Strategic Management Concepts

 

Define the listed concepts below and then provide a personal example of how this specific concept would be used. Please do not copy the definitions word-for-word. The information in the textbook should be paraphrased in your own words and cited and referenced as a paraphrased information (in APA format) and not as direct quotes.

Your response for each of the concepts below should be written in one (1) paragraph-long response. Please make sure each concept answer is identified so your instructor knows which specific concept you are addressing.

Define Strategic Management.
Define Strategic Planning.
Define Continuous Improvement.
Define Competitive Strategy.

 

Sample Solution

Strategic Management Concepts

Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to constantly assess their strategies for success. The strategic management process helps organizations take stock of their present situation, chalk out strategies, deploy them and analyze the effectiveness of the implemented management strategies. Assigning tasks to people that are tracked with a lightweight process such as meeting minutes or a team task list and alignment of goals and strategy at the organization, department, team and individual contributor levels are examples of strategic management.

This document provides an overview of the operational requirements in terms of fire safety. It details many perceived fire safety hazards across the venue through its various phases including build up; the event and de-rig which focuses on and is relevant to all visitors to the site including staff, contractors and the general public. Discussion: This document provides the venue, event manager and all other key stakeholders with a tool to analyse potential hazards to personnel from a fire safety point of view. It enables the level of perceived risk to be calculated alongside the likelihood of occurrence that can then be used to ascertain overall risk. This used effectively allows the event manager to formulate methods to reduce or remove the risk of injury from a potential hazard. Once a reduction method is in place the risk factor is recalculated providing an amended indicator. This action allows demonstration of ongoing work to mitigate risk to personal on site that is often focused upon by key stakeholders. This tool is highly useful in terms of providing a safe environment and complying with current relevant legislation. Live 8 Event Safety Plan Description: This document provides the information and documentation pertaining to the entire event, it includes detailed guidance and procedure for all elements of the event including the build and de-rig phases. The document explains in detail the fundamental elements required for the event to operate safely, successfully and in line with legislation. Discussion:

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