The art of strategic management involves creating and implementing plans to guide the company towards its goals. It could include all managerial activities, including setting goals as well as determining the steps needed to reach them. This includes evaluating strategies and making adjustments. To be a successful career as a strategy manager with a degree, experience in leadership or management roles, and mentorship can be valuable qualifications.

Goal-setting is the first step in the process of strategic management. In this stage, leaders define the company's mission and the ethos. They also establish operational goals. Then, they establish and define specific, measurable, achievable, pertinent and time-bound (SMART) goals to support the company's goals. Leadership teams should review these goals as well as the KPIs that support them every year to make sure they are in line with their objectives.

In the next stage, strategic managers analyze the situational factors that influence the development of an organization. These include the competitive environment as well as economic trends, and the potential rewards and risks. Then, they use this information to formulate strategic options to help a company overcome the obstacles it faces and reach its goals.

Implementation is the third phase of strategic management. This is the actual execution and implementation of the chosen strategy. This requires a great level of coordination, communication and resources to make sure the strategies are in place across all departments and different levels within the organization. It also involves evaluating the impact of cross-functional decisions and making sure that they align with the strategy. It is important to regularly inform employees what they are doing every day contributes to achieving the goals outlined in strategic planning, and how these goals connect to the company's goals.