Introduction

Strategic management involves the formulation and implementation of the major goals and
initiatives taken by a company's top management on behalf of owners, based on consideration
of resources and an assessment of the internal and external environments in which the
organization complete.. Strategy is defined as the purpose of the basic long-term goals of an
enterprise, and the acceptance of courses of action and the allocation of resources necessary for
carrying out these goals. Strategies are established to set direction, focus attempt, define or make
clear the organization, and provide regularity or direct in response to the environment.
Strategic management involves the related concepts of strategic planning and strategic thinking.
Strategic planning is analytical in nature and refers to formal procedures to produce the data and
analyses used as inputs for strategic thinking, which synthesizes the data resulting in the
strategy. Strategic planning may also refer to control mechanisms used to implement the strategy
once it is determined. In other words, strategic planning happens around the strategic thinking or
strategy making activity.
Strategic
management
is
often
described
as
involving
two
major
processes: formulation and implementation of strategy. While described in order below, in
practice the two processes are iterative and each provides input for the other.

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Strengths of the theories

1. Stake holders

A person, group or organization that has interest or concern in an organization.

Stakeholders can affect or be affected by the organization's actions, objectives and policies.
Some examples
stakeholders
are creditors, directors, employees, government (and
its agencies), owners (shareholders), suppliers, unions,
and
the community from
which
the business draws its resources.
Not all stakeholders are equal. A company's customers are entitled to fair trading practices but
they are not allowed to the same consideration as the company's employees.
An example of a negative impact on
cut costs and plans a round of layoffs.

stakeholders

a) Strengths of Stakeholder
Get to know stakeholders better:
Relative importance, power and interests
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is

when

company needs to

 Better managed relationships

Risks identified
Make better strategies and decisions
Greater acceptance of organization actions by stakeholders
Decision makers / project managers have been required to work more inclusively with a wide
range of stakeholders. Strake holders values, political concerns ability to influence the top
management many times shadow the purely technical view points. We must bring stake holders
values into the risk assessments. Stakeholders are no longer satisfied with the Three I model
: inform, invite, and ignore. It is acknowledged that the result of a decision making process
better chance of being viewed as fair and credible when stakeholders have participated in the
deliberation process.
It can be summarized as
Identify the stakeholders likely to be affected by or influence the activities of the organization
Assess how those stakeholders could be impacted or impact upon the organization
Expect the consequences of any change in the organizations activities
Identify stakeholders success criteria
Assure a successful outcome for the organization by developing co-operation with
stakeholder saps stakeholder behavior according to its balance of three characteristics:
Power: Of the stakeholder to influence the organization
Legitimacy: of the relationship in terms of desirability or appropriateness
Urgency: The expectations of the stakeholder in terms of criticality and time-sensitivity
Focus on most important stakeholder
2

Business process and Re - Engineering

A business process or business method is a collection of linked, structured activities or tasks that
produce a specific service or product (serve a particular goal) for a particular customer or
customers. It may often be visualized as a flow chart of a sequence of activities with interleaving
decision points or as a Process Matrix of a sequence of activities with bearing rules based on data
in the process.And BPR is the fundamental rethinking and radical redesign of business
processes to achieve dramatic improvements in critical, contemporary measures of performance,
such as cost, quality, service and speed. Improved customer satisfaction is often the primary aim.
Prior to re-engineering, it took IBM Credit between one and two weeks to issue credit, often
losing customers during this period.

On investigation it was found that performing the actual work only took 90 minutes. The
rest of the time (more than seven days!) was spent passing the form from one department
to the next.

The solution was to replace specialists (e.g. credit checkers) with generalists - one person
(a deal 'structure') processes the entire application from beginning to end.

Post re-engineering, the process took only minutes or hours.

The following are common features of re-engineered processes:

several jobs are combined into one

workers make real decisions

work is performed where it makes most sense

checks and controls are reduced

reconciliation processes are reduced

a case manager provides a point of contact.

a) Strengths of BPR

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PR revolves around customer needs and helps to give an appropriate focus to the
business.

