Strategic management is a process in which management takes initiatives on behalf of corporate owners to use resources and increase the productivity of their company. All actions should reflect the mission, vision, goals and policies of the organization. This is done through the development and implementation of programs aimed at achieving goals, and the available resources are used accordingly. This is the level of managerial action that sets goals for tactics. Enter the address of the organization. However, this applies not only to managers, but also to the board of directors and other interested parties, and is based on its internal management structure.
Strategic management as a whole is an ongoing process that evaluates and monitors the organization and the industries that affect it. He evaluates his competitors and sets goals and methods for achieving them and competing with them. Reassessment of tools and methodology is carried out quarterly if competition is high, and annually if it has a great advantage over others.
This is done in order to determine whether there has been an improvement in the application of strategies and whether the progress achieved is in line with the expected result. ADavid Steinberg Zetareassessment is also underway to consider new issues in terms of technology, new competitors, social and economic changes, and political interests.
The first step in strategic management is to compile and disseminate a statement of the organization’s mission. This will determine the extent to which the organization can take and associate it with the intention of serving its customers. The initial formation of the strategy is divided into several processes. This includes the analysis of the microenvironment and macroenvironment, the assessment of competitors and the results of the organization’s activities compared to them, as well as the consideration of other internal and external factors that directly or indirectly affect the result of the process.