What is Strategic Management?
is Strategic Management?
In a nutshell, it is
goals-oriented management in which the mission and planned achievements
of an organization are clearly set out and all management processes are
designed and monitored toward reaching the organization's overall
goals. Steps that have already been taken to reach the goals of the
organization are carefully evaluated to make sure that they have been
carried out in the most efficient manner possible and that they were
indeed in line with the overall goals as set forth in the mission
statement which governs the strategic management process.
Formulating a mission
statement for the organization, as well as for any specific project, is
the foundation of effective strategic management. The overall mission
statement determines the purpose and goals of the organization, and a
mission statement for a project sets forth the purpose of the project.
All planned activities
need to be analyzed before being put into action, in order to make sure
that they are dedicated to the purpose of the organization and the
project. Activities that are not within the mission statement or
purpose of the project in question need to be shelved or shifted to a
Once a new strategically managed organization or
project has been launched, qualitative and quantitative analysis and
monitoring must be carried out on a regular basis to make sure that
goals are being achieved. If circumstances have changed, activities
need to be changed and even curtailed to make sure that goals are
achieved regardless of these specific circumstances. The question that
constantly has to be asked during the strategic management process is
"Does this fit in with our big picture?" If an activity or process does
not fit in with what the company is trying to achieve, whether in
general or with a specific project, it needs to be revised or curtailed.
The overall goal of any management method is results, and the overall
goal of strategic management is making sure the results are in line
with the goal of the company or project. Constant monitoring of all
processes, from management to sales to production, is necessary to make
sure that the results which are being achieved indeed meet the goals
that they are meant to achieve. Data recorded as part of the monitoring
process is used for analysis, and changes are made as necessary.
When strategic management processes are properly implemented, they
allow for flexibility. Rather than changing the goal to meet what has
been done at any stage of any project, monitoring and analysis of
results allows for changes that are necessary to achieve the desired
and stated goal of the firm or its project. These changes can include
addition of personnel or equipment, technological changes and anything
else that is necessary to achieve the desired overall results.
What is Strategic
Strategic management is also about the strategic
coordination of efforts. I's communicating with all the stakeholders
involved in a project so that they understand and accept its
goals. It creates atmosphere for a better teamwork as team members know
what they are
meant to achieve both as a team and in carrying out their individual
roles on that team. If an employee or consultant is not able to work
toward the goal in question for whatever reason, or needs retraining or
other support, it becomes evident quickly enough and the necessary
adjustments to the team can be made.
Being able to answer the question "What Is Strategic Management" means
being able to set the goals which a firm or project needs to achieve,
and making sure that everyone in the organization understands his
responsibility toward achieving those goals.
What is Strategic
Management? - Related Articles:
consider themselves a work in progress
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