Defining Strategic Management
Benefits of Strategic Planning
Mistakes of Strategic Planning and How to Avoid Them
The Methodology of My Research
The purpose of this paper is to evaluate strategic management processes within organizations and also evaluate how employees comprehend the policies and decisions made by their management. The results of the strategic management process survey shows that it is vital for companies to build a plan for processes and then execute them successfully. Organizations should gradually implement a managing process which meets company goals and objectives. The strategic management process is an effective resource that helps organizations fulfill their processes in an efficient manner. Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages (Bateman and Snell, 2002). In today’s businesses, strategic management has improved its value to help organization’s function successfully within an active and complicated environment.
Enclosed are results from the survey presented to approximately 100 people concerning strategic management in their organizations. According to the results, it was discovered that most companies have a formal strategic planning process (Chart A), but do not use the process to make their most important decisions. The results also show that more than half of the respondents are content with their organization’s methods to making strategic decisions. However, less than half of the respondents did not agree with their company’s strategic management methods.
The significance of this study is to look into strategic management practices within organizations and to evaluate if their practices are enhancing their... [continues]
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