search as strategic decision. How
would strategic management model
be helpful to you in identifying and
securing the most promising
position”
managing the pursuit of organizational
mission while managing the
relationship of the organization to its
environment (James M. Higgins).
the formulation and implementation of
strategies designed to achieve the
objectives of the organization (John A.
Pearce II and Richard B. Robinson,
Jr.).
organization's objectives, and making,
implementing, and controlling
decisions focused on achieving these
objectives in the present and future
environments(Garry D. Smith, Danny
R. Arnold, Bobby G. Bizzell).
process that involves attempts to match
or fit the organization with its changing
environment in the most advantageous
way possible (Lester A. Digman).
management is the process of
determining the future direction of the
organization and implementing
decision that aim at achieving the
organization strategic objectives.
strategic management model, a
number of steps are taken to achieve
the objectives of a company.
Different strategic management
models are chosen by various
companies according to their
conveniences.
– About strategic management model
Strategic management model is also known as strategic planning model. A
strategic planning model is selected for the purpose of formulating and
implementing the strategic management plan of a particular organization.
Nevertheless, it has been proved that no strategic planning model is
perfect. Every company designs its own strategic planning model
frequently by choosing a model and transforming it as the company
advances into formulating its strategic management plan procedures. A
number of strategic planning model options are available for the
companies from which they can choose.
– The components of a strategic management model
In the decade of 1970s, a large number of corporations followed a
recognized strategic planning model, which is top down in nature.
According to this model, strategic planning was a calculated procedure
where the top management would design the strategy of the company and
after that it was passed on downward in the company for application. The
steps involved in this strategic planning model were the following:
Mission
Often, the organization's mission is
defined in a formal, written mission
statement. Decisions or mission are the
most important strategic decisions,
because the mission is meant to guide
the entire organization. Although the
terms "purpose" and "mission" are
often used interchangeably, to
distinguish between them may help in
understanding organizational goals.
Objectives
points of an organization's
mission. Objectives refer to the
specific kinds of results the
organizations seek to achieve through
its existence and operations(William F.
Glueck, and Lawrence R. Jauch)
Objective define what it is the
organization hopes to accomplish, both
over the long and short term.
Strategies
that the basic objectives of the
enterprise are achieved through proper
execution by the organization"
(William F. Glueck, and Lawrence R.
Jauch). Strategy formulation is the
process of establishing the
organization's mission, objectives,
and choosing among alternative
strategies. Sometimes strategy
formulation is called "strategic
planning
Situation Analysis (internal and
external)
Analysis) and SWOT Analysis
(Strengths, Weaknesses,
Opportunities and Threats Analysis).
Internal analysis is an important
component of situation analysis,
which studies the condition within
the company taking into account the
following factors:
External analysis
elements to the company’s survival. So
the manager must focus on how the
suppliers shareholders and the
competitors are kept in check for the
company long run development of the
company.
The control
The control function includes activities
undertaken by managers to ensure that
actual control
Control tools and techniques help
managers pinpoint the organizational
strengths and weaknesses on which
useful control strategy must focus.
to be used, while financial control
techniques require some form of
financial data such as profits, costs, or
revenues. Each of the control
techniques is intended for a different
purpose. Therefore, in order to make
rational choices about which control
techniques to implement, managers
must understand what a given control
techniques can and cannot do.
rewards and punishments, selection
procedures, socialization and training,
the management hierarchy,
management by exception, inventory
and quality control, and PERT.
liabilities, sustain adequate liquidity,
and achieve general operating
efficiency. Some of the best-known
and most commonly used financial
control techniques are: budgets, ratio
analysis, break-even analysis, and
accounting audits
A strategic planning model is applied
in functional domains like the
following:
Research and development
Marketing
Production
Procurement
Information systems
Human resources
Forms of Strategic Management
Models
The different types of strategic
management models can be
categorized into the following types:
Basic strategic planning model
Alignment strategic planning model
Goal-based or issue-based strategic
planning model
Self-organizing or organic strategic
planning model
Scenario strategic planning model
Conclusion and recommendations
process. There are three stages in this
process: strategy formulation, strategy
implementation, and evaluation and
control.
management models indicates that they
all include the following
steps: performing an environmental
analysis, establishing organizational
direction, formulating organizational
strategy, implementing organizational
strategy, evaluating and controlling
strategy.
mostly involves top management,
board of directors, and planning staff.
In its final form, a strategic decisions is
molded from the streams of inputs,
decisions, and actions.
strategic management process. The
success of an organization is generally
dependent upon the strategic
management and organizational
abilities of the managers.
financial and nonfinancial benefits
which can be derived from a strategicmanagement approach to decision
making.
continue to undergo change. Therefore,
understanding and following and
complete process of strategic
management can be helpful to
practicing managers to gain
organizations' objectives.
PARTICIPANTS
SHABAN, HADIJA
00977
REG.
NYITI, GLORIA PHILIP
00976
REG.
MWITUMBA, BENNO B.
REG. 00937
NDOMBA, JUSTUS DAMAS
REG. 01016
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Journal 20 (1999): 147–166.
Digman, L. Strategic
Management. Houston: Dame, 1997.
Day. "Strategic Attributes and
Performance in the BCG
Matrix." Academy of Management
Journal (1982): 500–509.
to Competitive Advantage: Impacts on
Systematic Variance and Unexplained
Variance in Returns." Strategic
Management Journal 20 (1999): 375–
384.