Strategic Management Case Study

Words: 995
Pages: 4
Open Document
1. Introduction:
VanBaren (no date) believe that the purpose of strategic management is given distinct direction to satisfy the customers’ needs to employees by planning the steps to the goals. Strategic management are often use by companies to evaluate and analysis of their strengths, weaknesses, opportunities and threats to set put the goals and try to achieve them. This analysis assist companies to understand current conditions in their field industry and environment, the purpose is to turn weaknesses into strengths and threats into opportunities. Once it success, the companies can possess higher competitive advantages to resist with their competitors. Strategic management allows employees to achieve and finish their jobs more efficiently …show more content…
(2010) consider that strategic management is a study field that includes a process through which a company or organization is able to determine its mission, vision, goals and objective as well as companies develop plan, program and various levels of execute strategies at of its industry condition and position in order to create and struggle for their competitive advantage. It provides a holistic view of an organization and also helps organizations to find the importance of their work and goals and list them in priority, it. Barnat (2014) stress that strategy formulation, strategy implementation, and evaluation and control are the three stages in continuous process of strategic management. Top management, board of directors, and planning staff are mostly involved in the strategic management process, scholars believe that performing an environmental analysis, establishing organizational direction, formulating organizational strategy, implementing organizational strategy, evaluating and controlling strategy are all include in the major strategic management. The arisen of strategic management could date back to 400 B.C and linked to the works of Sun Tzu and to Carl von Clausewitz in the …show more content…
The top down approach are used by firms, with the core of the decision-making process by the top management. Competitive advantages can be provide and maintain by strategic intent, it also gives a concept about what an organization are necessary to get immediately in order to achieve the company’s vision. Strategic intent can direct the organization’s attention on the need and want of successful, inspiring staff by analysis and telling valuable and existing target market, draw all company’s staffs attention and determination as encourage every individual or team participation to contribute for the firm, and take advantage of strategic intent to conduct resources allocating. Management can focus and give the most weight on the priorities of most important task through using strategic intent, an organization’s resource potential and core competencies influence and affect firms to achieve the impossible and challenging goals in the competitive environment which may seem to be unachievable t at first. A well and complete strategic intent should express guide the development organization or steer the goals and objectives setting that require maximum value to be controlled by all of organization’s competencies
Show More

Related Documents: Strategic Management Case Study

Mr Jones Essay

Damian Jones (08511403) Define Strategic Management and describe its relationship to Project Management Define Strategic Management Strategic management can be defined as an aspect or subset of management that clarifies the purpose of an organization and manages subsequent processes needed to achieve the goals specified by that purpose. Clarification of the purpose of an organization places the expectations of management in context and helps provide clear direction for the entire organisation…

Words 410 - Pages 2

Knowledge Management Essay

Executive Summary The purpose of the research report is to study the importance of knowledge management in business. Synthesis of relevant information using literature review is methodology for this study. Main conclusion is that knowledge management is important in today’s business climate. Table of Contents…

Words 1348 - Pages 6

Strategic Planning Essay

Strategic Planning MT460: Management Policy and Strategy Strategic planning is a critical part of running a successful business. By anticipating environmental changes and unexpected internal and competitive demands, a strategic management team can plan for company’s long-term goals. “Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking”, (Evans, 2010). Formulating a strategic plan helps executives to make…

Words 673 - Pages 3

The Impact Of Strategic Management Decisions

Strategic Management Topic: The Impact of Strategic Management Decisions – Wilkinson (Case Study) Prepared for Mr. Wiethoff RIHE Prepared by M. M. Khan Business Student -- 2nd year, 3rd quarter RIHE 4.03.2013 Wilkinson & its Strategy Businesses must respond to change in order to remain competitive. Developing appropriate strategies, which allow progress, is essential. Wilkinson was founded in 1930 as Wilkinson Cash Stores by James Kemsey Wilkinson and has remained largely in the…

Words 2677 - Pages 11

Strategic Management Essay

Strategic Management Process Paper Norine Roberts MGT/498 March 24, 2015 Terry Dunning Strategic Management Process Paper There are 5 key components of strategic management. The first is goal setting, its purpose is to clarify the vision for a business. Goal setting has three pieces to it, first, defining short and long-term objectives. Second, identifying the process of how to accomplish the objective, and finally, customizing the process for the staff. Analysis is the second key component. This…

Words 441 - Pages 2

Chapter 1 Notes 1 Essay

Chapter 1: Strategic Management HTM 612 Li Miao Learning Objectives • Describe the key elements in the strategic management process. • Discuss the three different perspectives or approaches used in understanding strategy, including the traditional perspective, the resource­based view, and the stakeholder view. • Understand strategy formulation at the corporate, business, and functional level. • Characterize and explain the key players in the lodging and foodservice industries. 2 Definition of Strategic Management…

Words 1100 - Pages 5

HRM As Strategic Partner Essay

Cynthia Steele March 14, 2015 HRM as a Strategic Partner The main purpose of this article is… The purpose of this article is to focus on the importance of the partnership of the human resource department to the success of organization and its workforce. “Profitability is one of the primary reasons why human resources management should be a strategic business partner.” (Ruth Mayhew, 2014) The key question that the authors are addressing is… The key question the authors are addressing…

Words 567 - Pages 3

HNDB CLASS MANAGEMENT ACCOUNTING CHAPTER 1 Essay

Computing HND in Business Management Accounting Management Accounting The nature and purpose of cost and management accounting Contents 1 Accounting for management 2 Cost and management accounting versus financial accounting Accounting for management „ Introduction to cost and management accounting „ Data and information „ Attributes of good information „ Planning, decision-making and control „ Strategic, tactical and operational…

Words 3769 - Pages 16

MT460 Unit1Assignment Essay

how you get there. Strategic management is the foundation of any business. It is a company’s game plan which begins with their vision, mission, and their goals. Strategic management involves planning directing, organized, and the controlling of a company’s strategy-related decision and goals. The Main Components of the Strategic Management Process Having an achievable goal in mind and being successful in communicating that goal from the top executive down. Strategic Management emphasizes the monitoring…

Words 826 - Pages 4

Essay on Charetered Managament Institute Level 7 Diploma - Course Details

Strategic Management and Leadership Level 7 Strategic Management and Leadership Contents Page Qualification structures Unit 7001 Unit 7002 Unit 7003 Unit 7004 Unit 7005 Unit 7006 Unit 7007 Unit 7008 Unit 7009 Unit 7010 Unit 7011 Unit 7012 Unit 7013 Unit 7014 Personal development as a strategic manager Strategic performance management Financial management Strategic information management Conducting a strategic management project Organisational direction Financial planning Strategic marketing…

Words 3591 - Pages 15