In strategic management, managers must know how the different parts of the organization and its environment fit together. It is crucial in understanding how they affects and influence each other.
To understand what is strategic management, we need to ask the following questions:-
How did our organization reach the situation it is today?
Why is it producing these particular products or services?
Why you are located here?
Why are you serving a particular part of the market place?
Why are you organized this way?
It boils down to decisions of course!
How these major (or strategic) decisions about products, location, structure and senior management appointments are made and how they are implemented can be defined as the process of strategic management.
Corporate planning process can be adhoc or opportunistic (less structured) approach for small firms; fashion clothing retailer. It is more logical and structured approach to making strategy for big MNCs like Glaxo, Philips, SIA etc.,
Who undertakes the strategic decisions or the corporate planning process?
Senior management team, Staff analysts (technical work)
Implementations by middle and junior managers.
Strategic Reviews and Scenario Planning on a quarterly or half yearly basis well facilitated by a professional facilitator and consultant brings about the best result in Organizational Change Development.
Organizations that do not plan strategically will ultimately lead to failure!
Don’t take it lightly if we are serious about our organizations survival and success.
If your organization needs such professional service, contact us
And we will be very glad to advise and serve you.