Which term refers to the ongoing management process that includes crafting and implementing strategy?

• A. Strategic Planning
• B. Strategic Management
• C. Strategy Evaluation
• D. Operations Management

Answer: (B)

Strategic management is the ongoing process of crafting and implementing strategy. It covers formulating the strategic direction and choices, putting those plans into action across the organization, and continually monitoring results to adjust as conditions change. This makes it the best fit because it explicitly describes both the development of strategy and its execution as part of a continuous cycle within the organization. The other terms are narrower: Strategic Planning focuses on designing a strategy, often in a planning phase rather than ongoing management; Strategy Evaluation centers on assessing how well the strategy is performing after implementation; Operations Management deals with day-to-day activities and efficiency, not long-term strategic direction.