Which of the following statements best describes strategic management ?
1
A process consisting of determining objectives and strategic actions to achieve those objectives.
2
A process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy and monitoring of that strategy.
3
A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy and monitoring of that strategy.
4
A process for determining direction, strategic actions to achieve objectives and the implementation of desired strategy.