Elements of Strategic management:
Main components and main attributes of Strategic Management
Principle:
Illustrates the linkage between strategic content that needs to be managed
Issues:
Main issues of strategic management are:
- Strategic analysis (or appraisal)
- Strategic choice
- Strategic implementation
1+2 defined by the Strategy formulation or development, Strategy Process
Applications:
Typical symptoms of an organisation in need of strategic plan and management is:
- Business stagnation or deterioration
- Crisis management as a normal mode of operation
- Senior management frustration at an inability to get things done
- Excessively political and personalised decision-making
- Customers and suppliers confused about the form’s direction and product strategy
Source of Strategic management:
Johnson, G (2014)