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" In management theory and practice, a further distinction is often made between strategic management and operational management.

Operational management is concerned primarily with improving efficiency and controlling costs within the boundaries set by the organization's strategy.

He addressed fundamental strategic questions in a 1954 book The Practice of Management writing: "...

the first responsibility of top management is to ask the question 'what is our business?

Implementation results in how the organization's resources are structured (such as by product or service or geography), leadership arrangements, communication, incentives, and monitoring mechanisms to track progress towards objectives, among others.

Running the day-to-day operations of the business is often referred to as "operations management" or specific terms for key departments or functions, such as "logistics management" or "marketing management," which take over once strategic management decisions are implemented.

Chandler stressed the importance of taking a long term perspective when looking to the future.