STRATEGIC MANAGEMENT AND PLANNING

Strategic Management and Planning

Strategic Management and Planning

What is strategic management? 

Strategic management can be utilized to work out objective, dream, standards, goals, objectives, functions and responsibilities, timelines, etc. (Levinson,1984,396)

 

What is strategic planning? 

 Strategic designing is an administration device, period. As with any administration device, it is utilized for one reason only: to assist an association manages a better job - to aim its power, to double-check that constituents of the association are employed in the direction of the identical goals, to consider and adapt the organization's main heading in answer to an altering environment. In short, strategic designing is a well controlled effort to make basic conclusions and activities that form and direct what an association is, what it does, and why it does it, with an aim on the future. (Adapted from Bryson's Strategic Planning in Public and Nonprofit Organizations). (Johnson,2008,978)

A phrase by phrase dissection of this delineation presents the key components that underlie the significance and achievement of a strategic designing process: The method is strategic because it engages organizing the best way to reply to the attenuating components of the organization's natural environment, if or not its attenuating components are renowned in advance; nonprofits often should reply to dynamic and even hostile environments. Being strategic, then, entails being clear about the organization's objectives, being cognizant of the organization's assets, and integrating both into being attentively responsive to a dynamic environment.  (Johnson,2008,978)

Finally, the method is about basic conclusions and activities because alternatives should be made in alignment to response the sequence of inquiries cited above. The design is finally nothing less, and no less, than a set of conclusions about what to manage, why to manage it, and how to manage it. Because it is unrealistic to manage everything that desires to be finished in this world, strategic designing suggests that some organizational conclusions and activities are more significant than other ones - and that much of the scheme lies in producing the strong conclusions about what is most significant to accomplishing organizational success.  (Chaffee,1985,1)

The strategic designing can be convoluted, demanding, and even untidy, but it is habitually characterized by the rudimentary concepts delineated overhead - and you can habitually come back to these basics for insight into your own strategic designing process.

 What is the distinction between strategic designing and long-range planning? 

Although numerous use these periods interchangeably, strategic designing and long-range designing disagree in their focus on the "assumed" environment. Long-range designing is usually advised to signify the development of a design for accomplishing an aim or set of goals over a time span of some years, with the assumption that present information about future situation is adequately dependable to double-check the plan's reliability over the length of its implementation. In the late fifties and early sixties, for demonstration, the US. Economy was somewhat steady and rather predictable, and, thus, long-range designing was both trendy and useful. On the other hand, strategic designing supposes that an association should be responsive to a dynamic, altering natural environment (not ...