PRESENTATION ON STRATEGIC MANAGEMENT

presented byDeepanshu Arvind Daman

CONTENTS
INTRODUCTION MEANING OF STRATEGY AND STRATEGY MANAGEMENT. FEATURES OF STRATEGY MANAGEMENT. NEED OR COMPONENT OF SM. IMPORTANCE AND ADVANTAGES OF SM. STRATEGY MANAGEMENT PROCESS. LIMITATIONS OF STRATEGY MANAGEMENT .

INTRODUCTION
The economic liberalization & globalization started in India in 1991 & since then the word strategic management has become a vital name in Indian business corporate. The other terms used for strategic management are business policy corporate strategic & corporate planning.

MEANING OF STRATEGY AND STRATEGY MANAGEMENT

According to Randall B. Dunham & John H. Pierce Strategy is the art & science of combating the many resources available to achieve the best match between an organisation and its environment According to Arthur Sharplin Strategic management is the formulation & implementation of plan and carrying out of activities relating to the matters which are of vital, pervasive or continuing importance to the total organisation

FEATURES OF STRATEGY MANAGEMENT

Strategic issues warrant top management decisions. Strategic issues involve the allocation of large amounts and resources. Strategic issues are likely to have impinging impact on the long term prosperity of the firm Strategic issues are future oriented. Strategic Management is process. Strategic Management stresses both efficiency & effectiveness.

NEED OR COMPONENT OF SM

Increasing rate of changes. Higher motivation of employees. Strategic decision making. Optimisation of profits. Miscellaneous.

IMPORTANCE AND ADVANTAGES OF SM

There is a regular evaluation of decisions already taken and policies being pursued under Strategic Management. Strategic Management is helpful in meeting competition effectively. Strategic Management is helpful in the management more dynamic & best suited to the prevailing business environment. Strategic Management is specially useful in the performance of certain managerial functions. There is either no resistance from the employees when the strategic policies are introduced. All business policies are made open to employees in the form of policy manuals.

A constant watch is kept over the general administration of a business unit & chance of serious problems arises in future become remote. Strategic Management helps in certain areas such as delegation of authority, coordination of various activities, performance evaluation & control.

STRATEGY MANAGEMENT PROCESS

1. 2.

Identification of business objectives & purpose Formulation of strategies- In strategy formulation, The first two are internal whereas the last two are external to an organization.

a.

Strength

b.
c. d.

Weakness Opportunities Threats

Implementation This involve a number of administrative and operational decisions. The following are the three important component of strategy. a. Resource implementation b. Organizational implementation c. Functional policy implementation 4. Evaluation of strategies- the evaluation of strategies is undertaken to measure the success of strategies employed to realize the main objectives of an enterprise. 3.

The evaluation process consists of the following Fixing standards. Measuring performance. Analysing variance. Taking corrective action.

LIMITATIONS OF STRATEGY MANAGEMENT

It inflicts rigidity in the organization Its inadequate appreciation No match in strategy formulation implementation

and