Strategic Management seeks to interpret the development of business activity in order to enable it to effectively respond both to the opportunities and favourable situations that the external environment presents, as well as to those other threats and challenges that might also emerge. All this without losing sight of the internal resources, capabilities and strengths the firm itself possesses, and any weaknesses it may still have. The result of the confluence of these factors is a point of departure that provides a platform for establishing the various alternatives or courses of action that permit a firm to achieve its established goals. The process culminates in the implementation of these alternatives.
