4. STRATEGIC MANAGEMENT
It involves setting objectives
analyzing the competitive environment
analyzing the internal organization
evaluating strategies
ensuring that management rolls out
the strategies across the organization.
5. IMPORTANCE OF STRATEGIC MANAGEMENT
To shape future business
To make discipline
To make control
Its decentralized the management
Helps to increase productivity
7. ORGANIZATIONAL STRATEGY
it is the sum of the actions
a company intends to take to achieve long-term
goals.
Together, these actions make up a
company's strategic plan.
8. WHAT IS STRATEGY
Strategy is Dynamic
Strategy is a Long-Term Plan
Strategy is a Road-Map
Working towards Goals to Achieve a Vision
9.
10. VISION
Description of something in the future (kotter)
Category of intentions that are board,all inclusive
and forward thinking ( Miller &Dess)
11. MISSION
Purpose or reason for the organisation’s existence
( Hunger n Wheelen )
Thompson defines mission as the “essential
purpose of the organisation, concerning particularly
why it is in existence , the nature of the business it
is in, and the customers it seeks to serve and
satisfy”
12. DIFFERENCE BETWEEN VISION AND MISSION
STATEMENTS
vision
statement focuses on
tomorrow
what an organization
wants to ultimately
become
The vision statement
gives the company
direction.
A mission
statement focuses on
today
what an organization
does to achieve it.
The mission
statement drives the
company.
Vision Mission
13.
14. ELEMENTS OF MISSION STATEMENT
Feasible
Precise
Clear
Motivating
Distinctive
Major components of strategy
Indicate how objectives are accomplished
15. ASSIGNMENT
Write about the importance of mission statement ,
why it is important to have mission statement for a
company or corporation?
Write any 2 vision and mission statement of any
company in world with proper documentation
16. IMPORTANCE OF MISSION STATEMENT
provides a road to development and drive for growth.
provides a clear sense of purpose , direction, and
desired future state and when this image is widely
shared individuals are able o find their own roles both in
the organization and in the society.
empowers individuals and confers status on employees
because they see themselves as a apart of a worth
while enterprise.
results in a clear definition of the business of a
company.
helps in modifying, extending and developing the
existing ongoing business.
makes everybody imbibe the spirit and inspires
employees.