Objectives And Objectives Of Strategic Management

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Strategic Management is a substantial wing of the management system of an organisation or company whereby a set of managerial decision and action helps to determine the long-run performance and major goals of the organisation or company. Generally, top-level management of an organisation is responsible for the initiation and implementation of such decisions and actions based on the available resources and welcoming environment. The strategies involve the formulation and setting of directions, aims and objectives; improving organisational performance; collaborating and executing changes; developing and training the employees etc. It also stresses on the monitoring and evaluation of internal strengths and weaknesses and identifying external opportunities (Adair 2009).
On the other hand, leadership is a process whereby a person works through a chain of frequentative action by forming a vision, crafting a set of goals and objectives, setting directions and selecting employees, performing required tasks as long as needed until the goals and objectives are achieved. In order to be a good leader, an individual needs to be diligent, vigilant and resilient in all aspects of policy and strategy making for any specific situation arising with the organization (Atreya 2013).
According to Atreya (2013) “Strategic management is about setting vision, mission, goals and objectives for achieving excellence and the strategic leadership is to ensure that the results are being
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