Strategic Management Essay -- Business essays research papers

Strategic managementIntroductionTo deal effectively with the enormous array of factors affecting the ability of a ancestry to grow and prosper, managers contract advanced adjoines they feel will facilitate the optimal positioning of the business in its competitive environment. Such positioning is possible with strategic solicitude because this process improves preparedness for unexpected internal or competitive demands.Therefore, strategic prudence is an all-inclusive approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.For a strategic management plan to be successful, however, every manager should all the way see the need for changeBe firmly committed to the idea of changing the business planning processAssure that the strategic management process has credibility with everyone involvedMake sure that final plans are realistic and reflect actual resources and capabilitiesTrain all participants in the procedures essential to the strategic management processDevelop concise and well-organized plansOne of the worlds best performing natural resources companies created a unique organizational structure that combines the advantages of small business units with virtual structures - groupings of these business units - that can address different strategic issues and competitive environments.OverviewThe formality of the strategic management process varies widely. Formality refers to the degree to which membership, responsibilities, authority and prudence in decision making are specified. It is an important consideration in the study and application of strategic management because the degree of formality is usually positively correlated with the cost, comprehensiveness, accuracy and success of planning. The requirements for small business indicate the need for a moderate degree of formality. This is consistent with the ability to communicate face-to-face (size) and the need for flexibi lity (changing demands). The important issue is involvement with the process, not generating reams of paperwork (Camerer, 195-219).Resistance to change should be reduced. Businesses vary in the processes they use to formulate and direct their strategic management activities. Many using sophisticated planning techniques have developed more detai... ...heir management of their organizations, due to their important role in the culture formation and rescue process. They need to be continually aware of the cultural values espoused through their behavior and actions.ReferencesAstley, W.G., and C.J. Fombrun, 1983, Collective StrategySocial Ecology of Organizational Environments. Academy ofManagement Review 8 pp. 576-587Burgelman, R.A. 1996, A Process Model of Strategic BusinessExit Implications for an Evolutionary Perspective onStrategy. Strategic Management Journal 17 pp. 193-214Camerer, Colin F. 1994, Does Strategy Research Need GameTheory? In Fundamental Issues in Strategy A ResearchA genda. Richard P. Rumelt, Dan E. Schendel, and David J.Teece (eds.). Pp. 195-219. Boston Harvard BusinessSchool water closetGalbraith, Jay R. 1995, Designing Organizations An ExecutiveBriefing on Strategy, Structure and Process, SanFrancisco Jossey-Bass Publishers pp. 12-15Harrison, Jeffrey S., and Caron H. St. John, 1998, StrategicManagement of Organizations and Stakeholders Concepts.2nd Edition. Cincinnati, OH South-Western CollegePublishing, pp. 44-59