Your analysis of the strategic management appears to be accurate. Strategic management focus is on long-term goals incorporating development and growth of the organization (Kovacheva, n.d.).
Assessing the business and the external factors relating to the environment, trends, and competition. Strategic management process compiles five phases organizational objectives, environmental scanning, strategy implementation, strategy formulation, strategic control (Kovacheva, n.d.).
Based on the example you mentioned about launching new products relating to information technology these components are important to determine how the products may fare in specified markets (Kovacheva, n.d.).
Do you think software and hardware products are advertised as much as cell phone companies selling the latest technology gadgets?