Strategic management involves formulation and implementation of major goals and initiatives by top management based on assessments of internal and external environments. It provides direction for the future, clear objectives, and better performance than non-strategic firms. Objectives of strategic management include desired market share, innovation, developing human and physical resources, productivity, social responsibility, and profit requirements.

1. STRATIGIC MANAGEMENT
Meaning, Importance and Objectives
Presented By: Nagendra Maurya

2. Meaning
• Strategic management involves the formulation
and implementation of the major goals and
initiatives taken by a company's top
management on behalf of owners, based on
consideration of resources and an assessment of
the internal and external environments in which
the organization competes.

3. Strategic management is the comprehensive
collection of ongoing activities and processes
that organizations use to systematically
coordinate and align resources and actions with
mission, vision and strategy throughout an
organization.

4. Importance
• It provides a way to anticipate future problems
and opportunities.
• It provides employees with clear objectives and
directions for the future of the organization.
• It results in more effective and better performance
compared to non-strategic management
organizations.
• It increases employee satisfaction and motivation.
• It results in faster and better decision making and
• It results on cost savings.

5. Objectives
• Market standing: desired share of the present and new markets;
• Innovation: development of new goods and services, and of skills
and methods required to supply them;
• Human resources: selection and development of employees;
• Financial resources: identification of the sources of capital and
their use;
• Physical resources: equipment and facilities and their use;
• Productivity: efficient use of the resources relative to the output;
• Social responsibility: awareness and responsiveness to the effects
on the wider community of the stakeholders;
• Profit requirements: achievement of measurable financial well-
being and growth.

6. THANKS!