The document discusses strategic management. It defines strategic management as the formal process of defining a company's vision and mission, assessing the internal and external environment, formulating strategies under resource constraints, implementing strategies, and evaluating strategies. The document outlines the key components of strategic management, including strategic decision making, the process of strategic management which involves establishing strategic intent, formulating strategies, implementing strategies, and evaluating strategies. It also discusses the importance of strategic management and the scope it encompasses.