Strategic Management, What Is It Essay Example | Topics and Well Written Essays - 2000 words

Strategic Management, What Is It - Essay ExampleEssentially, strategicalal precaution is a vehicle for giving innovative lead concerning the most essential issues of concern to an brass instrument and its surroundings in a very determined, efficient, and of import manner. At the heart of the progression is the communal management of a strategic docket that transforms as an organizations problems and opportunities transform. useful strategic management needs intensive, continuous, and collective concern of senior management (Eadie and Stein bacher , 1985, p. 425 ).The purpose of strategic management is to help formulate, implement, and respect cross-functional decisions in such a way as to assist the organization in achieving its long-term objectives. The strategic management process is seen as an objective, logical and systematic approach for reservation major decisions in an organization (David, 1997 6) in which both analysis and intuition have a division to play.Effecti ve strategic management entails the configuration of a strategic management group to give leadership for the process. Characteristically, the framework of this group will comprise the C.E.O., top-line managers, and key executive staff members. In a sensitive organization, for example, the strategic management group might comprise the mayor or the city manager and the heads of numerous operating departments.It is the responsibility of the strategic management team to give the configuration for developing and modernizing strategic plans and for direct their realization in all areas. As strategic management is a continuous process, the strategic management group must meet on a usual basis to confer strategies, monitor development, evaluate efficiency, and generally sustain a shared focus on the strategic agenda. This comprises identifying newly promising strategic issues, estimate problems and opportunities as they develop, adapting strategies, and giving direction and control over c ompletion plans to preceding the strategic agenda efficiently. Sporadically, it may consequence in the development of new strategic initiatives. The strategic management process in any case may rivet a strategic planning systems approach in which planning efforts at diverse levels are centrally coordinated within the frame of an organization wide strategic planning process. With the sufferance of this overall plan, the strategic management group might well direct the operating departments to originate their cause strategic plans, which counter to mandates established in the overall plan and also address strategic concerns at their own level. The strategic management convenes cross-departmental task forces or action teams to plan more