What is strategic information management and why is it important in organisation?

Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It is the process of specifying the http://www.answers.com/topic/organization's objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies and plans to achieve the organization's objectives. Strategic management, therefore, combines the activities of the various functional areas of a business to achieve organizational objectives. It is the highest level of managerial activity, usually formulated by the http://www.answers.com/topic/board-of-directors and performed by the organization's http://www.answers.com/topic/chief-executive-officer (CEO) and executive http://www.answers.com/topic/team. Strategic management provides overall direction to the enterprise and is closely related to the field of http://www.answers.com/topic/organizational-studies. courtesy : http://www.answers.com