Know where you're going. Then get there.
A strategy is an approach taken to achieve a defined set of goals. Strategic management, on the other hand, is the process of defining desired outcomes, and deciding how the company will use resources to achieve them. Strategic management combines every phase of strategy, from planning to implementation and iteration. Strategic management answers both reflective questions about your business: 'where are we going, and why?' and the practical questions, like 'how will we get there?'