An Introduction To Organizational Strategic Management

958 Words4 Pages
According to Weigl, a strategy as the determination of the essential long-term goals and objectives of an organisation, and adoption of courses of action and distribution of resources required for carrying out those goals. He also that it is the plan or pattern that integrates an enterprise 's major policies, actions and goals sequence into a cohesive whole. A well-formulated strategy assists to rationalise and allocate an enterprise 's resources into a viable and unique posture based on its relative internal shortcomings and competencies, anticipated changes in the business environment, and contingent moves by intelligent opponents. He further defines strategic management as a focus on the integration of managerial skills and…show more content…
It motivates the stakeholders to make an extra effort resulting in higher performance (Witcher & Chau, 2010).
 Goals and objectives: these are short-term and medium-term measurable targets. Organisational objectives play a large part in developing organisational policies and determining the allocation of business enterprise resources. Establishment of organisational goals is very important as they not only guide employee efforts and justify business enterprise 's activities but also it defines performance standards and provides constraints for pursuing unnecessary function and goals as behavioural incentives.
 Resource: these are capabilities, assets and skills of the business firm. Strategic resource management provides a strategic framework to support the short-term and long-term enterprise goals and outcomes.
 Business: this is the industry by which an organisation operates.
 Structure: structure defines the way the business firm is divided in distinct unit each system specialising in performing a given task.
 Systems: a collection of formal routine and policies.
 Processes: these are the informal elements of the organisational activities.
Organisational advantages accrue from a harmonious amalgamation of the above essential elements which work together to create the value of the
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