Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in internal and external environments. It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.
Strategic management can be viewed as bottom-up, top-down, or collaborative. In the bottom-up approach, employees submit proposals to their managers who funnel the best ideas up the ladder. This is often part of a capital budgeting process. Proposals are assessed using financial criteria such as return on investment or cost-benefit analysis. Incorrect estimates of costs and benefits are common errors. Approved proposals implicitly form the substance of the strategy without a strategic design or architect.
The top-down approach is the most common by far. In it, the CEO and the Board of Directors, decides on the overall direction the company should take. The strategy flows down through the organization as each unit adapts to the new approach.
Some organizations employ collaborative techniques that surface new ideas in the process leveraging advances in information technology. It is felt that knowledge management systems should be used to share information and create common goals.
Table of Content
You can enroll for our courses by paying through the following options:
Payment needs to be in favour of "IACT GLOBAL EDUCATION PVT. LTD."
Payment can be made for the appropriate amount depending on which option you decide to take.
* Pricing of some of the programs may vary. Please contact us for more details.
As a new customer of IACT, I have found the course excellent in all aspects. This course suits the requirements of large and small companies. The E-training is simple and easy to understand with an easy to follow set of help instructions and a dedicated team just an email away.
Ravi S - Accenture