In management domain, strategic management encompasses identification coupled with definition of strategies. Usually, managers employ these strategies to strive for high performance levels as well as admirable competitive advantage for business establishments. In addition to that, it includes decisions as well as acts managers set about, and which determine the outcome of the organizations’ performance.In this respect, strategic management draws higher profitability if well planned and executed. Incisively, a science is whatever skill that manifests detailed use of facts for a particular purpose. Subsequently, an art is clearly characterized as skill critical for any human tasks. Not only is strategic management a behavioral science, but also is an art, since its application in relative situations involves these two perspectives (Bingham and Eisenhardt 1437-1467).
Ordinarily, (Bingham and Eisenhardt 1437-1467) argues that the main function of strategic management is to integrate diverse functional components of an organization wholly, as well as to make sure t…
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