Strategic management is the process by which a firm managers formulations and implementation of its strategy. But we still need to ask ourselves : What is the goal of strategic management? What does “having the strategy” mean? Even we’re pretty sure that we have a strategy and goal for it, how do we know whether we have a good strategy or a bad one? You may wonder it is important to study strategy when your carrer is unlikely to begin at the level of strategic leadership. From a practical standpoint, employers expect you to be functionally fluent in accounting, marketing, or some other specialization.