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...Contents meaning of strategic management stages key terms in the model benefits business ethics and what is sm can be defined as art science formulating implementing evaluating cross functional hr r d production marketing finance decisions that enable an organization to achieve its objectives according pearce robinson set action formulation implementation strategies designed stoner freeman distinct process involves engaging planning then acting on those plans cont jauch glueck a stream which lead development effective strategy or help corporate way strategists determine make purpose exploit create new different opportunities for tomorrow consists three evaluation includes developing vision mission identifying s external threats determining internal strengths weaknesses establishing long term generating alternative choosing particular pursue issues include deciding businesses enter abandon how allocate resources whether expand operations diversify international markets merge form joint ...