Based on an examination of the internal and external settings within which an organization operates, strategic

management is concerned with developing and implementing an organization's long-term goals for its
stakeholders. Provides overarching direction for a company by defining the organization's goals; formulating
policies and strategies for achieving those goals; and allocating resources for the implementation of those
strategies. There are several models and frameworks for strategic decision-making in complex contexts and
competitive dynamics produced by academics and practitioners. To keep track of progress and provide input for
future planning, strategic management is not a one-way street.