Strategic Management Is One Type of Planning, and It Largely

question 39

Essay

Strategic management is one type of planning, and it largely determines which organizations thrive and which ones struggle. It is the decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals. Choose some type of business or specific, real-world organization, and start to develop a strategy for its long-term growth. Write a short essay that summarizes the components of strategic management that the organization needs to use, and provide examples of strategic plans and/or goals at the three organizational levels that would allow the organization to reach its objectives.

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Definitions:

Legitimate Power

A form of authority where power is given based on a person's position or role within a hierarchical structure.

Zone Of Indifference

A range of actions or decisions by authority figures that individuals are willing to accept or comply with without objection.

Shareholder Value

A corporation's commitment to increase the wealth of its stockholders by improving performance, profitability, and share price.

Employee Commitment

Refers to the level of loyalty and dedication an employee feels toward their organization.