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Strategic Management

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Md Sheikh Shohan

Strategic management involves establishing objectives, defining the company's mission, formulating strategies, implementing plans, and evaluating performance. It has five components and follows a process of environmental scanning, strategy formulation, implementation, and evaluation. In a knowledge-based economy, strategic management is important because it increases employee alertness, efficiency, and motivation; reduces costs; and helps companies adapt to changes.

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Md. Sheikh Shohan Sec: A ID: 16221063 Finance & Banking Manage ment Final Presentat ion
The Importance of the Strategic Management Process in the Knowledge-Based Economy. Outlin e Definition of strategic management Strategic management process Five basic components of strategic management Its importance in knowledge based economy
What is Strategic Management? Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which
Five basic components of strategic management It is usually considered that strategic management has five critical components : Establishing strategic objectives and performance targets. Defining the business and establishing a strategic mission Formulating a strategy to achieve the strategic objectives and targeted results. Implementing and executing the chosen strategic plan Evaluating the performance and reforming the strategic plan.
Strategic management process Strategy Formulation Strategy Implementatio n Strategy Evaluation Environmenta l Scanning
Environmentalscanning Environmental scanning refers to possession and utilization of information about occasions, patterns, trends, and relationships within an organizations internal and external environment. It helps the managers to decide the future path of the organization. Internal analysis of the environment is the first step of environment scanning.
Formulation Strategy Steps Setting Organizations objectives Evaluating the Organizational Environment Setting Quantitative Targets Aiming in context with the divisional plans Performance Analysis Choice of Strategy
Implementation of strategy 1. Align your initiatives & Align budgets and performance 3. Engaging Staff 2. Structure follows strategy 4. Monitor and Adapt
Strategy Evaluati on Fixing benchmark of performance Measurement of performance Analyzing Variance Taking Corrective Action
Importance of Strategic management in knowledge based economy Alertness in employees. Increase the efficiency of the employees. Increase the profitability and productivity. Motivation to group activity Reduction in cost capital. Reduction in fixed and flexible expense. Acceptance in organizational change. Increase in trading on equity.
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Strategic Management

  • 1. Md. Sheikh Shohan Sec: A ID: 16221063 Finance & Banking Manage ment Final Presentat ion
  • 2. The Importance of the Strategic Management Process in the Knowledge-Based Economy. Outlin e Definition of strategic management Strategic management process Five basic components of strategic management Its importance in knowledge based economy
  • 3. What is Strategic Management? Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which
  • 4. Five basic components of strategic management It is usually considered that strategic management has five critical components : Establishing strategic objectives and performance targets. Defining the business and establishing a strategic mission Formulating a strategy to achieve the strategic objectives and targeted results. Implementing and executing the chosen strategic plan Evaluating the performance and reforming the strategic plan.
  • 6. Environmentalscanning Environmental scanning refers to possession and utilization of information about occasions, patterns, trends, and relationships within an organizations internal and external environment. It helps the managers to decide the future path of the organization. Internal analysis of the environment is the first step of environment scanning.
  • 7. Formulation Strategy Steps Setting Organizations objectives Evaluating the Organizational Environment Setting Quantitative Targets Aiming in context with the divisional plans Performance Analysis Choice of Strategy
  • 8. Implementation of strategy 1. Align your initiatives & Align budgets and performance 3. Engaging Staff 2. Structure follows strategy 4. Monitor and Adapt
  • 9. Strategy Evaluati on Fixing benchmark of performance Measurement of performance Analyzing Variance Taking Corrective Action
  • 10. Importance of Strategic management in knowledge based economy Alertness in employees. Increase the efficiency of the employees. Increase the profitability and productivity. Motivation to group activity Reduction in cost capital. Reduction in fixed and flexible expense. Acceptance in organizational change. Increase in trading on equity.