Effective Strategic Management

1 Pages 262 Words

Effectiveness is about doing the right things. There is no point in acting efficiently if what you are doing will not have the desired effect. A good strategy will blend both efficiency and effectiveness. Effective strategic management lives in an environment of continuous evaluation of performance, which guides adaptation of the strategy to suit changing circumstances. Effective long-term risk management is a vital part of strategic management. For any business looking for an effective strategic management solution, the options are fairly varied, with a range of solutions that are available. Although strategic management is an emerging management philosophy to support the corporations to change their route according to environmental variations, it is not adequate by itself. It should be supported by a strong information system frame. Success of strategic management has a direct relationship with the managers’ habit of tracing the environment and improvement of employers’ creativity and independent acting abilities. So the information system of a company should be transformed within this direction. To create an effective strategic plan an organization must have a realistic vision that creates a motivating environment. The organization should start by convincing the whole organization of their vision, setting high goals, and creating a system for measuring their progress. In combining these techniques, an organization has a more probable chance of achieving their strategic vision. An organization should set their goals as high as possible without being unrealistic. One factor that must be taken into account is where the company desires to be in the future and how that will benefit the customers, the organization, and the employees....