BPR provides cost advantages that assist the organisation's competitive position.

BPR encourages a long-term strategic view of operational processes by asking radical

questions about how things are done and how processes could be improved.

BPR helps overcome the short-sighted approaches that sometimes emerge from excessive
concentration on functional boundaries. By focusing on entire processes the exercise can
streamline activities throughout the organisation.

BPR can help to reduce organisational complexity by eliminating unnecessary activities.

Talent Management

Talent management is just another one of those Human Resources terms. Talent management is
an organization's commitment to recruit, retain, and develop the most talented and superior
employees available in the job market.

So, talent management is a useful term when it describes an organization's commitment to hire,
manage and retain talented employees. It comprises all of the work processes and systems that
are related to retaining and developing a superior workforce.
What appears to differentiate talent management focused practitioners and organizations from
organizations that use terminology such as human capital management or performance
management, is their focus on the manager's role, as opposed to reliance on Human Resources,
for the life cycle of an employee within an organization.

a) Strengths of Talent Management

Right Person in the right Job: Through a proper ascertainment of people skills and
strengths, people decisions gain a strategic agenda. The skill or competency mapping
allows you to take stock of skill inventories lying with the organization. This is especially
important both from the perspective of the organization as well as the employee because
the right person is deployed in the right position and employee productivity is increased.
Also since there is a better alignment between an individuals interests and his job profile
the job satisfaction is increased.

Retaining the top talent: Despite changes in the global economy, attrition remains a
major concern of organizations. Retaining top talent is important to leadership and
growth in the marketplace. Organisations that fail to retain their top talent are at the risk
of losing out to competitors. The focus is now on charting employee retention programs
and strategies to recruit, develop, retain and engage quality people. Employee growth in a
career has to be taken care of, while succession planning is being performed those who
are on the radar need to be kept in loop so that they know their performance is being
rewarded.

Better Hiring: The quality of an organization is the quality of workforce it possesses.

The best way to have talent at the top is have talent at the bottom. No wonder then talent
management programs and trainings, hiring assessments have become an integral aspect
of HR processes nowadays.

Understanding Employees Better: Employee assessments give deep insights to the

management about their employees. Their development needs, career aspirations,
strengths and weaknesses, abilities, likes and dislikes. It is easier therefore to determine
what motivates whom and this helps a lot Job enrichment process.

Better professional development decisions: When an organization gets to know who its
high potential is, it becomes easier to invest in their professional development. Since
development calls for investment decisions towards learning, training and development
of the individual either for growth, succession planning, performance management etc, an
organization remains bothered where to make this investment and talent management just
make this easier for them.

Apart from this having a strong talent management culture also determines how organization rate
their organizations as work places. In addition if employees are positive about the talent
management practices of the organization, they are more likely to have confidence in the future
of their organization. The resultant is a workforce that is more committed and engaged
determined to outperform their competitors and ensure a leadership position in the market for
their organization.

Blue Ocean Strategy

Blue Ocean Strategy created by W. Chan Kim and Rene Mauborgne is a new way of
thinking, a new strategic mind-set that charts a bold new path to winning the future.
It challenges the belief of competitive strategy and calls for a shift in focus from competing to
creating new market space and therefore making the competition unrelated. Coming with
proven analytical frameworks for creating and capturing blue oceans, the blue ocean strategic
approach makes a model shift in the field of strategy and practice.
a) Strengths of Ocean strategy

Highlights the importance of strategic planning as a business activity

Reinforces the need for management to be visionary and think out-side

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Innovation

Innovation strategy is a key factor in the success or many companies, specifically those
industries dealing specifically in the fiercely competitive field of technology.
Strengths

Profit margins increase

Product diversification

Satisfying consumer needs

Markets development;

Personalized services;

Increase of competitive advantage;

Use of economies of scale.

Weakness of the Theories

1. Weakness of Stakeholders
a
b

Best done on continuous basis

Assessment of analysis may be subjective

Maybe not all stakeholder interests can be met at the same time - Balance & reconcile all
interests according to importance or urgency
2

Weakness of BPR

BPR was sometimes seen (incorrectly) as a means of making small improvements in

existing practices. In reality, it should be a more radical approach that questions whether
existing practices make any sense in their present form.

