What Is Strategic Management - Definition, Process, Types, Advantages, and Disadvantages - PDF Included - EDUCATIONLEAVES

9/2/22, 6:00 PM What is Strategic Management?
Definition, Process, Types, Advantages, and Disadvantages | PDF Included - EDUCATIONLEAVES
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What is Strategic Management? [PDF Included]
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Definition, Process, Types, Advantages,  5
and Disadvantages | PDF Included

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 advantages and disadvantages of strategic
management, management, strategic management definition, Strategic management pdf, strategic management
processes, strategic management types
In management, strategic management involves the formulation and implementation of the

significant goals and actions taken by an organization‘s managers on behalf of stakeholders,
based on consideration of resources and an evaluation of the internal and
external environments in which the organization performs. Strategic Management provides
overall direction to a business/organization. It involves specifying the organization’s goals,
policies, and plans in order to achieve those goals. It also allocates resources to implement the
plans.
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v e d y aW
1. Definition of Strategic Management Ad
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2. Understanding Strategic Management
3. Components of Strategic Management/ Strategic Management Process
3.1. 1. The Starting Point or Goal Setting
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3.2. 2. Gathering Information and Analyzing
3.3. 3. Forming the Strategy
3.4. 4. Implement the Strategy
3.5. 5. Monitoring
4. Types of Strategic Management
ebook
4.1. SWOT Analysis
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4.2. Balanced Scorecard
5. Advantages of Strategic Management
5.1. 1. Discharges Board Responsibility
5.2. 2. Provides a Framework for Decision Making
5.3. 3. Supports Understanding & Buy-In
5.4. 4. Enables Measurement of Progress
5.5. 5. Provides Organizational Perspective
6. Disadvantages of Strategic Management
6.1. 1. Anticipate the Future Environment
6.2. 2. It is Expensive
6.3. 3. Long-Term Benefits Rather than Immediate Results
6.4. 4. Complex Process
7. Strategic Management PDF
8. Terms Related to Strategic Management Download
8.1. Decision Making:
8.2. Management Skills: In this digital era, we all are
8.3. Management Style: somehow accustomed to the word
8.4. What is Management: “Information System” although not
8.5. Risk Management: well-versed with the concept or

definition. If asked what is
“Information System” one will
Definition of Strategic definitely say the words like

computer or network or database.
Management But an information system is much

more than just a computer or
network. It surrounds us almost
Strategic management is the process of planning, monitoring, analysis, and
every time and is changing every
assessment of all necessities an organization needs to meet its aims and objectives.
day. Nowadays, life seems
Strategic management can also be described as a bundle of decisions and acts which a impossible without it. From the
smartphones in our hands, the Wi-
manager undertakes and which determine the result of the business’s performance.
Fi networks on our college
Understanding Strategic campus–to the traffic lights, sales

management, and billing systems
Management
in the shopping malls, etc.–
Information System is virtually in

every walk of our life.
Strategic management is nothing but planning for both expected and unfeasible possibilities.
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It applies to both small and big organizations as even the smallest organizations face struggle
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and, by formulating and implementing proper strategies, they can attain a sustainable Inirerekomenda ang pag-scan ng system
competitive advantage. detailed
Discussion
Strategic management is a way in which strategists set the objectives and proceed about  March 25, 2022  1 Ad
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attaining them. It deals with planning and implementing decisions about the future direction ×
of an organization. It helps us to recognize the direction in which an organization is running. Communica
tion Skills –
Strategic management is a continuous process that assesses and controls the business and the Importance
industries in which an organization is associated; evaluates its rivals and sets goals and and
Examples
strategies to beat all existing and potential rivals; and then reassesses strategies regularly to
 December 3, 2021  0
determine how it has been performed and if it was successful or does it needs replacement.
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It is nothing but the art of dealing with employees in a manner that maximizes the ability to Engineering
achieve business objectives. The employees become more responsible, more engaged, and productivity e
more satisfied, as they can co-relate themselves very well with each organizational task. They Waydev
can figure out the reaction of environmental changes to the organization and the response of

P&
the organization with the help of strategic management. Therefore, the employees can judge

