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APRESENTATION

ONStrategic Management

Stream :- MAM SEM – ISubject :-Business Communication

Prepared By :- 1) Janvi H. Dhorajiya 2)Sophia S. Dodhiya

3)Harita S. GamiSubmitted To :- Shabana Ma`am

(ASS. Professor in Smt. Shantaben Haribhai Gajera MBA Mahila College )

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STRATEGIC MANAGEMENT

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INDEX

• Introduction………………………………………………...5• Definition……………………………………………………..6• Benefit of SM……………………………………………….7• Disadvantages………………………………………………8• Basic element……………….…………………….9 to 28• Conclusion…………………………………………………29• Bibliography……………………………………………….30

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INTRODUCTION• The set of managerial decisions and actions

that determines the long-run performance of a corporation.

• Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives.

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DEFINITION

Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in internal and external environments. ...

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Benefits of Strategic Management

Clearer sense of strategic visionSharper focus on what is strategically importantImproved understanding of rapidly changing environment

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• The Future Doesn't Unfold As Anticipated • It Can Be Expensive • Long Term Benefit vs. Immediate Results • Impedes Flexibility

Disadvantages

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Environmental

scanning

Strategy formula

Strategy implementa

tion

Evaluation and control

Basic Elements of SMBasic Elements of SM

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1.Environmental scanning

• Its is the monitoring evaluating, and disseminating of information from the external and internal environments to key people within the organization.

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Environmental scanning

Its main purpose is to identify external and internal elements then will determine the future of the corporation.The simplest way to conduct environmental scanning is through SWOT Analysis.

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Internal Environment

• Consists of variables that are within the organization itself.

• They are the strengths and weakness of the corporation.

• They include corporation, structure, culture and resources.

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External Environment

Consists of variables that are outside the organization.These refer to the opportunities and threats.

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2. Strategy Formulation

It is the development of long range plans.Its includes defining corporate mission, specifying achievable objectives, developing strategies and setting policy guidelines.

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MISSION

The purpose or reason for the corporation’s existence. It tells who the company is, what they do as well as what they’d like to become.

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The end results of planned activity. They state WHAT is to be accomplished by WHEN. They should be quantified,

if possible Should be specific, measurable and obtainable.

OBJECTIVES

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Strategies

Its states how the corporation will achieve its mission and objectives.

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VISION

It is descript of something in future.An organizational charter of core values and principles.A puller into the future.

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Policies

Its is a board guideline for decision making that links the formulation of a strategy with its implantation.

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3. Strategy implementation

It is a process by which strategies an policies are out put into action through the development of programs, budgets and procedures.Sometimes referred to as operational planning.

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ProgramsIt is statement of the activities or steps needs to accomplish a single use plan.It makes a strategy action oriented.

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Budgets

It is statement of a corporation`s programs in terms of dollars.It lists the detailed cost of each program.

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Procedures

Sometimes termed as Standard Operating Procedures (SOP)It is a sequential steps or techniques that describe in detail how a particular task or job is to be done.

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4.Evaluation and Control• It is a process in which corporate activities and

performance results are monitored so that actual performance can be compared with desired performance.

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Performance

It is the end result of activities.It includes the actual outcomes of the strategic management process.

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Triggering Events

It is something that acts as a stimulus for a change in strategy.

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Conclusion

• Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies. it entails specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans.

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Bibliography

• http://en.wikipedia.org/wiki/Strategic_management

• http://www.businessdictionary.com/definition/strategic-management.html

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