IJSRP, Volume 6, Issue 2, February 2016 Edition [ISSN 2250-3153]
H.K.S. Hanasini Athapaththu
To determine the mission and the objectives of an organization it is very important to understand what are its current situation and the types of barriers the firm would have to be faced from the existing environment. Through successfully deploying strategies an organization can realize its mission and the objectives. So the firms should know about strategic planning and strategic management. Strategic planning which requires a great deal of strategic thinking is one of the most important management tool which helps managers to recognize the priorities and determine the main actions necessary to realize the mission and objectives of the organization. Nowadays strategic management has become one of the primary topics in management of organizations because of the dynamic business environment. This paper entails the concepts of strategy, strategic planning, strategic thinking, strategic management and the importance of strategic management.