BPR was often perceived (incorrectly) as a single, once-for-all cost-cutting exercise. In

reality, it is not primarily concerned with cost cutting (though cost reductions often
result), and should be regarded as on-going rather than once-for-all. This misconception
often creates hostility in the minds of staff who see the exercise as a threat to their
security.

BPR requires a far-reaching and long-term commitment by management and staff.

Securing this is not an easy task, and many organisations have rejected the whole idea as
not worth the effort.

In many cases business processes were not redesigned but merely automated.

In some cases the efficiency of one department was improved at the expense of the
overall process. To make BPR work requires a focus on integrated processes (as
discussed above) that often involves obliterating existing processes and creating new
ones.

Some companies became so focused on improving internal processes that they failed to
keep up with competitors' activities in the market.

Most companies are now more likely to talk about 'business process redesign' instead.
3

Weakness of Talents management

Costs
The time, resources and financial costs to operate a talent management program can be high.
This is a burden for small business that don't necessarily have the resources to implement such a
system.
Many companies have one or more HR professionals spending much of their time to develop and
implement talent management, but a business with few employees may find those labor hours
best spent in other ways. Talent management programs also involve the use of software solutions
to map out talent needs at all levels or departments, which can be expensive.
Worker Conflicts
Several workplace realities impede the impact of talent management. Many small businesses rely
on part-time and temporary workers. Keeping them motivated while trying to focus on the longterm tenure of full-time, permanent employees is difficult. If your business relies on workers
who you don't need or expect to be around for long, it may not be worth the effort to install a
formal talent management program.
Multi-generational workplaces also present challenges. Companies of all sizes struggle to come
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up with effective recruiting strategies that don't discriminate by age, and offering rewards for
workers at varying ages that may have different motivations can be difficult.
Leadership Limitations
A June 2008 "Bloomberg Businessweek" article pointed out that the leadership pipeline is often
not full enough to carry out talent management. HR professionals often map out the leadership
needs for the business and the skills required at each level. Small businesses may struggle to
bring in and develop enough effective store managers or business unit leaders to complete with
other small companies as well as larger competitors. To recruit more aggressively, including in
other geographic areas, only adds to the costs of talent management.
HR and Management Conflicts
A core drawback of talent management for small companies is that the programs are often
developed and coordinated by human resources professionals. Smaller companies may not have
full HR staffs. Instead, managers often hire, train, motivate and fire their own workers while also
performing critical business duties. This means managers don't have the time in many cases to
implement talent management. Even companies that do have HR professionals often get
frustrated at the difficulty of getting managers to concentrate on talent management needs instead
of focusing entirely on other business concerns.
4

Weakness of Blue Ocean Strategy

Makes many assumptions about how companies currently operate which are arguable. Its
foundation is so poor that its credibility is in serious question
In particular, managers are expected to undertake customer interviews and use this as one
of the basis for their planning such market analysis would likely be invalid with
catastrophic consequences for the company
Many of the other so called proofs in the book are extremely self serving such as the

Weakness of Innovation

The product is not a accepted by the market

To innovate it might imply high investments that are not paid back during
the product life cycle;

Excessive concentration of resources and attention on the new product at

the expense of quality and marketing of the existing products;
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04 Combination of various Theories

When consider about the innovation as a strategic theory can be connect all other strategic
networks together as I mentioned above. Thats why stake holders hope always new things of
their business way to face the completion and get profit than other competitors. They have
beliefs innovation can make a change in business feild.they hope when change the ongoing
strategies their business. The company manage their HRM strategy properly correct people go to
correct felid. Then proper knowledge of them will suck out for their field. And they are try ing do
best thing. because of employees got their carrier. then various innovation ideas will come out
for the organization.

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Conclusion

I suggest that there is a need to connecting theories, and I propose networking

with theories can be done in different ways using different networking strategies
focussing on different aspects of theory and for different aims, namely
understanding each other (themselves).
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