Goal of Organization and Strategic Management

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The Strategic Management is important for the organization because of the planning and implementation of strategic management process change with respect to the goals of the organization. Business adopt strategic management to make sure that the goals of the organization do not fall below the trends in the industry.

Setting of Goals

The first step in strategic management is setting of goals which include the vision and mission formation for meeting the goals and objectives of the organization. The strategic management plan is also the starting point in setting the sales target and revenue generation model. The Strategic Management Plan gives the business idea of operating in a competitive environment.

Formation for Analysis

A thorough analysis of the organization’s Strength Weakness Opportunities and Threats are important in strategic management. The factors that are affecting the organization internally and externally is taken care of in Strategic Management. The analysis also gives way in creating ways to adopt new technologies through developing markets.

Formation of Strategy

The strategy formation process involves the development of specific actions which will help the organization in meeting the goals. The formation is strategy is done by giving priorities for the things that are found out through analysis. The strategies for increasing profit and adding more advantage over the competition is also part of the formation of strategy.

Implementation and Monitoring of Strategies

The process of bringing all strategies plans to live is part of the implementation process. Creation of budgets programs and policies are part of the implementation process. for everything to work out smoothly complete cooperation between the various department is necessary. The monitoring of strategies involves checking whether the goals are met in the organization.

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