What is the relationship between strategic management and performance?

Strategic management is the process of defining and implementing a company’s direction and decision-making strategies to achieve its goals and objectives. Strategic management involves identifying the company’s strengths, weaknesses, opportunities, and threats, and using this information to make informed decisions about how to allocate resources and allocate responsibilities. Performance refers to the effectiveness of a company’s strategy in achieving its goals, as measured by metrics such as revenue growth, market share, and return on investment. Strategic management and performance are closely linked, as a company’s performance is a key factor in determining the success of its strategy.