Strategic Management that can be defined in many ways, it is simply a process that helps an organization to create, arrange, revise steps and also makes decisions and set goals and objectives. Many people are aware of Strategic Management, as it is a basic step in peoples mind. However people assume the basic things that are very crucial even in every management. Business Training in Kenya has more articles.
Steps of Strategic Management
Strategic Management has a complex and hard to understand steps. One should be able to know how to implement the Strategic Management by firstly one should analyze his/her current situation, this is the situation of your organization and have you achieved your objective and met the business needs. One should be able to know the challenges faced by his/her organization and how he/ she fought them. This will help you to restate the business mission, vision, goals and objectives, and this time you will develop a plan that will help to develop towards these strategies. Strategic Management next step is to plan the strategy. This include decision you need to take to plan your strategy, you also need to take a close look at the available resources, changes you need to undertake while running your plans, roles and responsibilities you need to put across to the teams who you have employed in your organization. Next you need to evaluate the objectives and see if they have been met. If not met hem they may drag off your organization. Lastly, in Strategic Management you need to be prepared that anything can happen in your organization and so you need to be prepared.
Elements that make up Strategic management
Strategic Management is made up of at least four elements: first situation analysis, second, strategy formulation, third strategy implementation and lastly the strategy evaluation. For one to develop a new Strategic Management he/ she need to use these elements. Strategic Management discusses the manager and management concepts, i.e. what duty the manager performs, like the planning, leading, and supervising. It also reveals the actual performances of a company, the position it holds. It also introduces the tools and techniques one can use in Strategic Management and also how Strategic Management can be differentiated with any other management. Having known that Strategic Management is a set of functions and processes then it can then lead to effective Strategic Management, which knows about these functions and processes and knowing how to implement them.
Importance of Strategic management
Strategic Management in well-organized associations can bring about many benefits in current and future days. One it brings about growth of an organization and this makes an organization make large profit if they are profit-making organizations, this is because it seeks opportunities. Two, it reduces embarrassments and frustrations as it is well planned and it follows a specific routine. Third it improves efficiency and provides success. Lastly, Strategic Management enables an organization to grasp every opportunity that comes on the way and this will reduce last running rush.
Conclusion on Strategic Management
Strategic Management is a management weapon that is used by the organization to do better job and ensure that its teams are working towards achieving a goal in Strategic Management