Many of us have heard the organization's strategy, the organization's vision, the strategic goals of the organization, the development and implementation of the organization's strategy, the strategic direction of the organization, the short-term and long-term strategy of the organization, and so on. However, do we know what strategy management is about and what benefits the organization benefits from it?
Strategy management - what is it?
Strategic management is in a certain sense a process during which there is: a) definition of the company's strategy or, in other words, the strategic goals of the organization, i.e. what the organization wants to become in a certain period of time, and how the agreed goals will be pursued – an implementation plan is prepared, b) the plan is implemented and c) monitoring and control is carried out on how well the agreed strategic goals are achieved.
What is the benefit of strategy management for the organization?
The benefits of strategic management can be found in a variety of ways if strategic management is a well-implemented practice in an organization. Here are some of them:
if the strategic goals of the organization are specific and clear, this allows people in the organization to understand where the direction is being made in a certain period of time. It is important that the strategic goals of the organization do not sound like slogans. Slogans are motivated for people, strategic goals are for determining the desired results
provides an opportunity for the entire organization to focus on what is important, that is, to perform those actions that are necessary to achieve the goals of the organization and to be able to say no to those actions that do not create any value for the achievement of strategic goals
correct implementation of strategic management and clearly communicated strategic goals of the organization help people to maintain motivation in working and achieving the agreed strategic goals. If the direction of the organization is not clear, then most often people feel lost, because they do not understand what they have to do one or another job for
from the side of the practice of strategic management, monitoring and control are an important part: the correct implementation of this part of the process provides an opportunity to measure in a certain period of time whether and how quickly the achievement of the organization's goals is approaching, and if the results are not as expected, we can take steps to adjust the course of action
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