This is a process of analyzing, planning or action that attempts to keep a firm aligned with its environment while capitalizing on organization’s strength and opportunities, and minimalizing or avoiding organizational weaknesses and external threats (competition, labour union, got regulations etc). A meaningful policy must have some operational strategies that will translate such policy into courses of action.

Going by Gluack (1984), he sees strategy as “a unified, comprehensive and integrated plan relating strategic advantages of the firm challenges of the environment. It is designed to ensure that the basis objectives of the enterprise are achieved.

THE PROCESS OF STRATEGY MANAGEMENT

Having considered what strategy is, we can now ponder profitably on the various components of the strategic management. These include:

1. Identification or formulation of the strategy

2. The implementation of a strategy

3. The evaluation of the strategy.

These three components constitute the most important elements of management strategic job.
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The long term goal of the Strategic Business Management Programme is to contribute to revitalization and changes for the better in each participant's business. This in turn will contribute to decisive and lasting change at a national level, improving the business climate and stimulating sustainable economic growth. Strategic Business Management is for business leader.


Defining Goals and Objectives of a Company or Organization

You can use a number of different methods and approaches to define corporate goals and objectives, using formal and informal procedures. Doing this can provide the organization with a definition of its goals and objectives that represent its current thinking. These goals and objectives can then be integrated into the decision-making process so that decisions made with the decision model are structured to impact all levels of the organization and are quantifiable and defensible.


Ever since Milton Friedman famously proclaimed “The Social Responsibility of Business is to Increase its Profits” (NYTimes 1970), pundits have pondered whether his purist interpretation was really the only way.

Profit is certainly a lot easier to quantify than something like ‘happiness’, but the intangible benefits of good, honest business clearly go way beyond pure finance….Must the word ‘profit’ always refer to money in the strictest sense?

Collected on this page are various interpretations of the idea of “social responsibility” and the responsibility of business to take an active, passive or indifferent role in building a more sustainable world.



The Concept Of Management By Objectives (MBO)

The concept of MBO is closely connected with the concept of planning. The process of planning implies the existence of objectives and is used as a tool/technique for achieving the objectives. Modern managements are rightly described as 'Management by Objectives' (MBO). This MBO concept was popularized by Peter Drucker. It suggests that objectives should not be imposed on subordinates but should be decided collectively by a concerned with the management. This gives popular support to them and the achievement of such objectives becomes easy and quick.

BASIC CONCEPTS IN STRATEGIC MANAGEMENT Functions of Objectives 1. Setting of objectives legitimizes the existence of a busines$s 2. Objectives provide 9guidelines for action, directing and channeling organisational efforts. 3. It seves as constraints that limit excesses. 

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