n th fld f mngmnt, strtgc mngmnt nvlvs th frmltn nd mplmnttn f th mjr gls nd nttvs tkn by n rgnztn's mngrs n bhlf f stkhldrs, bsd n cnsdrtn f rsrcs nd n ssssmnt f th ntrnl nd xtrnl nvrnmnts n whch th rgnztn prts. Strtgc mngmnt prvds vrll drctn t n ntrprs nd nvlvs spcfyng th rgnztn's bjctvs, dvlpng plcs nd plns t chv ths bjctvs, nd thn llctng rsrcs t mplmnt th plns. cdmcs nd prctcng mngrs hv dvlpd nmrs mdls nd frmwrks t ssst n strtgc dcsn-mkng n th cntxt f cmplx nvrnmnts nd cmpttv dynmcs. Strtgc mngmnt s nt sttc n ntr; th mdls cn ncld fdbck lp t mntr xctn nd t nfrm th nxt rnd f plnnng.
Mchl Prtr dntfs thr prncpls ndrlyng strtgy:
crtng "nq nd vlbl [mrkt] pstn"
mkng trd-ffs by chsng "wht nt t d"
crtng "ft" by lgnng cmpny ctvts wth n nthr t spprt th chsn strtgy.
Crprt strtgy nvlvs nswrng ky qstn frm prtfl prspctv: "Wht bsnss shld w b n?" Bsnss strtgy nvlvs nswrng th qstn: "Hw shll w cmpt n ths bsnss?" ltrntvly, crprt strtgy my b thght f s th strtgc mngmnt f crprtn ( prtclr lgl strctr f bsnss), nd bsnss strtgy s th strtgc mngmnt f bsnss.
Mngmnt thry nd prctc ftn mk dstnctn btwn strtgc mngmnt nd prtnl mngmnt, whr prtnl mngmnt s cncrnd prmrly wth mprvng ffcncy nd cntrllng csts wthn th bndrs st by th rgnztn's strtgy.