-
The Impact Of Strategic Management On Organisational Performance
CHAPTER ONE -- [Total Page(s) 3]
Page 1 of 3
-
-
-
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
The
performance of organization is the focus of intensive research efforts;
how well an organization performs its mission and accomplishes is its
goals of programs delivery is to paramount concern.
The success of
failure of a strategy is significantly determined by the quality of
leadership displayed by the strategy leader normally the CEO, during the
strategy implementation process.
In today's increasingly chaotic
world and an ever changing environment, it is not enough to just keep
the organization afloat it is far more essential to make steady progress
toward some well- defined objectives.
Modem knowledge based
organization are ideal setting for the application of strategic
management practices strategy, in effect it's management's game plans
for strengthening the organization's position, pleasing customers and
achieving performance targets. Managers devise strategies to guide how
the organizations business win be conducted and to help the make
reasoned and make cohesive choices among alternative causes of action.
The strategic managers decides and indicates e path and action the y
could choose, they decide to tallow particular rate d conduct their
business in that particular manner without a strategy, a manage has no
roadmap to follow, to manage and no unified action programme to produce
the intended results.
Strategic management is defined by thompson and
Strickland (2001) as “the process whereby managers establish an
organization's ng-term direction, set specific performance objectives,
develop strategies to achieve these objectives in the light of all the
relevant internal and external circumstances and undertake to execute
the choose action planâ€.
Strategic management has five critical and interrelated managerial tasks explained thus.
·
Deciding (what business organization will engage in) and forming
a strategic vision of an organization wants to go) and human
resources development of those who are to get it there). It in effect
enhances productivity, providing long-term direction and establishing a
clear mission to be accomplished.
· Crafting a strategy to achieve e desired results.
· Implementing and executing the chosen strategy efficiently and effectively.
·
Evaluating performance, reviewing developments and initiating
corrective adjustments in10 g-term directions, objectives, strategy or
implementation in light of actual experience, changing condition new
ideas and opportunities.
· It involves a rational analysis and planning which provides the "road map" for fulfilling that future.
Furthermore,
the task of evaluation organization performance would entails a
greater degree use of strategic management practice and to initiate any
corrective adjustment lies both the end and the beginning of strategy
management cycle.
In addition, strategic management practices are
hypothesized, and have an impact in the organizational process and
enhances coordination of work for a well-designed productivity,
therefore strategy managers must stay close enough to the situation to
detect when changing conditions requires a strategic response and when
they don’t. It is their job to sense the winds of change, recognize
significant changes and initiate adjustments.
1.1 STATENMENT OF THE PROBLEMS
Those
engaged in strategic management practices need to be aware of certain
often,organization’s external environment poses. externally imposed
threats may stem from cheaper technologies, the advent of new substitute
products, adverse economic trends restrictive government action,
changing consumer va1ves and lifestyles, projection of natural resources
depletion, unfavorable demographic shifts, n w sources of strong
competition and the likes; such threat can be a major factor in shaping
organizational strategy.
As it occurs with all management techniques,
individual will need extensive training and refresher training to
answer unforeseen questions that arise in response to implementation,
conflict, confusion and chaos will prevail initially and for sometimes
therefore, only individual learn how to do it and see its valve will the
benefit of strategic management be realized.
In an empirical study
noting e impact of strategic management on organizational performance,
the m [or problems that are associated with bad performance and lack of
strategic management can be highlighted below.
·
CHAPTER ONE -- [Total Page(s) 3]
Page 1 of 3
-
-
ABSRACT - [ Total Page(s): 1 ]The strategic management function is perhaps the most fundamental and most important aspect of management and managing. It takes superior entrepreneurship and competent strategic implementation and execution to produce superior organizational performance over the long-run. A great strategic plan that is flawlessly executed seldom produces gold star results either.In the light of the above, this chapter is to carry out a literature review on strategic management and its impact on organizational e ... Continue reading---
