Strategic management is the process of setting goals, procedures, and objectives in order to make a company or organization more competitive. Typically, strategic management looks at effectively deploying staff and resources to achieve these goals. Often, strategic management includes strategy evaluation, internal organization analysis, and strategy execution throughout the company. Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and ensuring that management rolls out the strategies across the organization.

Helping the company find ways to be more competitive is the purpose of strategic management. To that end, putting strategic management plans into practice is the most important aspect of the planning itself. Plans in practice involve identifying benchmarks, realigning resources like financial and human and putting leadership resources in place to oversee the creation, sale, and deployment of products and services. In business, strategic management is important because it allows a company to analyze areas for operational improvement. In many cases, they can follow either an analytical process, which identifies potential threats and opportunities, or simply follow general guidelines. Given the structure of the organization, a company may choose to follow either a prescriptive or descriptive approach to strategic management. Under a prescriptive model, strategies are outlined for development and execution. By contrast, a descriptive approach describes how a company can develop these strategies.

Consultant Review in this issue presents a list of '10 Most Promising Management & Strategy Consultants ­ 2022' who have leveraged their extensive industry expertise and experience in bringing innovative services to the market. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board. We recognize their valuable contribution to the ever expanding and competitive market and their ability to sustain themselves and emerge as top contestants through their reliable services.