Strategic Management and HRD Strategic management involves a set of managerial decisions and actions that are intended to provide a competitively superior fit with the external environment and enhance the long-run performance of an organization.It involves several distinct processes, including strategy formulation, strategy implementation, and control. At the formation or formulation level, top management must first assess the viability of the current mission, objectives, strategies, policies, programs, technology, workforce, and other resources. Then, they must monitor and assess different aspects of the external environment that may pose a threat or offer potential opportunities. Finally, in light of these assessments, management must identify strategic factors (for example, mission, technology, or product mix) that need to be changed or updated.
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