Strategic management used to play a different role in more predictable times after the Second Word War. Strategic plans of the past usually range 3 to 5 years. Some companies could even have plans for 10 good years. That's not possible today given rapid evolution of our society. What still matters in strategic management lies in the value of planning ahead. There's an old saying that if you fail to plan, you are planning to fail. By acting on this, strategic management actually gives the organization direction, a sense of identity and unity towards what the business goal. Therein lies the continued importance of strategic management towards business success
importance of an organization's functional areas to the strategic management process and why they must be integrated during the four phases of strategic management
management
Organization.
what is a learning organization? Is this approach to strategic management better than the more traditional top-down approach in which strategic planning is primarily done by top management?
With a strategic human resource department the organization will have people in place to help meet their organization's objectives. Every functional department in an organization should be strategic.
importance of an organization's functional areas to the strategic management process and why they must be integrated during the four phases of strategic management
management
Organization.
what is a learning organization? Is this approach to strategic management better than the more traditional top-down approach in which strategic planning is primarily done by top management?
Strategic management uses strategy, including strategic thinking to make all decisions, often through the lens of a strategic plan. Strategic management accounting is strict focused on fiscally related decisions, also as aligned with the organization's strategic direction.
With a strategic human resource department the organization will have people in place to help meet their organization's objectives. Every functional department in an organization should be strategic.
Strategic management enables managers to evaluate the organization's internal and external situation and decide future actions to take.
to help them accomplish their specific organization objectives
Scope of strategic management -- Organizations are made up of people, people's behavior makes up organizational behavior, managers are people, strategies address the organization, and strategies require operational execution. For the purpose of understanding how to strategically manage an organization, these are not separable disciplines which can be addressed separately. They are interwoven into one discipline - herein titled strategic management. Ultimately there is nothing associated with a business organization outside the purvey of strategic management, as such, it is one perspective of the overall collective management of the organization.
strategic, management and operational plans
operational management involves day to day management of the organisation while strategic management involves the overall management of an organisation which includes making a decision that affect the business over a long time.
Strategic management helps businesses focus on the overall direction of the organization. When a business operates strategically, their manager's decisions are competitive.