Strategic Management Concept & Fundamental is comprised of the following points. Such as:- .1 ORGANIZATIONAL PHILOSOPHY 2. POLICY 3. STRATEGIC PLANNING 4. STRATEGIC PLAN 5. STRATEGY Main resource: http://higherstudy.org/strategic-management-concept-fundamental/

1. STRATEGIC MANAGEMENT

2. STRATEGIC MANAGEMENT CONCEPT &
FUNDAMENTAL
• ORGANIZATIONAL PHILOSOPHY
• POLICY
• STRATEGIC PLANNING
• STRATEGIC PLAN
• STRATEGY

3. ORGANIZATIONAL PHILOSOPHY
ORGANIZATIONAL PHILOSOPHY IS THE FIRST ONE ISSUE OF STRATEGIC
MANAGEMENT CONCEPT. ORGANIZATIONAL PHILOSOPHY ESTABLISHES THE
RELATIONSHIP BETWEEN THE ORGANIZATION AND ITS STAKEHOLDERS. IT
ESTABLISHES THE VALUES AND BELIEFS OR THE ORGANIZATION ABOUT WHAT IS
IMPORTANT IN BOTH LIFE AND BUSINESS, HOW BUSINESS SHOULD BE
CONDUCTED, ITS VIEW OF HUMANITY, ITS ROLE IN SOCIETY, THE WAY THE
WORLD WORKS AND WHAT IS TO BE HELD INVIOLATE. IN MOST ORGANIZATIONS,
THE GUIDING PHILOSOPHY IS FORMULATED BY THE OWNER OR FOUNDER OR
THE CEO. THEIR BELIEFS ABOUT, FOR EXAMPLE, THE IMPORTANCE OF
EMPLOYEES AS INDIVIDUALS, OF FORMALITY IN COMMUNICATION AND BELIEF IN
SUPERIOR QUALITY AND SERVICE ARE REFLECTED IN THE PHILOSOPHY.

4. POLICY
YOU SHOULD BE CLEAR ABOUT THE MAIN DIFFERENCE BETWEEN A STRATEGY
AND POLICY. POLICY GUIDES A MANAGER’S THINKING IN DECISION MAKING;
STRATEGY IMPLIES THE COMMITMENT OF RESOURCES IN A GIVEN DIRECTION.
HOWEVER, SOMETIMES THESE TWO CONCEPTS MAY HAVE AN OVERLAPPING
EFFECT. ONE COMPANY MAY HAVE A ‘POLICY OF GROWTH THROUGH
ACQUISITION OF OTHER FIRMS’, WHILE ANOTHER COMPANY MAY HAVE A ‘POLICY
OF GROWTH ONLY BY EXPANDING PRESENT MARKETS AND PRODUCTS’. WHILE
THESE ARE POLICIES, THEY ARE ALSO ESSENTIAL ELEMENTS OF MAJOR
STRATEGIES.

5. STRATEGIC PLANNING
STRATEGIC PLANNING FOCUSES ON THE FUTURE. UNLIKE CONVENTION
PLANNING WHICH MAINLY FOCUSES ON CURRENT PROBLEMS, STRATEGIC
PLANNING LOOKS TO THE FUTURE. UNLIKE CONVENTION PLANNING WHICH
MAINLY FOCUSES ON CURRENT PROBLEMS, STRATEGIC PLANNING LOOKS TO
THE FUTURE. IT ENCOMPASSES THE ENTIRE GAMUT OF THE ENVIRONMENT OF
THE ORGANIZATION. THUS IT CALLS FOR SWOT ANALYSIS AND FORECASTING. IT
REQUIRES CREATIVE, STRATEGIC THINKING. IT DEMANDS INNOVATIVE IDEAS ON
THE PART OF THE PLANNERS.

6. STRATEGIC PLAN
CONVENTIONALLY STRATEGIC PLAN CONCEALMENTS A TIME RETRO OF MORE
THAN ONE YEAR. BUT NOWADAYS, AS A CONSEQUENCE OF THE HIGH HASTE OF
CHANGE IN NUMEROUS INDUSTRIES, STRATEGIC PLANS ARE MADE EVEN FOR
QUARTERLY USE. THE TIME-SPAN OF THE STRATEGIC PLAN NEEDS TO BE
SHORTER, SOMETIMES MEASURED IN MONTHS, IN THE ORGANIZATIONS
INVOLVED IN E-BUSINESS.

7. STRATEGY
A FEW MORE WORDS ABOUT STRATEGY. THE WORD ‘STRATEGY’ IS ADAPTED
FROM THE MILITARY ADMINISTRATION. IN THE MILITARY, MOST OFTEN STRATEGY
REFERS TO ‘DEPLOYMENT’ OF TROOPS – THAT MEANS MANEUVERING OF
TROOPS INTO POSITION BEFORE THE ENEMY IS ACTUALLY ENGAGED. IN
BUSINESS, WE CAN SUBSTITUTE ‘RESOURCES’ FOR TROOPS. BUSINESS PEOPLE
DEPLOY RESOURCES OF VARIOUS TYPES TO ACHIEVE OBJECTIVES. THESE ARE
THE DIFFERENT ISSUES OF STRATEGIC MANAGEMENT CONCEPT.

8. THANKYOU
BY AL-IMRAN AKANDA
Behalf of
http://HigherStudy.org