ABSTRACT
This chapter contains integrated model of strategic management; the principles on which it is based; underlying assumptions; guidance on application, and relevant issues; and related models. Strategic management is most effective when it is an integrated process. The strategy is the organization's preselected means of, or approach to, achieving its goals or objectives, while coping with current and future external conditions. Mission is a broad statement providing a general direction for business activities and a basis for coherently selecting desired goals and objectives and the means to achieve them. Goals are the broad objectives which the organization wishes to pursue or the results it wishes to accomplish within its mission. If corporate development and coordination of individual businesses is the key objective, the company headquarters should formulate the strategy and accept that the motivation of unit managers and the performance of their units may suffer.
