The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. Upper management must think strategically first, then apply that thought to a ...

There is a Japanese saying that goes, "When you're dying of thirst, it is too late to think about digging a well." This saying exalts the importance of strategic management to success in any endeavor.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...