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. THANK YOU BY AL-IMRAN AKANDA Behalf of http://HigherStudy.org