Strategic Management And It's Importance

1
Strategic Management and It's Importance
2
What All We will Cover
Introduction to Strategic Management Characteristi
cs of Strategic Management Importance of
Strategic Management Stages of Strategic
Management Process
3
Introduction to Strategic Management
Strategic Management is the recognition of
organisation's motive and making a set of
decisions to meet organisational objective. It
provides direction to achieve goals.
4
Characteristics of Strategic Management
Implication of Top-Management Strategic
Management is related to major decisions within
the organization which involves the
top-management as they have powers to authorize
the allocations of resources. Resources Requiremen
t Strategic Management requires resource in large
amount as it needs to acquire set goals within
the allotted time.
5
Affecting long-term Opulence
Once the strategy is made, the firm is focused on
acquiring the objective and is tied with it for
a long- term. Forward-Looking Strategic
Management is bound with future. It is
future-oriented and decisions are made by
forecasting the future challenges.
6
Importance of Strategic Management
Provides Roadmap for Organization Promotes
Advance Thinking Diminishing the possibility of
mistakes Providing distinct objectives to
employees Prepare firm to deal with changes
7
Stages of Strategic Management Process
Setting Goal Information Analysis Formulating
Strategy Implementing Strategy Strategy Control
and Monitoring
8
Setting Goal

• Goal-Setting is to identify long and short term
  organizational goals and defining the process to
  achieve it effectively. You need to make sure the
  goals are clear.
• Information Analysis
• Now that you have set your goal, you need to
  collect data and relevant information to achieve
  your objective.

9
Formulating Strategy
Strategy formulation is forming a strategy after
reviewing the details achieved from the analysis.
Identify what all resources are required and how
can you get them. Implementing Strategy Everyone
in the firm should be aware of their
responsibilities. As the strategy is now formed,
it is the time to implement it.
10
Strategy Control and Monitoring

• A successful firm involves proper implementation
  of the strategy. It keeps an eye if the work is
  being processed as per the strategic decisions
  and measure the results.

11
Contact us
1 321 574 8111 1 321 574 8111 support_at_assignment
helpservice.com www.assignmenthelpservice.com