ABSTRACT
This chapter provides an intensive review of the literature upon strategic management within five sections. It offers the reader for a short historical journey through the evolutionary process of the theory of strategic management. The chapter aims to understand how the focus of theoretical research not only changed over time, but how the tools and techniques that have been employed have become more complex and sophisticated in an attempt to capture the high complexity of the fast-changing business environment. It explores the process of strategy making in some depth: this includes consideration of mission statement, audit, strategic choice, implementation and control. The chapter analyses strategic management to the port industry and port authorities and addresses the question whether ports can benefit from this type of management and looks at the potential usage of strategic management in different business contexts. It examines a myriad of strategic management tools which have been created and developed by researchers.
