Strategic surprisingly, here there is ready agreement. Pdf strategic management model for academic libraries. Strategic management strategic analysis this is all about the analyzing the strength of businesses position and understanding the important external factors that may influence that position. These handbooks were designed to assist department of the navy don executives, commanding officers, total quality leadership tql coordinators, and strategic planning facilitators in leading the strategic management process. Aug 30, 2015 resource management the planning, leadership and control of resources. It is a visual chart with elements describing a firms value proposition, infrastructure, customers, and finances. Special thanks is extended to those who participated in the case studies by sharing the details of their strategies. Developing the strategic management model is important as it provides the basic framework for understanding how strategic management can be. The strategy construct is multifaceted, and it has evolved to a level of complexity almost matching that of. It was found that the resourcebased model is one of the main strategic. Planning involves developing business models, corporate direction, competitive tactics, international strategy, acquisitions, and collaborative action.
It is a visual tool which design to clearly communicate a strategic plan and accomplish highlevel organizational goals. Subsequently, the collected data are analysed and our model is tested. The strategic alliance agreement contains the terms like capital contribution, infrastructure, decision making, sharing of risk and return etc. Models in strategic management introduction decision making is the most important function that is performed by any manager in an organization. Focus of strategic attention types of competitive advantage basic unit of competitive advantage strategy as porter industry business low cost or differentiation activities rivalry resourcebased view corporation resources, capabilities, core competencies core products, strategic architecture real estate architecture delta model extended. Strategic management courses is considered one of the most important courses that you will take during mba postgraduate degree as it integrates other courses, builds on them, and acts as a steppingstone to the real world of business. Strategic management can be thought of in three categories. Vertical integration intensive strategies diversification strategies defensive strategies 1. It may be one kind of new public management npms strategy.
Mba strategic management lecture notes pdf download mba 3rd. The strategic management process consists of three, four, or five steps depending upon how the different stages are labeled and grouped. Strategic management can be defined as a decisionmaking process that leads to the development. Its the foundational basis of the organization and will dictate longterm decisions. Pdf types of planning in strategic management david g. Strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. You use it at the beginning of the planning process. Strategic management theories by richard scroggins capella university, united states. Powerpoint, presentations, business, slides, diagrams, charts, slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Criteria categories, and get a snapshot of your strengths and opportunities for. Strategic management department of higher education. Thompson and strickland strategic management model has developed to solve the drawbacks of porters five forces model of strategic management models. Three models of strategy that are implicit in the literature are describedlinear, adaptive, and interpretive. Business models, business strategy and innovation david j.
Strategy the word strategy has so many meanings itself and all these meanings are useful, important and relevant to the people who. The implementation phase requires leadership to build the appropriate organizational structure, develop management culture, control the strategic processes. Strategic management meaning and important concepts. Jul 07, 2017 strategic planning includes a highlevel overview of the entire business. Strategic management is a broader term than strategy and is a process that includes top managements analysis of the environment in which the organization operates prior to formulat ing a strategy, as well as the plan for implementation and control of the strategy. Strategic management is defined as the process of evaluation, planning, and implementation designed to maintain or improve competitive advantage. The report focuses on three relevant issues regarding. The essentials of strategic management the essentials of strategic management provides us with a short, concise explanation of the most important concepts and techniques in strategic management. The balanced scorecard is a strategy management framework created by drs.
But all of the approaches include the same basic actions in the same order. Strategic planning department of the navy total quality leadership office publication no. Strategic management involves the related concepts of strategic planning and strategic thinking. The following are common types of resource management. The business model canvas is a strategic management template for developing new or documenting existing business models. Under strategic management, the first step to be taken is to identify the objectives of the business concern. Thus, a model of strategic management is a representation of the proposed structure of strategic management in combination of strategies and management activities. Thompson and strickland strategic management model has severed forces and it has developed for analyzing. Wiggins environmental scanning strategy formulation strategy implementation evaluation and control external. Different strategic management models your business. Different strategic management models are chosen by various companies according to.
Strategic management contents 1 introduction 7 2 the basis of strategy. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. The scope of strategic planning can be anywhere from the next two years to the next 10 years. Strategic management, systems thinking, and modeling. It involves creating organizations which generate value even in turbulent environment over a sustained period of time. Developing the strategic management model is important as it provides the basic framework for understanding how strategic management can be operationalised at the firm level. Strategic decision making on the other hand is the main function that is performed by senior management. Contrary to the common one, the strategic decision is being made in a longer time and on a detailed basis. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. The theory and practice of strategy in business organizations s. The methodology adopted in the survey is presented in the next section. Their similarity to hierarchical levels of system complexity is noted. Afterwards, the phenomenography research is described and explained. Strategic management tools and techniques and organizational.
