Strategic Management is the process of defining an organization's direction and making decisions on allocating resources to pursue this direction. It involves analyzing the internal and external environments to identify strengths, weaknesses, opportunities, and threats, often referred to as a SWOT analysis. This helps organizations set long-term goals and develop plans to achieve them. Effective Strategic Management requires continuous monitoring and adjustment of strategies based on changing market conditions and organizational performance. By aligning resources and efforts with the overall vision, companies can improve their competitiveness and ensure sustainable growth in a dynamic business landscape.