Final answer:
Strategic Management involves establishing order and defining roles, setting expectations, and creating a hierarchy of authority within an organization, ensuring clear accountability and proper functioning of its structure.
Step-by-step explanation:
Strategic Management is a multifaceted aspect of an organization that involves establishing a sense of order and organization, defining roles, setting expectations, granting powers, and creating a hierarchy of authority. This hierarchy ensures that every individual or office is accountable to a supervisory entity, thus maintaining a clear chain of command and addressing potential confusion such as work overload, conflict, and ambiguity in managerial roles.
A well-defined strategic management process offers a structured environment where managers set clear expectations for their subordinates and hold them responsible for specific processes and/or outcomes, while also acknowledging the abilities of its leader or leadership to influence decision-making.
Moreover, it ensures that both individuals and groups understand their allocated roles, the power differences that exist, and the responsibilities they entail within the organizational structure, which can include roles as nuanced as anticipating and addressing global resource competitions or maintaining strategic superiority.