Business management strategy deals with developing an effective underlying framework for company management activities by guiding, managing and organizing the business process. This includes managing the resources available to the organization, the processes and activities of the different levels of the organization, the interactions between the different levels, and the relationships between the different levels, and the customer base and potential customers of the organization. A good strategy will make all these activities work together harmoniously to achieve the organization’s overall goals.
Involves Number Of Activities
Business strategy management involves a number of activities. These activities can be grouped into five main categories:
Strategic Planning – The first phase involves designing the overall organizational objectives and goals. In this stage, the goal of the organization is decided, the method by which it will be achieved, the resources that are required to achieve the goal, the resources required to support the overall objective and the cost of achieving the goal, and the methods by which the resources can be obtained.
Strategic Management – This phase is concerned with developing a detailed plan of action. The objective of the company and the resources needed for its achievement should be clearly defined, and strategies for achieving these objectives should be planned.
Strategic Planning and Implementation – In this phase, strategic management includes the planning, implementation and evaluation of the strategies. These include the decision making process in regards to what resources the organization should obtain, how the resources will be used and who will be in charge of the resources, the implementation strategy, and the evaluation of the strategic management program.
Strategic Management and Accountability – This phase is concerned with the management of the strategic management system, the creation of an effective overall management structure, and the administration of the overall management system. A formal management committee may also be created to oversee the implementation.
Management Systems – The third phase involves the development of strategic management systems to implement the strategic management processes. A number of such systems may be created by using various methodologies, such as the business process model, the concept of flowcharts, or the concept of micro-processes. Business models may include models based on the development of manufacturing processes, production procedures and sales processes, while flowcharts have a map-like format depicting the different stages of the manufacturing process.
Management Systems and Accountability – This phase involves the management of the different aspects of the strategic management systems, including the management of the strategic management systems, the management of the management systems and the analysis of performance. The organization and the management team must then develop a method of evaluating the performance of the strategic management systems. Accountability includes the collection of data to determine where improvements have been made, whether changes have been necessary, and whether corrective measures have been implemented.
Managing the Strategic Management System – The fourth and final phase of the Strategic Management Process is concerned with the management of the strategic management systems. This phase involves the implementation of the strategic management systems and the management of the strategic management systems.
The fifth phase of the Strategic Management Process is concerned with the design and implementation of the strategic management systems. The implementation involves the designing, building and testing of the strategic management systems. A strategic management system can include a single system, a set of systems, or a group of systems.
The sixth and last phase of strategic management is concerned with the management of the organization. The sixth phase includes the implementation of the strategic management systems and the management of the organizations. The organization will be guided by the strategy for achieving its ultimate goal, and the goals of the strategic management system that it has developed.
Strategic Management, as you can see, is very important in any organization, but it is especially important in businesses. It is not something that can be ignored.