STRATEGIC MANAGEMENT term papers and essays

Strategic management is an umbrella management procedure under which all successful businesses should operate. Many individuals who start their own businesses fail because they devote all of their time to producing widgets and neglect to account for the strategic management process that is necessary to guide and grow their company. Strategic management is that process by which time is spent evaluating a company's mission, values, goals, objectives, etc. Time and thought must be spent on determining these factors and then on devising means to implement the decided upon strategies. Chief executive officers and company board members would be ultimately responsible for the strategic management process which involves 1) determining the goals or mission of the company; 2) analyzing the current method of operation and whether it is helping the company to achieve its goals; 3) formulating strategies that will help the company achieve its goals; 4) implementing the strategies; and finally, a continuing process of evaluation that brings the process back to step one. Strategic management is a continuous procedure of analysis and implementation. The Strategic Management Society was founded in 1980 and exists to help business managers and consultants continue to learn and practice effective strategic management through conferences and the publication of The Strategic Management Journal.

Most relevant essays on STRATEGIC MANAGEMENT