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Strategic Management Change

Strategic management is the term applied to what has become the most important, difficult and encompassing challenge that confronts any private or public organization: how to lay the foundation for tomorrow>s success while competing to win in today=s marketplace.

Much academic literature has been devoted to Achange,@ and the impact that change has on organizations, and the way change is always complicating and redefining management decisions. To cope with the ever-present change, strategic managers must address three interrelated tasks: Managing strategy in the marketplace; Managing the organization; and Practicing Strategic Management.

Strategy, in this sense, implies analyzing a constant series of choices between tradeoff situations, handling the decision making process by asking questions. For instance, ADo I hire more employees, or give the present ones overtime?@ And, AIf I do give them overtime, will that affect work product?@

The primary guideline for strategic management is to always make sure that the company stays aware of what business the company is really in. This also suggests that the organization must establish clearly defined, yet flexible goals (Chen & Dodd, 1997).

2. Why would an organization attempt to transform itself?

Quite simply, change implies growth, and the lack of change suggests death. The primary causes that may institute a program of change and transformation are these:

* A change in the way the industry does business.

* New technology and marketing channels

* Loss of public appeal for a brand or series of brands.

A few years ago, Cohen (1994) was searching for a way to capsulize the changes in the work force and the work place in and created a conceptual model for dealing with change. Cohen=s model was simplistic and effective, and easy to remember since all key elements of his model begin with the letter AR@.

ARoles,@ARelationships,@ARecords@ AReactions@ and ot...

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Strategic Management Change. (1969, December 31). In LotsofEssays.com. Retrieved 10:13, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1694078.html