Strategic Management in Modern Business Environment
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STARTGIC MANAGEMENT
I
B.COM
Introduction
The advent of Liberalisation, Privatisation and Globalisation, corporate can operate
successfully by creating and delivering superior value to target customers and also learning
how to adapt to a continuously changing environment. So to cope up with changing
conditions in their industries, companies need to be farsighted and visionary, and must
develop long term strategies.
Definition of Strategic Management
William F. Glueck
defines Strategic Management as “ a stream of decisions and actions,
which leads to the development of an effective strategy or strategies to help achieve
corporation objectives”.
According to
F.R. David
Strategic Management is “a process of formulating,
implementation, and evaluating cross-functional decisions that enable an organization to
achieve its objectives”.
Need for Strategic management
Increasing Rate of Change
Higher Motivation of Employees
Strategic Decision-Making
Optimization of Profits
Features of Strategic Management
Responsibility of top management
Conscious Process
Organized and systemized method of managing
Long range time span
Requires Foresight
Dependent on Personal Qualities
Goal Oriented Process
Primary Process
Importance of Strategic Management
Alternative in Employees
Increase in the Efficiency of the employees
Incase in profitability
Reduction in Fixed and Flexible Expense
Motivation to Group Activity
Reduction in cost of capital
Acceptance of Organizational changes
Increase in rate of return on investment
Thank You
In the era of liberalization, privatization, and globalization, companies must evolve and adapt to succeed. Strategic management plays a crucial role in helping organizations formulate effective strategies to achieve their objectives. This involves making informed decisions, optimizing profits, and enhancing employee motivation and efficiency. The process is driven by foresight, goal orientation, and conscious planning by top management to navigate the dynamic business landscape successfully.
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Presentation Transcript
STARTGIC MANAGEMENT I B.COM
Introduction The advent of Liberalisation, Privatisation and Globalisation, corporate can operate successfully by creating and delivering superior value to target customers and also learning how to adapt to a continuously changing environment. So to cope up with changing conditions in their industries, companies need to be farsighted and visionary, and must develop long term strategies.
Definition of Strategic Management William F. Glueck defines Strategic Management as a stream of decisions and actions, which leads to the development of an effective strategy or strategies to help achieve corporation objectives . According to F.R. David Strategic Management is a process of formulating, implementation, and evaluating cross-functional decisions that enable an organization to achieve its objectives .
Need for Strategic management Increasing Rate of Change Higher Motivation of Employees Strategic Decision-Making Optimization of Profits
Features of Strategic Management Responsibility of top management Conscious Process Organized and systemized method of managing Long range time span Requires Foresight Dependent on Personal Qualities Goal Oriented Process Primary Process
Importance of Strategic Management Alternative in Employees Increase in the Efficiency of the employees Incase in profitability Reduction in Fixed and Flexible Expense Motivation to Group Activity Reduction in cost of capital Acceptance of Organizational changes Increase in rate of return on investment
