This chapter examines the evolution of managerial thinking toward strategic management in businesses. Drawing on the metaphor of aimlessness from Lewis Carroll’s Alice in Wonderland, it emphasizes the modern need for strategic management approaches in today’s enterprises. The historical development of management thought is analyzed through the lens of Kuhn’s (1962) “paradigm approach,” Barley and Kunda’s (1992) “economic conjuncture analyses,” and Özcan and Barca’s (2010) “dialectic of environmental determinism and intellectual progress.”

The main objective of the study is to analyze the dynamics of the transition from management thought to strategic management and to reveal the significance of this shift for businesses. Within the scope of the chapter, the historical evolution of the management concept is first examined, followed by an evaluation of the fundamental components and processes of strategic management. In the discussion and conclusion sections, critical perspectives on strategic management thought are explored, and recommendations are offered for both practitioners and scholars.