By Bart Icles
Many people see strategic management as a task, but what most of them do not understand is that it is more than just merely a task – it is a set of managerial skills that need to be used throughout the organization and in a wide range of functions. The most successful companies today are not only successful because of the continued increase in their profits but because they have effectively managed their strategies. Simply put, these are the companies that are able to focus their efforts on their strategies and in such a strategic manner. And these are not merely strategies that were developed because they merely sound good but because they add value to the target customers of the business.
What me must take note of is that the overall purpose of the whole process of strategic management is to encourage experimental strategic learning. In this way, companies will be able to determine which strategic options or strategic elements will continue to remain strong in different scenarios. In this way, the most robust of the strategic options and elements can be used to develop strategic intent which will become the core strategic focus of the company.
The core strategic focus is often described and discussed in detail in the corporate or company vision. This is why a lot of business owners and managers consider the formulation of a vision and mission statement as a very important process and activity. Many of them spend a good amount of time determining what it is they really want, comparing it with what they think their customers want, as well as what their customers actually want. In this way, they will be able to better come up with a vision that is in line with where they really want to be and what they really want to accomplish in the future.
However, more than just plain strategic management, there are some managers who have shifted their focus towards strategic cross-functional management. They consider this a key element in capitalizing on functional excellence. This kind of management also requires functional specialist to take a broader view of their functions so they can make the greatest possible contribution to the organization, as well as better understand how they fit into the whole organizational process and overall organizational strategy.
Views about strategic management can change over time and one can expect it to undergo continuous development. What is important is that businesses are able to have a good grasp of this concept so they can continuously find ways to make the most out of the opportunities that they are able to uncover, without deviating from the company vision, mission, goals, and objectives.
CMOE has been helping companies with strategic management and team building since 1978. Through strategic managment and other innovative business techniques CMOE has established themselves a leader in the business world. Visit www.cmoe.com for more information.
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MLA Style Citation:
Icles, Bart "A Few Lessons In Strategic Management." A Few Lessons In Strategic Management. 27 Jun. 2010. uberarticles.com. 25 Dec 2014 <http://uberarticles.com/business/team-building/a-few-lessons-in-strategic-management/>.
APA Style Citation:
Icles, B (2010, June 27). A Few Lessons In Strategic Management. Retrieved December 25, 2014, from http://uberarticles.com/business/team-building/a-few-lessons-in-strategic-management/
Chicago Style Citation:
Icles, Bart "A Few Lessons In Strategic Management" uberarticles.com. http://uberarticles.com/business/team-building/a-few-lessons-in-strategic-management/
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