An Overview of Strategic Management: An Analysis of the ...

international Journal of Scientific and Research Publications, Volume 6, Issue 2, February 2016 124 ISSN 2250-3153 An Overview of Strategic management : An Analysis of the Concepts and the Importance of Strategic management Hanasini Athapaththu Department of Commerce, Faculty of management Studies and Commerce, University of Sri Jayewardanapura Abstract- To determine the mission and the objectives of an organization it is very important to understand what are its current situation and the types of barriers the firm would have to be faced from the existing environment. Through successfully deploying strategies an organization can realize its mission and the objectives. So the firms should know about Strategic planning and Strategic management . Strategic planning which requires a great deal of Strategic thinking is one of the most important management tool which helps managers to recognize the priorities and determine the main actions necessary to realize the mission and objectives of the organization.

International Journal of Scientific and Research Publications, Volume 6, Issue 2, February 2016 125 ISSN 2250- 3153 www.ijsrp.org In this paper the author proposes a new definition for the strategy as follows. “A strategy is a plan of actions that one use to formulate goals and objectives and the means of achieving these goals and

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