Strategic Management involves defining the direction of a company's development and establishing long-term goals and priorities to achieve organizational success. It encompasses the process of setting objectives, developing strategies, planning, and monitoring to ensure the company's competitiveness and sustainable development in the long term.

The main components of strategic management include:

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  Analysis of the external environment and the company's internal resources

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  Defining the company's mission, values, and objectives

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  Developing strategies and tactics to achieve the set objectives

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  Planning and evaluating results

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  Adapting strategies to the changing environment and market

Strategic management enables company leadership to make informed decisions about how to utilize resources and opportunities to achieve high performance and a sustainable competitive advantage in the market.

It is an essential component of successful organizational management and its long-term success.