Dimensions Of Strategic Management

Strategic management process involves the entire range of decisions. Typically, strategic issues have six identifiable dimensions:

* Strategic issues require top-management decisions

* Strategic issues involve the allocation of large amounts of company resources

* Strategic issues are likely to have significant impact on the long-term prosperity of the firm

* Strategic issues are future oriented

* Strategic issues usually have major multifunctional or multibusiness consequences

* Strategic issues necessitate considering factors in the firm's external environment.