Now talking about the concepts regarding the strategic management and threat identification,

the subject of Strategic Management is all about identification and description of the strategies
that managers can carry so as to achieve better performance and a competitive advantage for
their organization. It is bundle of decisions and acts which a manager undertakes and which
decides the result of the firm’s performance.
The managers should conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities, and
Threats) in order to - make the best possible utilization of strengths, minimize the organizational
weaknesses, make use of arising opportunities from the business environment and shouldn’t
ignore the threats.

In conclusion:

Strategic management involves seeking and identifying opportunities and threats in the
market and industry as well as the outside world in general. Strategic management is based on
the premise that "all businesses are not the same." Strategic management involves assessing the
strengths and weaknesses of your business.