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Strategic Management
Strategic Management is an integral part of all the organizations across the world. With a proper Strategic Management it becomes easier for a company to formulate and implement its ideas and concepts in a fruitful way. The board of directors of a company are usually involved in formulating all such Strategic Management. However, it is the CEO of the company who ultimately has to take the final decision.
The field of Strategic Management involves all kinds of decisions related to the analysis and research of the market competitors, self evaluation and environmental details. Company policy and salary structure including bonus to the workers and launching of all kinds of products also come under the Strategic Management Program. On every general meeting of the Company certain essential postulates are decided. Long term goals, an increase in target and an evaluation of the revenue generation are all assess at every such annual general meeting. Strategic Management may also include some Human Resource Policies so that the talent pool of the company increases to a large extent. A clear cut plan that involves all the segments of the company including the business units, the clients involved and the corporate objectives must always feature in Strategic Management.
Since no company can progress without a substantial amount of resource and capital, inflow of money and enough man power are some of the most essential part of all Strategic Management. Monitoring newly launched plans, maintaining a strategic graph and ensuring growth prospective for one and all is also an essential part of Strategic Management. Recruitment programs and a whole lot of company policies and maintaining a cordial relationship with the various wings of the company is also a part of Strategic Management. Training of the newly employed people, organizing refresher courses from time to time, listening to worker's point of view and passing across the view of the management are also an integral part of Strategic Management.
In general the Strategic Management may be divided into two major wings, the economic part of Strategic Management deals with all kinds of figures and is primarily responsible for the profit and the loss of the company. The sociological art on the other hand looks into soft skill management. Human interactions, cost benefit analysis, investment return, and expected results from collaborative approaches is dealt with by the Economic Approaches of Strategic Management. Strategic Management also involves generating those qualities in the employees so that they may reach greater heights.
Most multinational companies prefer to diversify their operations on the basis of operations and skills undertaken. A hierarchy is thus an unmistakable part of Strategic Management. Besides giving directions to their respective wings, the heads of each wing are also the middle men, who help you to get connected with the authorities at top. Marketing and distribution strategies differ variedly from the corporate policies of the company. As a part of the Strategic Management every part of the organization should have a fare idea about its future goals and must feel at home with the company policies.
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