BNET Business Dictionary
Business Definition for: Strategic Management
- the development of corporate strategy, and the management of an organization according to that strategy. Strategic management focuses on achieving and maintaining a strong competitive advantage. It involves the application of corporate strategy to all aspects of the organization, and especially to decision making. As a discipline, strategic management developed in the 1970s, but it has evolved in response to changes in organization structure and corporate culture. With greater empowerment, strategy has become the concern not just of directors but also of employees at all levels of the organization.
Additional Resources
- The Nature Of Strategic Management
- For an organization to be successful, it is very important to chalk out a sound strategic system. Strategic management helps in the formulation of effective organizational goals. The effective formulation and implementation of strategic management techniques can lead an organization to the path of success. The pitfalls in the strategic...
- Presentations 2003-01-01
- Strategic Management and Monitoring
- ASVP Consulting, a Melbourne-based strategic consulting firm, recently completed a case study on the implementation of a Strategic Management & Monitoring Solution at a Water Utility Company in Australia. The critical issue to be solved was inconsistent data flow, handling and integrity from data capture to point of incorporation...
- Case studies 2004-10-18
- Examining Opportunities for Improving Public Sector Governance Through Better Strategic Management
- Following years of management reform, strategic management has recently become an imperative in public sector. This paper presents research on the application of the balanced scorecard and associated management processes for strategic control purposes in a public sector environment. It shows how an improved balanced scorecard design has the potential...
- White papers 2002-05-01
- Strategic Management Meets Knowledge Management: A Literature Review And Theoretical Framework
- In many organisations, proponents of knowledge management struggle to gain its acceptance by senior management. The rhetorical question 'Is knowledge management tasked with: managing the knowledge that an organisation has; or managing the knowledge that an organisation needs?' is posed to knowledge management practitioners. The answer to the question lies...
- White papers 2004-10-14
- Strategic Management: Foundation Concepts
- Strategic management involves analysis of the firm's external and internal environments towards making strategic decisions and drawing out comprehensive action-plan for achieving long-term organizational goals. The strategic management framework is based on the firm's vision and mission. Vision and mission also help in the formulation of long-term organizational goals. The...
- Presentations 2003-01-01
- Decision-Making Planning & Strategic Management
- Strategic planning helps an organization to stay afloat in the market despite competition. It facilitates in making strategic moves in order to sustain competitive advantage in the market. There are three organizational levels at which strategic planning is operational. They are corporate level, business level, and functional level. Strategic management...
- Presentations 2003-01-01
- Labor Department Achieves Highest Rating for Strategic Management of Human Capital
- WASHINGTON, May 19 /U.S. Newswire/ -- The U.S. Department of Labor DOL recently achieved the highest rating for the Strategic Management of Human Capital component of the President's Management Agenda. The Office of Management and Budget OMB raised tWASHINGTON, May 19 /U.S. Newswire/ -- The U.S. Department of Labor...
- Research articles 2004-05-19
- International Strategic Management
- Strategic management involves identifying and comprehending the changing environmental factors and planning accordingly. When an organization operates on an international level, the strategic management initiative assumes great significance. International operations require special types of structures to be institutionalized in the organization. These structures facilitate international strategic management. The paper examines...
- Presentations 2003-01-01
- Strategic Management
- Strategic management is the process of operationalization of the firm's strategy. It entails obtaining a fit between organizational strategy, structure, and environment. The strategic management process entails assessing the firm's position vis-à-vis the competition. The organization does a competitor analysis to gauge its standing amongst the competition. This also facilitates...
- Presentations 2003-01-01
- Strategic Management Framework
- Strategic management is the process of making critical decisions and executing other activities and tasks towards implementation of the organizational strategy. The strategic management process consists of a number of steps that include developing the organizational vision and mission, performing the situational analysis and accordingly designing the corporate strategy, and...
- Presentations 2003-01-01
- Strategic Management
- Strategic management is the process that involves planning and operationalizing the strategy of an organization. The involvement of teams in the strategic management process greatly facilitates its successful implementation. The paper examines issues involved in the strategic management process. In this context, the dynamics of teams is also discussed. ...
- Presentations 2003-01-01
- Strategic Management and Management by Objectives
- No clear understanding of Management by Objectives in relation to Strategic Management has emerged in the literature. This paper attempts to point out the complexities surrounding Management by Objectives, and how the evolution of Strategic Management as a group process supersedes MBO as a system of planning, implementation, obtaining feedback,...
- White papers 2004-05-14
- Strategic Management
- Strategy of an organization is the roadmap consisting of competitive moves and other activities towards accomplishment of long-term organizational goals. The strategic management process gives a definite direction to the corporate strategy of an organization. It consists of different tasks that include developing a strategic vision and mission for the...
- Presentations 2003-01-01
- Strategic Benchmarking of Intellectual Capital (SBIC): An Intellectual Capital Strategic Management Methodology and Strategic Information System
- In accordance with the resource-based view and the activity-based view, sustainable competitive advantages are mainly due to core knowledge that, together with tangible and especially intangible resources, develops competitive products and services through the appropriate activities and processes of the value chain. Strategic Benchmarking of Intellectual Capital SBIC is a...
- White papers 2004-06-30
- Labor Department Receives President's Quality Awards for Strategic Management of Human Capital and Budget and Performance
- WASHINGTON, Dec. 21 /U.S. Newswire/ -- The Department of Labor recently received two 2004 Presidential Awards for Management Excellence -- one for DOL's Strategic Management of Human Capital and one for Budget and Performance Integration. The President'sWASHINGTON, Dec. 21 /U.S. Newswire/ -- The Department of Labor recently received two...
- Research articles 2004-12-21
- Strategic Management
- Strategic management is the process by which an association assesses its strengths and weaknesses, identifies present and future member needs, and empowers volunteers and staff to provide excellent products and services that respond to those needs. It has four steps: strategic thinking, strategic planning, strategic implementation, evaluation, and feedback. All...
- White papers 2003-01-01
- Transforming The Balanced Scorecard From Performance Measurement To Strategic Management
- For effective management of a work process, it is imperative to measure it. Measurement provides an insight into the dynamics of the process and, therefore, facilitates the management of the same. The Balanced Scorecard BS is a comprehensive framework that translates the organizational vision and strategy into a coherent set...
- White papers 2001-03-04
- The Development of the Balanced Scorecard as a Strategic Management Tool
- The balanced scorecard is a widely adopted performance management framework first described in the early 1990s. More recently it has been proposed as the basis for a strategic management system. This paper describes its evolution, recognizing three distinct generations of balanced scorecard design. The paper relates the empirically driven developments...
- White papers 2004-01-29
- Strategic Knowledge Benchmarking System (SKBS): A Knowledge-Based Strategic Management Information Systems for Firms
- In accordance with the resource-based view and the activity-based view, sustainable competitive advantages are mainly due to core knowledge that, together with tangible and especially intangible resources, develops competitive products and services through the appropriate activities and processes of the value chain. Strategic knowledge benchmarking system SKBS is a knowledge-based...
- White papers 2005-01-01
- Starwood Hotels & Resorts Worldwide partnered with eCornell to deliver online courses in hospitality management, management skills, strategic management and human-resource management to its employees
- * Starwood Hotels & Resorts Worldwide partnered with eCornell to deliver online courses in hospitality management, management skills, strategic management and human-resource management to its employees. The four-year agreement makes the courses available to employees of Starwood's more than 740 properties. The courses are offered by Cornell University.
- Research articles 2004-10-04
