3. The term strategy was derived from the military
science/management. For our purpose, a strategy is a long
term comprehensive action plan formulated by the top level
management to ensure strategic fit. A strategy is a means
for achieving organizational goals.
Strategy management is the process of evaluating and
selecting the best strategic option from among the available
alternative strategies.
CONCEPT OF STRATEGY MANAGEMENT
4. COMPONENTS/STEPS OF SM
1. Strategic Planning
2. Strategy Implementation
3. Strategy Evaluation and Control (along with
feed Back to the next planning process)
6. IMPORTANCE OF STRATEGY
MANAGEMENT
1. Delivers Value
2. Exploits Core Competency
3. Deals with Opportunities and Threats
4. Competitive Capability
5. Manages Changes
6. Long term perspective
7. To make action oriented planning
8. Sustaining competitive advantage
9. A means for achieving Organizational goals
7. STRATEGIC LEADERSHIP
It is the capability to inspire people to
successfully engage in a process of continuous
change, performance enhancement and
implementation of organizational strategy.