P &S
the impact of such modifications on their own job and can effectively deal with the changes. S&P Global
The employees and managers must do proper things properly. They need to be both useful
and efficient. S&P Global Mark
One of the major aspects of strategic management is to organize various functional areas of Intelligence
the organization effectively, as well as to assure these functional areas harmonize and get
Set the pace of your company's digi
together well. Another aspect of strategic management is to keep an eye on the aims and transformation with a one-stop kno
objectives of the organization. partner.
Learn More
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Components
 of Strategic
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Management Process TRAGIC ACCIDENT:

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1. The Starting Point or Goal Setting
The most vital element of strategic management revolves around the concept of recognizing
and understanding particular organization goals. Fixing short-term goals is an excellent way
to start, as they act as a direct blueprint in accomplishing long-term objectives. Separating
roles and duties to people and team management should be carried out at this basic stage. The Subscribe
process provides every member of the enterprise with a mission that motivates them in the
long run. Email address:
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2. Gathering Information and
Analyzing Sign up
To make an effective strategic management module, thorough market research should be
conducted. The data gathered from within the organization and the market help in developing
a constructive plan that acts as a foundation for strategic management. This method allows
the company to recognize internal avoidances that have been affecting the operations of the
enterprise.
3. Forming the Strategy

In this section, all the data and information collected are used to form a unique strategy that
satisfies all the necessities and requirements of the company. Based on the human resources
available, the business has to choose and control the asset purchase and recruitment of
experts. Identifying the capability of your resources becomes important in strategic
management.
4. Implement the Strategy

If the planning is the one side of the coin, then implementing those plans is another side of the
coin. In this stage, the employees involved in this process should have a clear idea about the
plan and organizational goals to be implemented with perfection.
5. Monitoring
The monitoring stage involves analyzing, managing, tracking, and evaluating every step that
is associated with the strategic management plan. By this time, you can measure the desired
outcomes with the current outcome. Here, you can do certain adjustments and new planning if
required. 
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Types of Strategic
Management
The strategic management concept can be implemented in various ways. Here are two of the
important strategies I’ll discuss below.
SWOT Analysis
This analysis allows you to inspect internal and external factors. Internal factors are basically
the positive (strength) and negative (weaknesses) factors that are present in your organization.
These factors can be changed if needed. External factors are basically the positive
(opportunities) and the negative (threats) factors that present outside of your organization.
These factors cannot be changed if needed.
The SWOT method helps leaders decide whether the organization’s resources and abilities
will be useful in the competitive environment within which it has to function and to improve
the strategies needed to remain successful in this environment.
Balanced Scorecard
Balanced scorecard aid you find which facets of your business require improvements by
breaking down the performance evaluation method into four areas known as legs. These areas
are;
1. Learning and growth

2. Business processes
3. Customer perspectives
4. Financial data.
This method can generate timely reporting mechanisms that show all statistics associated with
the growth of the company.
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Advantages
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Here are some advantages of strategic management; Ad

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1. Discharges Board Responsibility
The first and the most important reason behind having strategic management is that it
discharges the responsibility of the board of directors.
2. Provides a Framework for

Decision Making
The strategy gives a framework in which all staff can make day-to-day operational decisions
and understand that those decisions are all moving the organization in a single
direction. Providing a framework within which the managing director and staff can make
these decisions benefits them better focus their energies on those things that will help the
organization’s success.
3. Supports Understanding & Buy-In

Empowering the board and staff participation in the strategic discussion allows them to better
understand the direction, why that direction was taken, and the related benefits. For some
individuals, simply knowing is sufficient; for many people, to gain their full support requires
them to learn.
4. Enables Measurement of Progress

Strategic management allows an organization to measure its success. In the setting of
measures of success needs, the organization first decides what is crucial to its ongoing
success and then forces the establishment of objectives and holds these crucial measures in
front of the board of directors and senior management.
5. Provides Organizational
Perspective
Figuring out the operational issues rarely looks at the entire organization and the
interrelatedness of its differing components. Strategic management takes an organizational
view and looks at all the components and the interrelationship between those components in
order to produce a strategy that is excellent for the entire organization and not a single
component.
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Disadvantages
 of Strategic
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1. Anticipate the Future Environment

