What is the concept of Strategic Management?
Strategic management is all about the strategy and also the methods that the managers will actually adopt the methods that the managers will actually adopt and ensure a much better productivity & competitive advantage of the organization’s profitability.
It can also be actually de4fined as a number of decisions and actions which the managers take to align the employees and all their goals with the goals of those particular organizations. This can be actually be achieved by leveraging the strength of the individual team members and also motivating them to work as a whole team.
Strategic management is actually about planning for dealing with predictable as well as the unexpected contingencies. In the growing competitive markets, alertness of the managers and the ability of managers to modify the strategy is actually very helpful. Just as a general of an army on the war front, when he notices some very unexpected steps by the enemy, then he quickly adopts the new tactics to defeat the enemies. Likewise corporations make a lot of efforts to beat other in the competition in the similar price bracket.
Strategies are formed according to the various objectives and also have to be aligned with the vision of the actual vision of the organization. As has been said above, the alertness of the management of what is atking place in the business environment, so far as their of operation is concerned.
Thus the strategic management is a continuous process, where the orgnisation actually continuous process, where the organization consistently tries to stay ahead of others in the same area of their operation.
Strategic management is both a science and also an art. The Science may provide the logical course of action, but the art of management comes in very handy, while dealing with the employees who are also human beings. Here there is a realization that everyone are an individual and also one size does not fit all.
One of the most important role of strategic management is to incorporate various functional areas of the organization completely. Further it is very necessary that these functions harmonise and also work as one large team, Keping an eye continuously on the goals and also monitoring the progress is another action that can be taken by the management of the organization to keep their employees very motivated.
Blog is curated by Vikram Kakri.
