Apply Strategic Management Model in Your Own Case
Introduction
Strategic management by definition refers to a process through which an organization analyzes and learns from its internal and external environments so that it establishes strategic direction and creates strategies that are intended to move it into a certain direction, and implement those strategies, all in an effort to satisfy key objectives and stakeholders (Dess, 2003).
Strategic management is vital to the success of every organization. It’s a combination of a driver and the steering wheel. The driver has the destination in the mind and the motive for the travel. The steering wheel directs the car to the direction of destination. Similarly, with strategic management, the mission and objectives of the organization is set and then scanning of the environment in done, followed by formulation and implementation of strategy that leads to the attainability of the set objectives.
In this coursework, I am applying the strategic management model to my own case. I will follow the process and identify the different elements such as my vision and mission, career objectives, self appraisal, the opportunities and threats operating in the job market, the career advancement strategies that I may choose and how I could implement these strategies, and evaluate my performance.
In applying the model of strategic management in my own case, I intend to do it in line with the organization that I intend to set up i.e. the M & C Clean up Ltd. Before delving into this organization and how I am applying the model of strategic management, it is necessary to briefly present the model of strategic management that is going to be applied. This is in the illustration below:
Model of Strategic Management
Environmental Analysis
Establishment of Organizational Direction
Strategy Formulation
Strategy Implementation
Strategy Monitoring, Control and Evaluation
The model is adopted from Dess (2003). What is contained in the model is that, with strategic management, the
Strategic management by definition refers to a process through which an organization analyzes and learns from its internal and external environments so that it establishes strategic direction and creates strategies that are intended to move it into a certain direction, and implement those strategies, all in an effort to satisfy key objectives and stakeholders (Dess, 2003).
Strategic management is vital to the success of every organization. It’s a combination of a driver and the steering wheel. The driver has the destination in the mind and the motive for the travel. The steering wheel directs the car to the direction of destination. Similarly, with strategic management, the mission and objectives of the organization is set and then scanning of the environment in done, followed by formulation and implementation of strategy that leads to the attainability of the set objectives.
In this coursework, I am applying the strategic management model to my own case. I will follow the process and identify the different elements such as my vision and mission, career objectives, self appraisal, the opportunities and threats operating in the job market, the career advancement strategies that I may choose and how I could implement these strategies, and evaluate my performance.
In applying the model of strategic management in my own case, I intend to do it in line with the organization that I intend to set up i.e. the M & C Clean up Ltd. Before delving into this organization and how I am applying the model of strategic management, it is necessary to briefly present the model of strategic management that is going to be applied. This is in the illustration below:
Model of Strategic Management
Environmental Analysis
Establishment of Organizational Direction
Strategy Formulation
Strategy Implementation
Strategy Monitoring, Control and Evaluation
The model is adopted from Dess (2003). What is contained in the model is that, with strategic management, the
References: Dess, G. G & Lumpkin, G. T. (2003). Strategic Management: Creating Competitive Advantages. Boston: McGraw-Hill/Irwin. Pearce. J. A. (2009). Strategic Management: Formulation, Implementation, and Control (11th Ed). New York: McGraw-Hill/Irwin.