Filipino Style – Learning Strategic Management

Posted by admin on August 13th, 2010

Strategic management involves industry analysis and organized analysis which is important in all types of organizations specially in small business, franchise business and other industries. Studying Strategic management will also equip the Pinoy entrepreneur with tools that enable him or her to deal with important issues in a complex business environment.

A simple definition of what strategic management is a process by which someone analyze and learn from their internal and external environments and established strategic direction, create strategies which are intended to achieve goals.

Careful planning will ensure business success even in the most volatile economies. This is a perfect example of an internal environmental factor.

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New Thinking For a Crisis Economy – Strategic Management

Posted by admin on August 13th, 2010

C.K. Prahalad’s death last month has inspired a plethora of literature on the strategic thinking of the man who coined the concepts of “strategic intent” and “core competence.” Strategic management – the process of getting from the current state to the future state that ensures competitive advantage – has never been more relevant. In a hypercompetitive global market, more companies are feeling the effects of Prahalad’s “strategic decay” – the idea that strategy starts to decay the moment it is created. Strategic management can help managers think smarter and act faster.

Organizations that used strategic planning during the economic crisis were more successful in their pursuit of growth opportunities and more confident about short-term growth prospects, according to a 2009 study of 190 US firms sponsored by the Association of Strategic Planning. As a brief review of the current research shows, strategic management is rising to the challenge in a time of economic uncertainty.

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Implementing an Effective Strategic Management Process – Get All Stages of the Process Working

Posted by admin on August 13th, 2010

Businesses could perform better by managing more strategically. The emphasis here, when discussing strategy, should be on managing, and not just on planning. Many companies limit their strategic thinking to their planning cycle. Strategic planning is certainly important, but it is only one part of an overall strategic management process. An effective strategic management process just simply leads to sustained growth and profitability. The purpose of this brief article is to explore one of the key success factors that can make a real difference in performance when implementing a strategic management process. That is, a company will be more successful if it gets all stages of the process working, even if imperfectly.

The structure of a strategic management process can be described as having four major stages:

  • Definition Stage, which culminates in a defined market strategy.
  • Translation Stage, which deals with business philosophy.
  • Building Stage, which has the goal of designing effective performance measurement.
  • Operating Stage, which sets up an environment for continuous improvement.
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