To define the mission and goals of the organization, it is very important to understand what its current situation is and what barriers a company can encounter in the existing environment. By successfully deploying strategies, an organization can fulfill its mission and goals. Thus, firms must use strategic planning and strategic management. Strategic planning, which requires the ability to think strategically, is one of the most important management tools that helps managers recognize priorities and identify key actions necessary to realize the organization’s mission and goals. Currently, strategic management has become one of the main aspects in the management of organizations due to the increasing dynamics of the development of the business environment. This article discusses the concepts of strategy, strategic planning, strategic thinking, and the importance of strategic management.

Konshina Anastasiia. Analyze the concept of strategic management. Academic Journal of Business & Management (2021) Vol. 3, Issue 11: 74-77. https://doi.org/10.25236/AJBM.2021.031115.

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