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One of the significant disadvantages of strategic management is that it requires the

organization to anticipate the future environment in order to build up plans, and, as we all
know, anticipating the future is not a simple task. The conclusion is that if the future does not
unfold as anticipated, then it may cause undermine the strategy taken.
2. It is Expensive
In the not-for-profit sector, there are many organizations that cannot afford to employ an
external consultant to help them build up their strategy. Currently, there are many volunteers
that help smaller organizations and also funding agencies that will support the cost of
employing external consultants in forming a strategy.
3. Long-Term Benefits Rather than

Immediate Results
It is designed for providing long-term benefits rather than short-term results. Most of the time,
it focuses on long-term goals. If you are looking at the strategic management process to
discuss an immediate crisis within your organization, it won’t. It always makes sense to
discuss the immediate crises prior to allocating resources to the strategic management
process.
4. Complex Process
The strategic management involves various types of continuous process which checks all
types of important critical elements. This consists of the internal and external environments,
long-term and short-term objectives, strategic control of the company’s resources, and last but
not least, it also has to look at the organizational structure. This is a long process because a
single variation in one element can affect all the factors.
Being a complex method, it calls for lots of endurance and time from the management in
order to execute strategic management.
Strategic Management PDF
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Terms Related to Strategic

Management
Decision Making:
Decision-making is the analysis of the process by which one can choose between a number of
alternative courses of action for the hope of achieving goals.
A decision may also be considered as a resolution that a manager has reached so as to know
what he should do later on. It calls for both judgemental and imagination exercise to choose
one from many alternatives, so decision making is an intellectual activity. Read More>>>
Management Skills:
Management skills are the capabilities that a manager or leader should have. We can define
management skills as specific concepts or abilities that an administrator should own to fulfill
specific tasks in an organization. Management skills can be acquired through practical

expertise as a manager and learning. The skills help the manager to link up with their co-
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workers and know how to deal with their peers. Which provides a simple flow of activities
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Management Style: Ad
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Management style is a particular way managers go about achieving their goals.
Management style sees the way that a manager plans, handles, makes decisions, assigns,
and manages their staff.
It can vary broadly depending on the company or organization, level of management,

industry, region, culture, and the person himself. An ideal manager is someone who can adjust
their management style in response to various factors while maintaining their focus on
successfully achieving goals. Read More>>>
What is Management:
Management may be defined as the art of work done through people, with the happiness
of the employer, employees, and the public. To do this, it is important to guide, direct,
control human effort towards fulfilling the goal of the enterprise. Read More>>>
Risk Management:
Risk is integral to return. Every investment involves some risk, which is close to zero with a
U.S. T-bill or very high for something such as emerging-market investments or real estate in
highly inflationary markets. Risk is vital both in absolute and relative terms. A solid
understanding of risk in its different forms can help investors to better figure out the
opportunities, trade-offs, and costs associated with different investment approaches. Read
More>>>
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9/2/22, 6:00 PM What is Strategic Management?

Definition, Process, Types, Advantages, and Disadvantages | PDF Included - EDUCATIONLEAVES

and Disadvantages | PDF Included

processes, strategic management types

In management, strategic management involves the formulation and implementation of the

What you are going to learn? 

8.5. Risk Management: well-versed with the concept or

Definition of Strategic definitely say the words like

Management But an information system is much

Understanding Strategic campus–to the traffic lights, sales

Management Process TRAGIC ACCIDENT:

Nawala ang lahat ni Manny Pacquiao.. ×

3. Forming the Strategy

4. Implement the Strategy

 INDUSTRIAL ENGINEERING MANAGEMENT ECONOMICS COMMUNICATION OTHERS

1. Learning and growth

Here are some advantages of strategic management; Ad

2. Provides a Framework for

3. Supports Understanding & Buy-In

4. Enables Measurement of Progress

1. Anticipate the Future Environment

One of the significant disadvantages of strategic management is that it requires the

3. Long-Term Benefits Rather than

Strategic Management PDF

Strategic Management PDF Download PDF

Terms Related to Strategic

It can vary broadly depending on the company or organization, level of management,

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What is Crisis Management? Types of Crisis, Definition, Importance, Advantages

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 January 18, 2021

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