► Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. ► The strategic management process involves analyzing cross-functional business decisions prior to implementing them. Strategic management typically involves: ➻ Analyzing internal and external strengths and weaknesses. ➻ Formulating action plans. ➻ Executing action plans. ➻ Evaluating to what degree action plans have been succes