Strategic Management

 

 

Please provide brief explanation about the Strategic Management by answering the following question:

What are the elements of the strategic management process?
How are they interrelated?

 

Sample Solution

Strategic Management

Strategic management is defined as a process of specifying the objectives of the organization, developing policies and planning to achieve the objectives, and then allocating resources so that plans can be implemented. Strategic management is considered to the highest level of managerial activity that the top management of the organization performs and also the executive team. Organizations are supposed to select the directions in which it will move towards. Strategic management has three major elements, which include strategic analysis, strategic choice, and strategic implementation. These three elements are interconnected in that in order for a strategy choice to be selected, there must be an analysis option so that to determine the strategy that is going to be effective and efficient for the organization.

complete power over the group the leader must gain the trust and belief of the group that they are capable of success, by ensuring the group are both satisfied and meeting performance goals. The importance of establishing a hierarchy became evident during the planning stage of the outdoor management course for the red team, the coordinators within the team assumed leadership roles but were unable to gain positional power due to the team being a peer group (Pettinger, 2007). The leaders selected had little authority and influence over the group as everyone was perceived to have the same rank, status and occupation, hence the leaders had none of French and Ravens five bases of power (Pettinger, 2007). The result was leaders with no positional power over the group, so could not direct the group with the method of leadership required for the situation. The task had significant constraints, particularly a short time frame and a large group size, for this situation Chelladurai recommends an autocratic leadership style would be most favourable (Chelladurai and Madella, 2006). The leaders attempted an autocratic leadership style, setting individual tasks for the group, however due to the poor leader member relations and lack of positional power the leadership structure quickly became a democracy. The product was an extremely unproductive workforce initially because of the time spent discussing how was best to approach the task. Because of how the leaders were perceived by the group there was little mutual trust, respect or confidence that the leaders were making the correct decisions, and as a result any management style they tried to implement would have been unsuccessful (Pettinger, 2007). Ultimately, if the leaders had analysed their position and the group they would have realised this and chosen a more democratic approach initially the group would have gained trust for the leaders, making future policy implementation easier.

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