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Which of the following statements best describes strategic management?

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Which of the following statements best describes strategic management?
  • AA process consisting of determining objectives and strategic actions to achieve those objectives
  • BA process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy, and the monitoring of that strategy
  • CA process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy
  • DA process for determining direction, strategic actions to achieve objectives, and the implementation of desired strategy
Correct answer: C
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A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy

A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy statements best describes strategic management. Strategic management is the ongoing planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. Changes in the business environment require organizations to constantly assess their strategies for success.