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The Impact Of Strategic Management On Organisational Performance
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Lack of
internal career leader: A career system is necessary to focus individual
attention on the strategic issues facing an organization over the long
term. A long-term perspective induces organizational commitment and
loyalty. It enables individuals and organizations to invest training and
productivity improvements knowing that they will reap the benefits from
that enhanced knowledge and technique.
· Lack of formal
training system: the importance of training has been a Neglected area
and too much of what goes on in today's organization requires specific
adaptation. Therefore managers' functions is the development the people
for future advancement.
· Lack of employee
voice/participation: A theory of individual self- interest, which not
only operates in terms of the economic market but with respect to
socio-political values is primary an attempt to explain an organization
survival.
· Lack of broadly defined jobs: problems
arise when individuals are designed to jobs officially having lower
grades, and a lower grade assignment might be seen psychological as a
career setback.
· Lack of performance-based
compensation: strategic pay requires that all decisions relation to
compensation and benefit are designed to attracts, retain or motivate
employees as such the entire organization rewards structure is designed
to fully serve its mission or purpose.
In addition, strategic
management remains undeniable considering the fact that resources are
inadequate in scope, volume and composition to meet the varying wants of
individuals. Organizations and society couple with the present rapid
realization that the environment is increasingly becoming unpredictable
where nothing has an air of certainty.
1.2 ORGANIZATIONAL PERFORMANCE AS RELATED TO STRATEGIC MANAGEMENT
The desired organization performance and financial result has achieved through the following:
· Growth in revenues and earnings
· Return on investment (ROI)
· Financial strength (capital base)
· Earning power and stability
· Technological and improvement.
·
Strategic objectives convert the strategic mission into specific
targets, specific market standing and competitive position, and specific
committed to action thus ensuring that the intentions of the intentions
of the mission are achieved.
· The market share position has be seen and recognized as the leader.
· The organization has high degree of reputation with customers and the public.
· The overall Size and degree of diversification has become a highly diversified enterprise.
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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---
