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Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
Strategic management   overview
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Strategic management overview

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  • 1. Strategic Management Overview
  • 2. What is strategic Management? •A process that involves carrying out decisions and actions to develop an appropriate strategy (means) to achieve an organization's objectives.
  • 3. • Process whereby managers establish an organization's long term direction, set objectives, develop strategies to achieve these objectives in light of the internal and external circumstances, and undertake to execute the chosen action plans
  • 4. •Determination of the basic long term goals and objectives of an organization, and adoption of courses of action and allocation of resources necessary to carry out these goals
  • 5. Characteristics of strategic management • It is a process • Futuristic and long term orientation • An integrated and comprehensive approach • Focus on strategy as a central theme • Focuses on creating competitive superiority • Top management point of view • Prioritizing resource allocation
  • 6. History of Strategic Management • From art of war • From the Greek word ‘strategeia’ meaning the art or science of being the general • Originally known as the grand plan which included the strategic plan and the implementation plan of acting on those plans • The grand strategy approach was later adopted into business in form of business strategy which is embedded in strategic management
  • 7. Cont- • From the mass production era of the industrial revolution in light of the 1st and 2nd world war which destroyed what was in place lead to more concern for long term survival hence need for strategic planning and strategy implementation • The two main reasons for the ever increasing need for strategic management are1) the ever changing business environment & 2) the rapid increase in size and complexity of companies.
  • 8. The strategic Management Framework • Defining the business of the firm / enterprise • Setting objectives & performance targets • Formulating strategies • Implementing the selected strategy • Evaluation and control
  • 9. The Strategic Planning Process • This is the process of revising the existence of the enterprise (mission statement), setting the long-term goals and objectives in view of your environment, formulating the best strategy of getting where you want to be. • It does not include the strategy implementation phase(1/2 way the battle of outwitting your rivals)
  • 10. The Strategic Planning Process • This is the process of revising the existence of the enterprise (mission statement), setting the long-term goals and objectives in view of your environment, formulating the best strategy of getting where you want to be. • It does not include the strategy implementation phase(1/2 way the battle of outwitting your rivals)

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