STRATEGIC MANAGEMENT

Strategic Management



Strategic Management

Introduction

It is management that relies on human capital as the basis for the organization, directs production activities on the needs of consumers, and provides flexibility to respond timely changes in the organization to meet the call from the environment and allow to achieve competitive advantage, all of which enables the organization to survive in the long term, while achieving their goals.The subject of strategic management is:

Problems which are directly connected with the general goals of the organization.

Problems and solutions associated with any element of the organization, if this element is required to achieve the goals, but is not currently available or insufficient.

The problems associated with external factors that are uncontrollable.

"The problems of strategic management are most often occurring as a result of numerous external factors. Therefore, to avoid mistakes in choosing strategies, it is important to determine what economic, political, scientific, technical, social and other factors have an impact on the future of the organization “(Verna, 2009, p 89-123).

Business Processes Strategy

Many organisations began to adopt the concept of strategy into their businesses. In order to implement a new blue ocean strategy in our company, our manufacturing process will have to go through some eliminating, reducing, raising and creating procedures. The main theme of this strategy would be based on sales forecast and operational budget in relation to coping with the rapidly growing economies and rising consumer demands with customers. The key success factor of our organisation would be largely dependent on the market knowledge and competencies of the top management team.

Relationships with partners and the customer-based relationships

Relationship with the supply market

Communication with key stakeholders

Question 1:

Emerging Theme in our Strategy

The concepts of strategy in our business setting have been the subject of intense debate in recent years. Despite these disputes, one of the most important contributions of strategy research is to provide a framework to help support and guide managers to craft a strategy for their companies. Therefore, strategic knowledge is intended to be actionable knowledge. Over the years, a large number of strategy tools and methodologies have been developed by researchers to facilitate managers to carry out formal strategic planning for their organisations: PEST (Political, Economic, Social, and Technological) analysis, Porter's five forces analysis, SWOT analysis, Business processes strategy etc.

Strategy Development Process

On the face of it, planning is most obviously explained through the design lens; it can certainly take the form and ...