An organization is a group of individuals who collaborate to achieve shared goals. A commercial organization is simply a business where the investors and employees share in the primary objective of making a profit. The company engages in some form of commercial activity, such as selling products or services, in exchange for payment.
Strategic management is the process that takes place when the leaders of an organization meet to establish goals, strategies and tactics. In a commercial organization, executives meet to establish near-term and long-term objectives, form business strategies to achieve them, and delegate tasks and responsibilities. If a commercial organization produces a profit, its owners can share in the earnings or reinvest them for further growth.
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