What is the strategic management theory? ?

Strategic management theory is a set of concepts, frameworks, and tools that help organizations develop and implement strategies to achieve their goals and objectives. It involves analyzing the external environment, identifying opportunities and threats, setting goals and objectives, formulating strategies, and implementing and evaluating those strategies. Strategic management theory helps organizations make informed decisions about how to allocate resources, compete in the marketplace, and adapt to changes in the business environment. It is a key component of organizational success and long-term sustainability.