CHAPTER 1: NATURE OF STRATEGIC MANAGEMENT

Strategic management is the art of formulating, implementing and evaluating according to the decisions making to achieve the organization goals. Strategic management focus on business while strategic planning focus more on formulation. Besides that, strategic plan is the good alternatives choices from the tough managerial to improve the organization.

There are three stages of strategic management. Firstly, formulation strategy that identifies the strengths and weaknesses of an organization to develop their vision and mission. Secondly, implementation strategy or call the action stage when the organization use the formulate strategies resources to be execute. Lastly, evaluation strategy needs an organization to take corrective on their actions to be more successful.

Other than that, it is important to the organization to know about the opportunities and threats on their business area. It is can make easier to the organization to create and manage their strategies, skills and marketing process to survive on the market and develop business to the overseas. Although, the important part in the organization is a communication skill between a manager, employees and customers to know each other needs and responsibility. The manager must know about employee skills or try to solve their problem on the organization. Furthermore, the manager also can take a good idea from the employees and then make some additional changes to be one of the organization strategy. In addition, the successful organization will be done when the customer seek their needs. That’s all….hee.