Driving the Business on Strategic Grounds

Driving the Business on Strategic Grounds

Introduction

Businesses require a road map to run and achieve success. Therefore, the road map for business is the strategic planning. The Strategic management process is used by mainly all sorts of organizations whether they are not for profit organization or for profit organization. These strategic planning is even used by governmental agencies to work for the success of the business.

Business concerning both the nonprofit and for profit organization constantly work on the improvement in the strategic management of the business. Many of these organizations have taken steps to merge the public private ventures. This helps both private and public sector, since when a market crash is witnessed the effect on private and public sector is different. Therefore, public private co-ordination in business is very important for bringing growth in the business.

For businesses, improving strategic management in business is very important at the same time the improvement in the managerial skills is as important. This is because for the success of strategic planning of business, the business should have competent resource in future and at present. These competent resources help the organization to work, plan and implement in the best possible way. In strategic planning of business, the importance of networking should not be sideline. Networking in a business helps promote efficiency and helps in achieving the superior goals i.e. the strategic goals (David 2009). There are various things that a business should do to remain competitive like creating a Strategic Model and Internal and External Analysis.

Discussion

All of the posts discuss the management theories and practices in relation to strategic management, which have been in public sector, not for profit and for profit sectors.

Public Private Partnership

The risk faced by the private companies is higher than the risk faced by public ...