ABSTRACT
Strategic management is the process and practice of establishing and delivering an organization's strategy. In this regard it is necessary to manage a number of aspects of the organization that are of strategic significance. In particular aspects such as,
Recognition of core competencies
Understanding environmental changes
Identification of threats and opportunities
Balancing stakeholder expectations
Evolving an appropriate culture
Embracing the impact of technology and innovation
Understanding the motivations of staff and customers
Being able to understand the significance of elements within the value chain
Recognizing the impact of critical success factors
