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Ⅰ. The Woman CEO(Chief Executive Officer) Young-Shin Chang became the founder of Aekyung Business Group and rose from poverty to establish one of the largest Chemical products manufacturing Group for customers through combination creative thinking, woman leadership, interpersonal relations, organizational ability and business strategy that few competitors ever understood in Korea. Ⅱ. The Importance of Strategic Management Effective managers around the world recognize the role that strategic management plays in their organization's performance. Strategic management is that set of managerial decisions and actions that determines the long-run performance of an organization most of the significantstep 5 : Identifying strength and weakness. Any activities the organization does well or any unique resources that it has are called strengths. Weakness are activities the organization does not do well or resources it needs but does not possess. step 6 : Formulating strategies. Step 6 is complete when managers have developed a set of strategies that will give the organization a relative advantage over its rivals. step 7 : Implementing strategies. After strategies are formulated they must be implemented. A strategy is only as good as its implementation. No matter how effectively an organization has planned its strategies, it can't succeed if the strategies aren't implemented properly step 8 : Evaluating results. The final step in the strategic management process is evaluating results. Ⅲ. Strategic Management of Aekyung Group Young-Shin Chang, founder of Aekyung Business Group formulated many kinds of the polices and implemented strategic and tactical methods. During four decades of her managing Aekyung group, she formulated many patterns of managerial strategies. For Instances : 1) Expansion strategy for production facilities Aekyung, co.,Ltd. 2) Business Diversification Strategy and portfolio investment strategy. 3) Development strategy for foreign market. 4) Expansion of sales networking strategy. 5) Research and development strategy for chemical research center and technical research center. 6) Quality management strategy. 7) Globalization strategy. 8) Distribution department strategy. 9) Reengineering strategy. ① Value based management. ② Supply chain diagnosis. 10) Competitive strategy etc. Ⅳ. Modern global managerial strategies for evolution of Aekyung Business Group Recent times, Chair-woman Young-Shin Chang devoted for ①Reengineering of managerial systems, ②Environmental system and ③Managerial information system. Especially she formulated and implemented enhancement policies for productivity with efficiency and effectiveness. Also, she devoted for following strategies for Chemitopia. 1) Listing strategy for stock market of Aekyung Petrochemical, co., Ltd. 2) Customer satisfaction strategy. 3) Research and development strategy for "Chemitopia." 4) Human Resources management strategies etc. 5) Reengineering strategy for value based management and supply chain diagnosis. Ⅴ. Conclusions Labor-management proclamation for peace & coalition system in competition period was proclamed by Aekyung Petro chemical Co.,Ltd was announced by labor union and representative on may 15, 2003 for mutual interest and for the development of Aekyung Business Group. current business events reported in the various business publications involve strategic management. The strategic management process is eight step process that encompasses strategic planning, implementation and evaluation. step 1 : Identifying the organization's current mission, objectives and strategies. step 2 : Analyzing the environment In analyzing the external environment, managers should examine both the specific and general environments to see what trends and changes are occuring. step 3 : Identifying opportunities and threats After analyzing the environment managers need to assess what they have learned in terms of opportunities that the organization can exploit and threats it faces. Opportunities are positive trends in external environment factors ; threat are negative trends. step 4 : Analyzing the organization's resources and capabilities The internal analysis provides important information about an organization's specific resources and capabilities. The analysis should lead to a clear assessment of the organization's internal resources (such as financial capital, technical expertise, skilled workforce, experienced managers and so forth). It should also point out the organization's capabilities in performing the different functional activities(such as marketing production and manufacturing, research and development, financial and accounting, information systems, human resources management and so forth).