4 Phases of Strategic Management

• Phase 1: Budgetary Control

  • setting and achieving budgets

• Phase 2: Long-range planning

  • medium-term forecasting

• Phase 3: Strategic planning

  • think strategically

• Phase 4 Strategic management

  • alter and create the future for the org.

Despite budgetary control being the genesis of strategic management, accountants still focus on budgets for strategic planning

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