Friday, February 1, 2019
Benefits of strategic management Essay -- essays research papers fc
look for has revealed that organisations that engage in strategic perplexity generally out-perform those that do nonThe connotation of the ancient Greek word strategos, in its various well-formed forms, implies meaning of skilful manoeuvouring leading to achieving a highly crucial seat or attaining a desired end. Commonly associated with the military operations, strategies aim at methodical out-performance of adversaries. Analogically, application of deliberate strategies in the business vigilance linguistic context suggests combination of activities directed at becoming superior to business opponents. Hence, it lav be assumed that engaging in these activities will produce let on business results than not doing so.This essay attempts to provide evidence to support the orifice statement. It firstly reviews the purpose of managerial activities from the historic perspective. It, then discusses the impact of strategic management process components on organisational performance and finally describes benefits of strategic thinking and strategic integration.The analysis concentrates on matching the theoretical principles of strategic management with the pragmatic business ex antiophthalmic factorles. For the purpose of this discussion, out-performance has been defined as surviving on the existing or successful entering the new market.Although definitions of management ikon from very simple statements, like the one of Frederick Taylor knowing exactly what you compliments people to do and then seeing that they do it in the shell and cheapest way (Taylor, 1903, p. 21) to complex postulates listing managerial activities and objectives (Davidson & adenosine monophosphateere Griffin, 2003, p. 5), their common denominator points to a set of deliberate actions to achieve organisational efficiency using resources wisely (Davidson & Griffin, 2003, p. 7) and effectiveness making the right decisions (Davidson & Griffin, 2003, p. 7).Accompanied by a large v olume of the theoretical work, management practice, can therefore be broadly described as a constant search for the optimum performance methodologies. Thus, from the historical point of view, it can be proposed that strategic management is a twentieth century form of the management discipline that emerged as a result of the evolution process necessitated by the dislodges in the organisational interior(a) and external environment. The environmental chang... ...siness Policy, prentice & Hall, recent Jersey.Wooldridge, A. (1999), The mankind in your pocket, The Economist, 353, 8140, supplement 1-26. In Davidson, P. & Griffin, R. W. (2003), Management An Australasian Perspective, John Wiley & Sons Australia, LTD, Milton.BIBLIOGRAPHYBartol, K.,Martin, D., Tein, M. & Matthews, G. (1998), Management A pacific Rim Focus, The McGraw-Hill Australia, Roseville.Connor, T. (2002), The resource-based view of strategy and its value to practising managers, Strategic Change, Sep-O ct, pp. 307 316.Davidson, P. & Griffin, R. W. (2003), Management An Australasian Perspective, John Wiley & Sons Australia, LTD, Milton.Graetz, F., Rimmer, M., Lawrence, A. & Smith, A. (2002), Managing organisational change, John Wiley & Sons, Milton.Hubbard, G. (2000), Strategic Management Thinking, Analysis and Action, Prentice Hall, Frenchs Forest.Powell, T. C. (2001), Competitive Advantage Logical and Philosophical Considerations, Strategic Management Journal, Vol. 22, pp. 875 888.Wheelen, T. L. & Hunger, D. J. (2004), Strategic Management and Business Policy, Prentice & Hall, New Jersey.