Organizational Behavior Strategic Management Strategic management deals with developing a firm's strategic plan. Ideally, that plan is stated in a mission statement and set of goals. A firm's products, how it produces them, and on what basis it competes are dealt with by strategic management.
Strategic management deals with internal and external issues.
Firms must consider the effects of their decisions and actions on people and firms both locally and globally. Business decisions must consider environmental and ethical dimensions. Managers are responsible not only for short term profitability but also for long term viability and growth. Development of a firm's human capital is increasingly important, as technology can make current skills and knowledge obsolete quickly. By understanding how technology transfer occurs, we can develop our organizations to improve the rate of technology transfer.