The terms strategic planning framework and strategic framing models are often used interchangeably, but some say they are different. Stages and types of strategy principles of management. Jan 18, 2011 100 strategic management models and diagrams for your powerful business presentations. A strategy map is another strategic management model. Types of strategies in strategic management bizfluent. According to the strategic management model, a number of steps are taken to achieve the objectives of a company. Their input, advice, and lessons learned, both successes and failures, have been incorporated into this document so that we may all apply better strategic management processes in our organizations. Strategy mapping is a main part of the balanced scorecard, although it is one more strategic management model. If we want to mention the types of strategies in strategic management, we can specify it as five types. Pdf the different models of strategic hrm oday alnabhan. Wiggins basic model of strategic management mgmt 4710 professor robert r. These concepts are clearly explained by citing various examples.
Atkinsons 1984 flexible firm model was entitled manpower strategies of flexible organisations and specified three types of flexibility and a diagram illustrating. The decisionmaking process represents an ongoing activity of managers. To manage for the present and continue to change so that the firm continues to prosper, in a. Resource management the planning, leadership and control of resources. Structure, culture, resources missions, objectives, strategies, policies.
The balanced scorecard is a strategic management model. Mutual understanding and trust are the basic tenets of strategic alliances. Strategic planning frameworks and models smartsheet. The different types of strategic management models can be categorized into the following types. Strategic management is the process of decision making and planning which leads to the development of an effective strategy to help achieve organizational objectives. Pdf fundamentals of strategic management second edition. It is a rigorous explanation of many topics and concerns in strategic management. Hence a corporation organized under the basic principles of strategic management will find a smooth sailing due to effective decisionmaking. The managers can use models of decisionmaking in their activity to be more effective. Basic concepts of strategic management professor robert r.
The strategy construct is multifaceted, and it has evolved to a level of complexity almost matching that of organizations themselves. Strategic management process may be simply defined as the process through which a company formulates its business strategy elements in strategic management process. It assists firms in aligning their activities by illustrating potential tradeoffs. Different strategic management models are chosen by various companies according to their conveniences. Strategic management notes pdf, book, paper mba 2020. Strategic change is usually implemented at the organizational level, which may affect the various components of an organization and also the organizational strategy. In strategic management orianahelena negulescu1 abstract. Pdf strategic management model with lens of knowledge.
An evaluation term planning appeared inadequate and firms began to turn their mohammad ahsan ullah anjuman ara khanam abstract a strategic management model is the representation of the structure of strategic management in combination of strategies and management activities. Teece whenever a business enterprise is established, it either explicitly or implicitly employs a particular business model that describes the design or architecture of the value creation, delivery, and capture mechanisms it employs. Vision, mission, business model and strategic plan. Strategic decision making models the best and most effective strategic decision model may vary based on the organization situation, managers personality, and some other factors. For people and their organizations it is not much different, since strategy also regards the. Below are 16 of the most popular and effective strategic planning models out there. In this process, the strategists determine objectives and make strategic decisions. Strategic management model refers to the pattern or mode of strategic management.
Zahn, encyclopedia of life support systems eolss different. They have some specific mission towards which all efforts are directed. The theory and practice of strategy in business organizations. The process of strategic analysis can be assisted by a number of tools. Basic strategic planning model alignment strategic planning model goalbased or issuebased strategic planning model selforganizing or organic strategic planning model scenario strategic planning model. Human resource function has evolved as a strategic business partner from its traditional passive transaction processing role.
The balanced scorecard is a strategy management framework created by. Additionally, the secondary goal is to evaluate the implications for strategic information technology management. Ii strategic management, systems thinking, and modeling e. It is a broad category of management as opposed to a discipline in itself. The main objective of the study is to assess the strategic management models in the light of different strategies, strategic. In the course of making decisions managers are assisted by number of strategic management models that can. Jofre foreword the present report is the result of an ongoing study on the patterns and trends on both the theory and practice in the field of strategic management. Whereas strategic thinking is a process of discovering insights, strategic.
A strategic alliance integrates the synergetic talents of alliance partners. Important components of a strategic plan are vision, mission and values. Mba strategic management lecture notes pdf download mba. Its characteristics, formulation, types and other details. They are all rooted in an understanding that people, processes, and technology are all integral to the longterm success of a business or organization.