What exactly is strategic management? How do businesses develop strategies? What goes into a business strategy? In the most basic terms, strategic management involves setting objectives and devising strategies to attain them. According to Richard P. Rumelt, one of the most influential thinkers and strategic management and strategy design, a good organizational strategy must have a “kernel”—an underlying structure consisting of three components: 1) diagnosis, 2) guiding policy, and 3) action plan. Read more about the two primary truths about an organizational strategy and the kernel at the heart of any good strategy.
Strategic Management: Strategy Design and More










