Overview of strategic management: a critical analysis and personal interpretation
Overview of strategic management: a critical analysis and personal interpretation
Loading...
Issue Date
2012
Authors
Fregoso, Lorena
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The success of an organization can be attributed to many interconnected and interdependent components, all of which are interwoven in the incredibly complex field of strategic management. Although each component associated with strategic management contributes to the organization in a different manor they all are functioning to meet the organizations stated goals and objectives, which are often times reflected in the organizations strategies. Strategies are formulated to either maintain or gain competitive advantage in the incredibly aggressive market place. However, strategies alone are not enough to enable strategic success. Strategic success and ultimately organizational success require effective leadership. Effective leaders aid in putting into motion or practice the necessary changes that need to take place within an organization in order to attain strategic success. However, no matter how well formulated an organizations strategy is or how effective its leaders are there are still external environmental forces that can cripple or destroy an organization. Although there is no absolute way to prevent such events from happening, an organization has a much better chance of obtaining success if its leaders are experienced, knowledgeable, and skilled in addressing such disruptive events. Although some external environmental forces can not be controlled, the way an organization plans to address such disruptive events, can be. By implementing well formulated and tailored strategies with the effective strategic management necessary to administer, manage, and control such changes affords an organization its best chances for success.
Description
Keywords
Business administration