The terms "strategic management" and "strategic planning" are used synonymously in this text.

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Strategic management and strategic planning are two closely related terms that are often used interchangeably. Strategic management is the process of developing and implementing strategies to achieve an organization's goals, while strategic planning is the process of creating a plan that outlines the steps that need to be taken to achieve those goals.

The Terms "Strategic Management" and "Strategic Planning" Are Used Synonymously