Balance Scorecard of David's Strategic Modelling at Industrial Business for National Construction Contractor of Indonesiabsc

Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually

"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are

In project management, contract almost related with every level of project, such as material buying, price negotiation, customer service and payments. Supplier is another important role in project management. If contractor could give a appropriate contact to supplier, it will helps on build stable relationship, with supplier, even more, it could bargain with price of materials. However, if contract not finish at each single phases of project, it will increase negotiation time, which means definitely time delay and cost overruns. With decent contract management of project, it will simply to avoid such fundamental problems. Another explanation for contract error is worker. Human resource is also important for basic project proceeding, and it has been included in contract management as well. Similarly, all potential possibilities need considered by manager. “careful consideration need to be finished when forming the initial contract, for about what might occur during its operation, this will guarantee that things are included in the contract documents that enable effective contract management”(OGC 2010)

In construction projects, mostly the firms (in this case the firms become client) do not have the skills or develop skills inside the firms to undertake the projects due to amount of the projects should be conducted or the complexity of the projects (Reve and Levitt, 1984). Therefore, the economic decision to conduct the projects is to procure them to third parties. However, more commonly the client agonize the final quality of the projects will meet standard requirements. Thus, impacts to involvement of complex contracts of construction procurement.

Strategic planning involves making decisions about the organization’s long-term goals and strategies and how the organization decides to implement their goals (Bateman, Snell, Konopaske, pg. 113). Strategies help organizations to have a clear perspective on how to go about accomplishing the goals they have in place. All organizations have a clear vision of what their mission and purpose as a company is, they know how to fulfill the mission, vision, and purpose and they know how to ensure that they accomplish all their goals. However, the route the organization takes to define these things determines how effective they will be.

What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness

The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.

A three rounds Modified-Delphi interview was ere conducted with 15 Chinese construction industry?s experts; , the iterations of the Delphi exercise allowed the experts to modify the weighting of the KCIs and predict them beyond their own subjective opinions; which facilitated to establishthe establishment of an Analytical Hierarchy Process (AHP) model with the KCIs that may can improve Chinese construction firms? international competitiveness in the oversea markets.

In the business world, strategy is probably the most often used and the most often confused term. The article ‘Why Business Models Matter’ clarifies and elaborates on crucial element of any organization. The Author, who also wrote, ‘What Management is’ asserts that the business model and strategy is the basis of any organization whether it be profit or non-profit. Magretta shows the outlines of business model and strategy. To make a big success in business, the first step is making a business model, when making a new business model, managers must think about all possible outcomes. She goes on further in the article to give examples successful organizations and their use of strategies to compete within the industry.

There is no exact definition for Strategy because it is defined in different ways as some people think that make a plan to get success in future is a strategy while others think that future is hard to predict. Exceptionally, some Japanese companies have no strategies though these companies have a good cost and continuous improvement. The definition for strategy is to explain the direction and scope of any company for the long term to achieve advantage for the company or to fulfill the needs and expectations. Strategy is different from Operational effectiveness and they work in different manner in the companies. Michael Porter, who is a professor at Harvard Business School and a strategy expert, says that it should determine how organizational resources and skills should create advantage. Accordingly, Strategy can also be defined as an organizational change during actions in the organizations for better and advantageous results or to determine how we win and get success in the future period. It is a needful developed plan with respect to market to compete the world. Organizations should be responsible for competitive changes according to the market. It is the main goal for any Organizations. Business/IT strategy is very important to know the success rate of your business. Apart from Business Strategy, the other two main types of strategy are Corporate Strategy and Team Strategy. These strategies give competitive advantage of cost leadership, differentiation and focus. The

‘Strategic Management’ is a very complex term as many eminent researchers and scholars have had different views and conclusions on strategy. According to White (2004), “Strategic Management involves both systematically developing an idea together with its implications and testing the empirical validity & usefulness of that idea against the real world.” Thus strategy is not only about planning for future but also about confirming the validity of the hypothesis considered and implementing it successfully. Strategy formation may take various forms such as implicit, explicit or emergent. Implicit strategy is a strategy formed by intuitions of an individual. As per implicit strategists, strategic management is about reading the environment

Each organization requires different strategic planning, as there is no single strategic planning model that suits all organizations. Every organization has to develop model of strategic planning according to its own development, its nature of business and as per their own planning process. These models provide an extent of options on the basis of which different organizations might be able to select an approach and initiate to grow their own strategic planning process. Any organization might select to combine the models suitable to their planning process, for example, they can use a Basic model to recognize strategic issues and aims, and then they can select an issues-based model to develop approach to initiate the issues and grasp the

** Asst .Prof ., Department of Civil Engineering, RKDF Institute of Science & Technology , Bhopal

Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA in 1970, to help corporations with analyzing their business units or product lines. This help the company allocate resources and is used as an analytical tool in brand marketing, product

Strategic planning is central to management study. It defines the long term direction for the company and all other business functions orbit around their established strategies. This article studies how a company formulates business-level strategies, optimize their competitive positioning and obtain a competitive advantage over their rivals.