The prime factor of Strategic Management Assignment is considered as the management of resources of the organization to gain its objectives. The activities deal with setting goals of the business, analyzing the competitive business environment, analyzing the organization’s internal status, evaluating the same and making strategies, and ensuring management rolls in fixing policy across the business house.
Strategic management is dissected into multiple numbers of schools of thought. A planned approach to carry out strategic management describes how strategies should be determined, while a clear type strategy focuses on the issues of how policies should be applied practically. These schools differ on whether strategies are developed by following an analytic process. All related dangers and chances are encountered, or general guiding principles to be adopted.
The Best Strategic Management Assignment For MBA Students
Companies, universities, non-profits, and other sectors can use strategic management as a principle to achieve objectives.
An organization with flexible attitudes can find it easy to make suitable changes to its framework and programs, while the companies that are not flexible may have to struggle in a changing environment.
A strategic manager may supervise strategic management planning and plan ways and means for organizations to attain their benchmark.
The subject of Strategic management for MBA students is subdivided into multiple numbers of theories. An authoritarian method of approach defines how strategies should be planned and created, while a brutal approach concentrates on the methodology of application of the policy successfully. These two kinds of approaches differ on the issue of whether strategies developed through an analytic method or not.
Key Issues: Organizations like Companies, Universities, NGOs, etc. can apply these theories to meet goals.
In cases of Flexible companies, it may find it convenient to make changes to their framework and planning; in the other place, inflexible ones may feel challenging to survive in a changing environment.
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In strategic management, all the following factors are essential:
- Business Culture,
- Competencies of Employees,
- Organizational Structure
Each of the above factors influences the achievement of an organization of the desired objectives. Companies who lack flexibilities, find it difficult to succeed in such a competitive and changing business climate. Placing an obstacle between the development of strategies and their implementation can make it difficult for managers to decide whether objectives have been met satisfactorily.
Upper management of a company is finally responsible for its strategy, which may often found to be originated from lower-level managers and general employees. An organization is found to have several employees engaged in building strategy rather than relying entirely on the chief executive officer (CEO) for guidance required if any.
Thus it is observed that Strategic management can be adopted for internal and external communication as well as to overseeing, which makes it sure that the company meets the desired objectives as framed in its strategic management plan.
Profit oriented technical institutes love to increase the admission of new students and enroll student graduation numbers over the next three years. The motive is to name the college known as the best earning for a student’s money among five for-profit technical colleges, with a target of increasing revenue.
In such a situation, strategic management ensures the schools have funds to create high-technology oriented classrooms and laboratories and hire the most qualified professors. The college also makes investments in marketing and recruitment and implements student retention strategies.
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