BRM – Statistics, Business research & IT applications

• Quizzes: 12

Strategic management has evolved from military strategy to a vital discipline in business and organizations. Its roots can be traced back to early warfare tactics, where leaders like Sun Tzu and Clausewitz emphasized planning and competitive advantage. In the 20th century, strategic management became a formalized field, with thinkers like Alfred Chandler, Michael Porter, and Henry Mintzberg shaping its frameworks.

The discipline focuses on setting objectives, analyzing competitive environments, and making informed decisions to achieve long-term success. Key concepts include SWOT analysis, Porter’s Five Forces, resource-based view (RBV), and balanced scorecards. Over time, the field has incorporated innovation, digital transformation, and sustainability to adapt to modern challenges.

Practically, strategic management helps organizations gain a competitive edge, allocate resources efficiently, and navigate market uncertainties. It is essential for businesses, governments, and nonprofits aiming for sustainable growth. With globalization and rapid technological change, strategic thinking is more crucial than ever.

A well-executed strategy aligns vision with execution, ensuring organizations stay resilient and adaptable. Whether for startups or multinational corporations, strategic management remains a cornerstone of success in an increasingly complex world.