Strategic Management

HAS 320-1401B-02

Phase 3 DB

Strategic Management

Organizations need to make decisions on developing goals and plans to ensure their continuing survival, but may not exactly where to start. Strategic management gives organizations the tools for a starting point. Strategic management is “the set of decisions and actions that result in the formulation and implementation of plans designed to achieve an organization’s objectives” CITATION McGnd l 1033 (McGraw Hill, n. d).Strategic management gives organizations the ability to grow by focusing on goal setting and effective management. Strategic management contains four processes environmental scanning, strategy formulation. Strategy implementation, and control CITATION Hea12 l 1033 (Healey & Marhese, 2012).

Environmental scanning involves assessing the organization’s external and internal environments. Strategy formulation is self-explanatory. This is the process where the strategies go into action. Control, or strategy evaluation, is basically taking the results of the strategy implementation and analyzing them and determine if any fine tuning or adjustments need to be made CITATION Hea12 l 1033 (Healey & Marhese, 2012).

Strategy management involves both long- term and short- term activities and objectives. Organizations are developing short- term goals that will build into the long-term goals. Short- time activities should be prioritized, consistent, and measureable CITATION Cla14 l 1033 (Clark, 2014). Long- term objectives take longer to achieve than short- term activities. Long- term objectives coincide with the vision of the organization CITATION Bia14 l 1033 (Bianca, 2014). Basically the short- term and long- term objectives go hand in hand in the organizing the desire mission.

When organizations are created their hopes are to remain operating for a long time. Organizations need to adapt to changes that constantly occurring, Adapting to changes in society of the organization, environment. Adjustments will need to made to accommodate for these changes by tweaking certain aspects of the organization to make it more efficient and effective. Strategy management gives organizations the opportunity to develop and implement They way to develop and implement short- term and long term objectives that will ensure their success for the future.

References

BIBLIOGRAPHY l 1033 Bianca, A. (2014). Strategic Management With Long and Short Term Objectives. Retrieved from azcentral: http://yourbusiness.azcentral.com/strategic-management-long-short-term-objectives-25629.html

Bradley, J. (2014). Strategic Management With Long and Short Term Objectives. Retrieved from Hearst Newspapers: http://smallbusiness.chron.com/strategic-management-long-short-term-objectives-65334.html

Clark, W. (2014). Strategic Management Short Term Objectives. Retrieved from Demand Media: http://www.ehow.com/info_7974829_strategic-management-short-term-objectives.html

Healey, B., & Marhese, M. (2012). Foundations of Health Care Management Principles and Methods. San Francisco: Wiley.

McGraw Hill. (n. d). Overview of Strategic Management . Retrieved from http://highered.mcgraw-hill.com/sites/dl/free/0078137160/811504/Sample_Chapter.pdf