What is the primary focus of strategic management?

Strategic management primarily focuses on formulating and implementing plans to achieve organizational objectives. This process involves analyzing both the internal and external environments of the organization, identifying strategic goals, and developing a coherent plan that aligns resources and actions to steer the organization towards success.

By emphasizing effective planning and implementation, strategic management ensures that organizations are not just reactive but proactive in adapting to changes in the market, competition, and technology. This comprehensive approach allows organizations to set long-term visions and establish a roadmap to navigate challenges while leveraging opportunities for growth and innovation.

Other options do touch on aspects of management but do not encompass the broad purpose of strategic management. For instance, minimizing costs may be a tactic within a strategy but does not represent the overarching goal of strategic management, which is to achieve long-term success. Similarly, focusing solely on current operations or reducing the number of employees limits the scope of strategy as it neglects important elements of growth, adaptation, and competitive positioning that are essential for sustainable success in a rapidly changing business environment.