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Management develops strategies to guide how an organization conducts its business and how it will achieve its target objectives. Without a strategy, there is no Strategic management process can be defined as 'a combination of managerial decisions and actions that determines the long-run performance of a corporation. It Process of Strategic Management · Developing Organization Vision and Mission · Analysis of Organization · Setting Objectives · Strategy Formulation · StrategyIf the planning process is conducted well, it will be much easier for the entrepreneur to muintain the overview, and manage the business well towards set goals Strategic Management Process: Strategy formulation By: Prof. Dr. András Nábrádi PhD, MBA University of Debrecen Faculty of Ag. Economics and Rural Strategic Management is defined as a dynamic process of formulation, implementation, evaluation, and control of strategies to realise the organization's.