what are the key elements of strategic management 
strategic management is not a one size fits all strategy however there are key elements that are found to be critical these include goal setting industry and organizational analyses strategy formation strategy implementation and the measurement monitoring and controlling of strategies the bottom linestrategic management is the assembling and management of resources to achieve a company s goals and objectives although it is often segmented into either prescriptive or descriptive schools of thought many businesses subscribe to a combined philosophy defining how a strategy should be developed and how the strategies will be employed strategic management helps companies set goals gain a competitive edge better manage their resources and more there is not one prescription for all companies must create and adapt a strategic management process that works best for their company and those they serve strategic management does not end with the successful implementation of strategies it continues for the life of the business 