: Strategies are not static; they must be continuously modified to adapt to shifting market conditions and environmental changes.

: Strategic decisions are often made under high uncertainty and carry significant risk because they involve long-term forecasts.

Strategic management and thinking are defined by several "interesting features" that distinguish them from day-to-day operational tasks. The most defining characteristic is its , which focuses on shaping an organization's future rather than managing immediate routines. Core Strategic Features

: A key feature is the high-level decision-making regarding how limited finances, personnel, and time are distributed to achieve long-term objectives.