Strategic Managemnet: Strategic management is the annual cycle of planning and implementation memorialized into an organization’s culture. It allows you to recognize areas of success and sustain them while also identifying areas of weakness to improve which is done annually.

Business Strategy: Business strategy focuses more on the entire business as a whole. This would include Branding, Marketing, Sales, Finance etc. It is the development, execution and maintenance of critical business assets that help a business achieve its long-term goals.