CHAPTER 1 Course introduction...
Today the second week lecture subject of strategic management. Lecturer continue teach us the subject and enter to chapter one. In a nutshell, strategic management is the process in which an organization develops
and implements plans that espouse the goals and objectives of that
organization. The process of strategic management is a continuous one
that changes as the organizational goals and objectives evolve. Small
businesses engage in strategic management to ensure that they adapt to
trends and external changes such as globalization. Several key concepts
characterize strategic management and the development of organizational
goals. There are several concept that i can share to all of us:
1) Strategic management involves deciding what
is important for the long-range success of your
business and focusing on it.
2) Strategic management asks, “How should I
position my business to meet management and
business goals?”
3) A business strategy is a series of business deci-
sions that lead to achieving a business goal.
4) Strategic management involves the “big picture”
of your business.
5) Strategic management involves planning, analyz-
ing and implementing a business strategy.
That all overall for this chapter. So, now i will continue to next chapter. So let's ENJOY...:)
CHAPTER 2 The Nature Of Strategic Management
The conclusion of this chapter that I can share is the comprehensive collection of ongoing
activities and processes that organizations use to
systematically coordinate and align resources and actions with mission,
vision and strategy throughout an organization. Strategic
management activities transform the static plan into a system
that provides strategic performance feedback to decision making and
enables the plan to evolve and grow as requirements and other
circumstances change. We also can learn about art and science of formulating, implementing, evaluating, cross functional decision an enable of organization to achieve its objectives.
As this definition implies, strategic
management focuses on integrating management, marketing, finance or accounting,
production or operations, research and development, and computer information
systems to achieve organizational success.
Sometimes the term strategic management is used to refer to strategy
formulation, implementation, and evaluation, with strategic planning referring
only to strategy formulation. The
purpose of strategic management is to exploit and create new and different
opportunities for tomorrow, long-range planning, in contrast, tries to optimize
for tomorrow the trends of today.
Formulating is develop mission and vision and also identify organization external and internal environment (SWOT) analysis. It also establish long term objectives and generate how to achieve vision and mission.
Second, implementing. In the next step we also establish objectives, device policies, motivate employees, allocate resources so that formulate strategic can be executed. And finally we need to evaluate.
Developing a vision statement is often considered the first step in
strategic planning, preceding even development of a mission statement.
Mission statements are “enduring statements of
purpose that distinguish one business from other similar firms. A mission statement identifies the scope of a
firm’s operations in product and market terms.”
Okey..thats all..thanks for reading..;)...I will continue for next entry..See you again..keep smiling...
No comments:
Post a Comment