Srinivas K Neelakanta
STRATEGIC MANAGEMENT AND ISO 9000
Strategic management is the art, science, and craft of formulating, implementing, and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives. It is the process of specifying the organization's mission, vision, and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. Strategic management seeks to coordinate and integrate the activities of the various functional areas of a business in order to achieve long-term organizational objectives. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. ISO 9000 is a family of standards for quality management systems. ISO 9000 is maintained by ISO, the International Organization for Standardization and is administered by accreditation and certification bodies. INTRODUCTION
Processes Strategic management is a combination of three main processes, which are as follows (as documented by Lemon Consulting) Strategy Formulation- Performing a situation analysis, self-evaluation and competitor analysis: both internal and external; both micro-environmental and macro-environmental. Strategy Implementation- Allocation and management of sufficient resources (financial, personnel, time, technology support) Strategy Evaluation- Measuring the effectiveness of the organizational strategy. It is extremely important to conduct a SWOT analysis to figure out the strengths, weaknesses, opportunities, and threats (both internal and external) of the entity in question. This may require to take certain precautionary measures or even to change the entire strategy. Suitability- Suitability deals with the overall rationale of the strategy. The key point to...