Strategic Management Aspects Of Operations Management Essay

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

The relationship between strategic management and operations management: significantly Operational goals and strategic goals are dissimilar, it is vital to be familiar with that strategic management and low-level management are closely interconnected. Corporation cannot achieve their planned goals if it fails to successfully transform it into practical operational goals. simultaneously, if operational goals are not planned to influence the success of planned goals then it will lack unity with each other and with the whole structure. Meanwhile, operational goals are a day to day tasks. Once a day to day task is achieved then long term goals will be automatically achieved. For achievement of goals, operational management must be loyal, motivated, trained, and hardworking, since their involvement is most important. D) Produce system diagram that shows the business manages their operation effectively.

Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.

The many factors of strategic management are implemented in every form. That is the separation between a business/organization and just an idea. The strategy of developing methods based on data, implementing the methods and then reconstructing the strategy as you see the uncover opportunities for improvement. Strategic management is a relevant to every organization or company that has a goal to be effective and progressive in their

A SWOT analysis is a distinguished instrument for examination of a company’s strategic situation and environment. Its objective is to recognize the schemes that will best support a business’ assets and competencies to the desires of the market. It is the basis for assessing the core abilities and restrictions and the prospects and dangers from the external environment. SWOT stands for: strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are deemed internal influences where there is some level of control; while opportunities and threats are deemed external influences where there is essentially no control.

Percy and Giles (1989), stresses that the SWOT analysis is the most applied tool for strategic planning. The SWOT analysis is an approach that is structured and straightforward in evaluating and identifying strategic positioning, strengths, and weakness and making comparisons to opportunities and threats (p. 5). Percy and

The internal analysis of a company is an examination of where value is added in the business process and the strategies used to attain a sustainable competitive advantage. The internal analysis can be broken down into two key areas:

The SWOT analysis provides information that is helpful in matching the firm’s resources and capabilities to the completive environment in which it operates. As such, it is instrumental in strategy formulation and selection. The followings are show how a SWOT analysis fits into an environmental scan.

Therefore, strategic management is an all-encompassing approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.

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.

“Strategic management is the comprehensive collection of ongoing activities and processes that organizations use to systematically coordinate and align resources and actions with mission, vision and strategy throughout an organization” (Strategic management, n.d)

The SWOT analysis is an important method for developing a company’s strategy based on the identified and studied company strengths, weaknesses, opportunities, and threats. The analysis provide the business leaders with a perspective of what the business does bets and where the company has the greatest potential expand. Additionally, the analysis can be used to analyze a given business issue and find a lasting solution to the issue.

‘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

1.2 Strategic management is a way of formulating, implementing and evaluating, cross – functional decisions that enable an organisation to achieve its objective. It ensures that employees and other stakeholders are working towards common goals, establishes agreement around intended outcomes/results, and assesses and adjusts the organization 's direction in response to a changing environment. The purpose of strategic management is to exploit and create new opportunities, to foresee business value in the future, to eliminate the possible risks in the environment, and to look for the changing market trends.

Operational management processes in a firm involves overseeing, formulating and reformulation of the operations of a business. The processes are meant to ensure efficiency in administering resources whilst ensuring there is effective management of client’s specifications and or directions. This is achieved by adding value to the firm’s processes. Such achievements are experienced when a firm embarks in directing its physical and or technical functions towards enhancing its development, production and manufacturing. These should be pre-determined and controlled by market opportunities if a company is to reach its ultimate production levels. Their realisation adds up to ensuring the future of a firm, offering operational