Strategic Management



Strategic Management 
by
Smart Learning ay

The systematic analysis of the factors associated with customers and competitors (the external environment) and the organization itself (the internal environment) to provide the basis for maintaining optimum management practices. The objective of strategic managementis to achieve better alignment of corporate policies and strategic priorities.

Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals." Strategies are established to set direction, focus effort, define or clarify the organization, and provide consistency or guidance in response to the environment.

Strategic management involves the related concepts of strategic planning and strategic thinking. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity.

Strategic management is often described as involving two major processes: formulation and implementation of strategy. While described sequentially below, in practice the two processes are iterative and each provides input for the other.

The management of an organization’s resources in order to achieve its goals and objectives. Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and making sure that the strategies are rolled out across the organization.

The term strategic management is used to refer to the entire scope of strategic-decision making activity in an organization. Strategic management as a concept has evolved over time and will continue to evolve. As result there are a variety of meanings and interpretations depending on the author and sources. For example, some scholars and practitioners the term strategic planning connote the total strategic management activities. Moreover, sometimes managers use the terms strategic management, strategic planning, and long-range planning interchangeable. Finally, some of the phrases are used interchangeably with strategic management are strategy and policy formulation, and business policy.

Strategic management is the process of managing the pursuit of organizational mission while managing the relationship of the organization to its environment (James M. Higgins).

Strategic management is defined as the set of decisions and actions resulting in the formulation and implementation of strategies designed to achieve the objectives of the organization (John A. Pearce II and Richard B. Robinson, Jr.).

Strategic management is the process of examining both present and future environments, formulating the organization's objectives, and making, implementing, and controlling decisions focused on achieving these objectives in the present and future environments (Garry D. Smith, Danny R. Arnold, Bobby G. Bizzell).

Strategic management is a continuous process that involves attempts to match or fit the organization with its changing environment in the most advantageous way possible (Lester A. Digman).

 Bibliography

http://www.investopedia.com/terms/s/strategic-management.asp
http://www.businessdictionary.com/definition/strategic-management.html
http://www.introduction-to-management.24xls.com/en202


online marketing, marketing jobs, business marketing, plan marketing, marketing management, what is marketing, marketing strategy, marketing manager, marketing digital, marketing social, online marketing products, online marketing efamous, b2b online marketing, b2b socialmediagroup, poster myprinting, druckerpatronen markt24, internet marketing, jobs online marketing, online marketing business, online marketing manager, jobs in marketing, sales marketing jobs, sales and marketing, online marketing jobs, online marketing, marketing jobs london, sports marketing, sports marketing jobs, digital marketing jobs, digital marketing, small business marketing, business and marketing, business marketing management, business marketing plan, business marketing jobs, business marketing online, business marketing ideas, marketing ideas, marketing degree, business marketing degree online marketing, marketing jobs, business marketing, plan marketing, marketing management, what is marketing, marketing strategy, marketing manager, marketing digital, marketing social, online marketing products, online marketing efamous, b2b online marketing, b2b socialmediagroup, poster myprinting, druckerpatronen markt24, internet marketing, jobs online marketing, online marketing business, online marketing manager, jobs in marketing, sales marketing jobs, sales and marketing, online marketing jobs, online marketing, marketing jobs london, sports marketing, sports marketing jobs, digital marketing jobs, digital marketing, small business marketing, business and marketing, business marketing management, business marketing plan, business marketing jobs, business marketing online, business marketing ideas, marketing ideas, marketing degree, business marketing degree