chapter 1 : definition of strategic management

assalamualaikum everyone..
for first chapter in lectere startegic management we learn  about the????
of course in first chapter we learn about the definition strategic management
and strategic management process

Strategic management is used synonymously with the term strategic planning.
Sometimes the term strategic management is used to refer to strategy formulation,
implementation, and evaluation, with strategic planning referring planning referring
only to strategy formulation. A strategic plan results from tough managerial choices
among numerous good alternatives, and signals commitment to specific market,
policies, procedures, and operations.

There are three stage of strategic management:
    1* strategy formulation
    2* strategy implementation
    3* Strategy evaluation

Strategy formulation 
   includes developing a vision and mission, identifiying an organizations externel opportunities
and threats, determining internal strentghs and weaknesses, establishing long-term objectives,
generating alternatives strategies, and choosing particular strategies to purse

Strategy implementation
   Requires a firm to establish annual objectives, devise policies, motivate employee, and
allocate resources so that formulate strategies can be executed and often called
action stage.

Strategy evaluation
   reviewing external and internal factors that are the bases for current strategies, measuring
performance, and taking corrective action