Strategic Management in a Successful Organisation - Essay Example

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Strategic Management in a Successful Organisation

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Subject: Management
Type: Essay
Level: Undergraduate
Pages: 3 (750 words)
Downloads: 1

Extract of sample "Strategic Management in a Successful Organisation"

The paper "Strategic Management in a Successful Organisation" is a good example of a management essay. Strategic management helps define the principles and interests of an organization and most importantly the approaches used in attaining them. It directs an organization to its competitive factor with other organizations. Strategic management allows an organization to tactfully and skillfully formulate, implement and evaluate decisions that aid the achievement of long-term objectives in the organization (Grant et al., 2013).

In understanding why organizations succeed and fail Strategic management enables organizations to determine what strategic actions they might take to improve performance. Strategic management is dynamic. It keeps on changing, therefore giving a chance to increasing the productivity of an organization. To develop successful strategies for any organization, the organization must answer 4 questions (Mintzberg and Waters, 1985):

Where are we going?
Where are we now?
How are we going to succeed?
How will we make it happen?

There are also three ongoing processes that are incorporated in the strategic management of organizations they include actions, analysis and decisions. The analysis helps analyze strategic goals (mission, vision and strategic objectives) (Porter, 1986). on the other hand, address the industries of competition and how to compete with the industries. Finally, taking action in strategic management is imperative, this is propagated by the rationale that analysis and decisions won’t be of any use if action won’t be taken. Thus, taking necessary actions will help in the implementation of strategic management plans. Necessary resources are therefore put into place.

The strategic management model is broken into two segments; strategy development and strategy deployment. Strategy development insists on creating and establishing an organization’s overall missions and meanwhile laying down clear plans on how to achieve them (Mintzberg, 1991). Whereas strategy deployment is tasked with the actions, strategic plans and results that guide the execution of strategies.

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