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Realization of the objectives is the benchmark for assessment, making it a routine for the management to employ creative strategies for effective achievement of the objectives. Implementation becomes a nightmare for many companies where commitment, assessment and review become distinct parameters without coordination and synergy, always frustrating initially vibrant ideas. Suitability studies are carried out alongside feasibility as well as acceptability levels, in order to ascertain its applicability in the specific area of interest.
For efficiency in management and delivery of results in as far as policies are concerned, strategic planning is usually the solution. The specific areas of action are identified and appropriate solutions projected are brought out for implementation. The conversion of intentions into desired actions goes hand in hand with tackling of the factors that hinder the implementation of the strategies in efficient management. Leadership and management skills are the key solutions to strategic management, where each set of skills complement realization of objectives. Leadership skills offer one portion of the puzzle while management skills offer the other.
Mintzberg’s model of management provides that strategic management goes farther than the mere formulation of strategic policies. A clear articulation of the mission, goals and objectives goes hand in hand with the successful implementation of the strategic plan. Prior plans are therefore put in place for the necessary implementation approach, since formulation and effective action are different things in strategic management. The identification of the mission, vision and goals of the organization before the specific strategy formulation usually addresses the real management problems in advance.
Lamb (1994, p.ix) states that strategic management is a continuous process that requires frequent review and change to keep up with the pace in the market. The ever changing business environment
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This essay explores the influence of shareholder and stakeholder in strategic planning; Selecting strategic directions with respect to risk and Development, implementation and review of strategic plan. The discussion seeks to answer the questions: How to identify the shareholders and stakeholders? What the role of shareholder and stakeholder in the strategic planning process?
This means that strategic management brings together the mission, objectives, and vision of a firm and develops policies and plans then allocates resolves to allocate resources to the set plans and policies in order to ensure their implementation (Wheelen & Hunger, 2011).
This resulted to the argument that they should restructure the management in order for all those involved to benefit. The technology which is referred to as the new JIT (Just in Time) is regarded by many as one that would require a lot of capital in order to effectively install and maintain it as the company was initially used to the old technologies that were less demanding and did not require expertise (Johnson et al, 2008).
The TRADOC strategy can change a business organization; making it an optimized establishment that supplies anticipative, effectual and adaptable support to clients. This strategy also allows companies to be able to transition to the future by being able to fulfill the future objectives of the company in all potential operational environments.
Strategic management in the public sector is a complex process since there are multiple stakeholders with varying needs and limited resources available. There are various approaches to strategic management in the public sector.
tural, social, and ethical environment in the organisation’s business objective, Encouragement of participation in the strategic dissemination process, and strategic evaluation process. This has done with the illustration of retail giant Wal-Mart. The study is comprised of
In an article published in the Wall Street Journal on 7 May, 2009 and titled Arbitron, Looking To Make Strategic Investments, Takes Page From Cisco, Ty McMahan wrote about the recent decision that had recently been taken
Those firms that have strategic plans that are fixed and static will struggle to keep up with the pace that the market changes. This is true even for market leaders; they cannot rest on their laurels and