Accountant: Concept of Strategic Management

Satisfactory Essays
University of Somalia
Department : Mba
St.Name: Abdullahi Mohomoud Warsame
Lectures: Dr.Sonkor
Task: Concept of Strategic Management
Concepts of strategic management is the future plan and process ongoing now it analyzes the major idea that taken by company’s management on behalf of the stakeholders or owners . The strategic of the company can plan the top management of the so it will connect the resources and performance in external environment .so and simply it can specify the company mission, vision and objectives. the top management of the company designs the allocating the resources to implement the company plans and projects, then they evaluate and controlees the overall performance of the company ‘s objectives . so we can say easily the of level of the strategic management is managerial role tasks they setting always the goal of the firm.
The success and failure of the firm depends on the strategic they had been planned , if they considered good plan your project will success ,if accomplish the tacks that was the strategic of the firm, then the monitoring of the performance is the part of success the project.
Simply we can define the strategic management as plan that we process in the future of the firm, it is the level of the managerial task , they considered the how it will the firm will be the next 3years, or if the firm is manufacture it ask its self how will be our production next three years ? they think the quantity they will produce the next three year.

You May Also Find These Documents Helpful

  • Powerful Essays

    com Preface Strategic management is a stream of decisions and actions with view to develop effective long term and short term planning and policies with technological business forecasting that would help the organization achieve its superior goal. Strategic management includes strategic analysis, strategy formulation, strategic choice, strategy implementation and control strategic decision for an organization to deploy resources into new opportunities. Strategic management is important for Chartered…

    • 104234 Words
    • 417 Pages
    Powerful Essays
  • Satisfactory Essays

    THE CONCEPT OF STRATEGY AND STRATEGIC MANAGEMENT G. Tyge Payne, PhD 1 Strategic Management Strategy: The unifying theme that gives coherence and direction to the decisions of an organization Strategic Management: Consisting of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. Or, the Strategic Management Process is: The full set of commitments, decisions, and actions required for a firm to create value and earn aboveaverage…

    • 1709 Words
    • 7 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Key concepts of strategic management [Strategic Management] The adage “from strategy to structure” has proven effective when followed by organizations such as Spin. The goal is to formulate a strategy and subsequently design a structure to effectively implement the plan. Organizations should ask themselves questions involving issues such as whether or not the company can operate with domestic divisions (or whether it requires international departments), the basis on which the organization should…

    • 476 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    strategies Strategic Management: a set of managerial decisions and actions that determines the long-run performance of a corporation. Includes: Internal and external environment scanning Strategy formulation Strategy implementation Evaluation and control Phases of Strategic Management: Phase 1: Basic financial planning Phase 2: Forecast-based planning Phase 3: Externally oriented strategic planning Phase 4: Strategic management Benefits of Strategic Management: Clearer sense…

    • 656 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    The Strategic Management Process: An Overview The message of this book is that doing a good job of managing inherently requires good strategic thinking. Today’s managers have to think strategically about their company’s position and about the impact of changing conditions. They have to monitor the company’s external environment and internal capabilities closely enough to know when to institute strategy changes. They have to know the business well enough to determine what kinds of strategic changes…

    • 10828 Words
    • 44 Pages
    Powerful Essays
  • Powerful Essays

    sub headings and references (Total 8 pages) ANNOVIM PLC ANNOVIM PLC INTRODUCTION Managers in Annovim Plc have to understand since the early 1980s a number of ‘innovative’ management accounting techniques have been developed such as activity-based techniques (costing, budgeting and management), strategic management accounting and the balanced scorecard. From the context of the assignment, each division is regarded as a profit centre, where the divisional managers of the three divisions i.e…

    • 2594 Words
    • 11 Pages
    Powerful Essays
  • Best Essays

    Concept of Strategic Human Resource Management HLTH 5040 March 31, 2014 Abstract The Concept of Strategic Human Resource Management has a widely use but very arrangement of definition. Research has present reasons that if the concept is to have any social systematic value, it should be defined in a way as to characterize it from traditional personnel management, and to allow the development of testable interpretation about its impact. Concept of Strategic Human Resource Management Thought out…

    • 1654 Words
    • 5 Pages
    Best Essays
  • Satisfactory Essays

    Business Law Notes © 2012 Certified Management Accountants of Ontario. All rights reserved. Business Law Notes Page| i PART 1: LEGAL FUNDAMENTALS .............................................................................................1 SECTION 1-1: INTRODUCTION TO LAW ......................................................................................... 1 Definition and Purpose of Law............................................................................................…

    • 60912 Words
    • 244 Pages
    Satisfactory Essays
  • Good Essays

    dedicated to empowering management accounting and finance professionals to drive business performance. It is also dedicated to rebalancing the accountancy profession by educating society regarding the business building role of management accountants and finance professionals working inside organizations. Most importantly, it provides a dynamic forum for management accounting and financial professionals to develop and advance their careers through its Certified Management Accountant. Benefits of IMA…

    • 839 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Strategic Management

    • 8352 Words
    • 34 Pages

    2 BUSINESS POLICY AND STRATEGIC MANAGEMENT Learning Objectives • • • • • Learn what business policy and strategy is all about. Know the framework and importance of strategic management. Know the strategic management process. Have an understanding of corporate vision and mission. Learn how strategy operates at different levels of the organization. Without a strategy the organization is like a ship without a rudder. Joel Ross and Michael Kami Strategic management is not a box of tricks or a bundle…

    • 8352 Words
    • 34 Pages
    Good Essays