This articles deals with Roles of Strategic Management. Strategic means making a plan for the right way of action, or path or direction to be followed in the organization. While management on the other hand means organizing the organization and work force in a required or desired way to work towards the achievement of the organization’s goals and objectives. Strategic management therefore is a process of organizing the business in the right path to get profit from the organization’s resources. Business Training in Kenya has more articles.
Roles of Strategic Management
Strategic management as a managerial process plays the role of helping to make the long term decisions and predictions about the business’s future position along with the purposeful future action plans Strategic management also plays a managerial role of making strategies towards organizational objectives and the evaluating of the performance of employees and adjustments according to the requirements of the departmental plans to get the best possible result from the general organization strategy.
Strategic management also plays the role of providing better and also up-to-date information about an organisation’s current position and predicts the organization’s stand in future.
Strategic management also plays the role of alerting the organization’s stakeholders about the opportunities and threats to development for the organization.
Strategic management also plays the role of helping entrepreneurs to unify their managerial and organizational efforts.
Strategic management also plays the great role of creating a more proactive management environment.
Strategic management also plays the role of promoting the development of a constantly evolving business environment.
Strategic management helps to provide opportunities to managers for evaluating the company’s budget according to the prevailing circumstances and situation
Strategic management also plays the role of molding the organization for the future. It does this by taking into account the future plans and anticipating for it.
Strategic management also plays the role of ensuring success in the organization by ensuring rationality and logical operation in the organization.
Strategic management reduces frustration because it has been planned in such a way that it follows a procedure.
Roles of Strategic Management continued
Strategic management plays the role of bringing growth in the organization by seeking opportunities for the organization.
Strategic management helps organizations errors and they can also work directionally.
Strategic management role also helps add to the reputation of the organization because of consistency that comes from organizations success.
Often companies draw to a close because of lack of proper strategy to run it. With strategic management companies can foresee the events in future and that’s why they can remain stable in the market.
Strategic management help look at the threats present in the external environment and thus companies can work to get rid of them or else neutralizes the threats in such a way that they become an opportunity for their organizations success.
Strategic management has the role of focusing on proactive approach which enables organization to grasp every opportunity that is available in the market.
Conclusion on Roles of Strategic Management
Strategic management is very important for organizations. Every organization should strive to embrace strategic management for its future success. Strategic management has a very critical role in organizations and thus the various Roles of Strategic Management.