Introduction to strategic management

what is strategic management???

today I would like to explain about introduction and process of strategic management.

 strategic management is drafting, implementing and evaluating decision in an organization with enables the organization to identify the direction to achieve its long-term objective.

 The strategic management process:
  • DEFINE THE MISSION AND VISSION
  • ANALYZE EXTERNAL AND INTERNAL ENVIRONMENT
  • IDENTIFY THE GOAL
  • FORMULATE THE STRATEGY
  • IMPLEMENT STRATEGY
  • EVALUATE AND CORRECT

Comments

Post a Comment

Popular posts from this blog

DIFFERENT LEVEL OF STRATEGIES

I would like to share with you all about the level of strategies. There are 3 different of level strategies that I have learnt. this 3 level have different circumstances within the organization.  1) corporate  level strategies corporate strategies are for the overall movement of the organization. At this phase indicates to identify the strategies to pursue the benefit of the whole organization. this decision usually made by the top management. For example to decide on the resources. overall of the company should choose between stable growth and turnaround or combination The Grand Strategies 1) The Growth Strategies - All decision maker would prefer to grow and be better than the previous year. 2) The Stable Growth Strategy - The target growth is similar to that as achieved in the previous year 3)  The turnaround strategy - This strategy is decided when the company has been experiencing a bad spell. 4) The combination strategy - organization...
Read more

LEVEL OF STRATEGIES

THE TACTICAL STRATEGIES 1)Organically - a company use its own strengths and capabilities without the involvement of any other company. 2) Joint venture - this strategy involves a set up a new company with equity participation of all the parties involved.  3) Merger - a new company while the two or more names of those involved in the merger will not exist anymore. 4)acquisition/takeover -it involves the buying of the majority equity of the company  5) reverse takeover 6) strategic alliances - two or more parties that decided to work together without any structural changes 7) licensing -seek permission to run a business based  on the licensor 8) franchising -a company in through this mode allows it to practised not only to the product /services but the whole operating system
Read more

LEVEL OF STRATEGIES

                                          THE BUSINESS LEVEL STRATEGIES The business level strategies to handle the competitors when dealing with the business operation. there are three strategies assist the organization in facing the competitors at the business level. 1) cost leadership -the firm has the ability to produce goods and services at a lower cost than its rivals or competitors 2) Differentiation strategy -the firm provides the customer with a unique and special product and services that distinguish from its rivals 3) Focus - the firm provides the products and services to a specific niche within an industry
Read more