The basis for strategic management is to study what organizations are doing compared to others.
Yes, competitive benchmarking is a possible basis for strategic management.
However, the leaders of many admired organizations have a vision of what they can do to be successful. This blue ocean thinking makes the red sea of competition less relevant.
I agree with this view. But in another way, the idea (compared to others) is one of the basics of strategic management. And not limited to.
It depends on the approach. For example; the resource-based view of the firm represents a paradigm shift in thinking by focusing on the internal resources of the organisation rather than analyzing performance in terms of the external context. The rational planning approach incorporates external influences after examining the market competition.
The basis for strategic management is to understand how the world is changing, as well as how those changes might affect the organisation
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