However, digital information is fragile in ways that differ from traditional technologies, such as paper or microfilm. It is more easily corrupted or altered without recognition. Digital storage media have shorter life spans, and digital information requires access technologies that are changing at an ever-increasing pace.
Company Overview The Concept of Strategic Management Strategic management can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enables any organisation to attain its objectives.
The term strategic management is also used synonymously with strategic planning David, Strategic management is guiding an organisation relative to challenges and opportunities appearing in the contingent environment.
This environment is composed of those external elements that most directly affect organisational goal achievement and new goal development. Thus, organisation system design and management should complement strategic actions taken for productive subsystems, as well as those providing output delivery and other support functions for the organisation.
To the extent possible, the organisation bases its actions on strategic planning that, rather than a one-time effort, is an ongoing process of adaptation of original conceptions of mission, goals, structure, roles, and so forth relative to environmental dynamics Siegel, Furthermore, due to the existence of competitions within and outside the marketing arena, it is therefore very significant for a company to establish strategic management and set a strategic plan for its development and improvement.
It is for the reason that the twenty-first-century realities of globalisation, rapid changes in technology, increasing competition, a changing workforce, changing market and economic conditions, and developing resource shortages all increase the complexity of modern management.
Whereas strategic planning was a competitive advantage in the past decade, it is a necessity of global thinking in this century.
Planning strategically is certainly a new requirement in the global business world. In order to survive the new business challenge, global thinking and practice must permeate all corporate activities. Successful companies are, of course, the first to consider the global marketplace as their arena for competition.
According to Davidstrategic management has become a vital part of most, if not all, organisations. Potential Benefits and Limitations of Strategic Management Strategic management can contribute significantly to organisational performance; however, its practice can have limitations.
The statement means that although strategic management can consider as one of the most effective strategy to attain business goals and to gain an efficient organisational performances and functions, its practice can also have restrictions and limitations because of different factors that might affects the overall implementation of strategic management within a company.
As mentioned, the whole concept of strategic management encompasses potential benefits and limitations.
One of the potential benefits of strategic management is it make sure that the organisation only follows one direction or path and that is towards the achievement of its business mission, objectives and success.
Through the used of strategic planning as part of the strategic management concept, the company will be able to determine the best approach to be used in order to efficiently attain the said goals.
In addition, strategic management is also beneficial in ensuring not only the success of an organisation but also its survival by adapting the whole organisation to changes in its environment and making sure that the organisation remains competitive Drejer, One of the advantages of strategic management is it enables a firm to proficiently identify how a certain organisation should deploy its resources in the environment and adapts the organisation to satisfy the long-term objectives of the firm.
It is important to note that strategic management deals with several time spans. The organisation needs to be more than just competitive here-and-now. The competition for industry leadership is just as crucial to firms as is the competition for developing the right competencies in the right time.
Thus, strategic management is also about integrating time horizons and activities related to all three kinds of competition. Although strategic management encompasses many advantages and benefits for the organisation, strategic management has also some restrictions or limitations.
One of the limitations of strategic management is it may not function well enough for the organisation without having a good and effective leader to initiate such approach. It is known that strategic management is a concept of determining and executing the most effective business approach, however, if the leader of such company do not have what it takes for implementing effectively the strategic plan formulated, then strategic management will not be successful as expected.
Strategic management is a process used in an organisation so as to develop essential goals and resources. It is a combination of impure, mixed and interactive process loaded with difficulty, both politically and intellectually.
|Case Reports in Cardiology||Information Technology and Administrative Management Description With this specialization, you will become a qualified business professional prepared to pursue careers that apply a blend of management, administrative and information technology skills in contemporary business environments. The administrative manager supervises office employees, designs office work systems, maintains internal and external communication systems, and compiles meaningful reports from information processing.|
Strategic management and human resource are very much related to each other. Through the combined efforts of these two practices, several improvements can be attained, however, without an effective human resources, implementation of strategic management will not be possible Boxall and Purcell, It is important note, that in order to gain success through strategic management, the company must be strategic from the very beginning up to the last.
Generic Strategies Successful strategy requires the firm to choose the markets in which its distinctive capabilities yield competitive advantage. But the adaptive, incremental nature of strategy means that the starting-point is where the firm is now.
Strategy is the direction and scope of an organisation over the long term: The strategy answers both the questions "where do you want to go? The traditional approach basically focused on the first question but the traditional approach gives equal importance to both of them.
While developing a corporate strategy for the any profit organisation, the management have to keep in mind the demand of the customers and the marketability of the products and services offered. These generic strategies are used by different organisation because of the potentialities that the management have seen with these strategy and the benefits it may provide.
However, if the company should not strongly commit themselves with these strategies, like what Southwest Airlines and British Airways have done, then, instead of achieving competitive advantage within the marketplace, the industry might be at risk of falling.
These generic strategies are guiding an organisation relative to challenges and opportunities appearing in the contingent environment. To the extent possible, the organisation bases its actions on strategic planning that, rather than a one-time effort, is an ongoing process of adaptation of original conceptions of mission, goals, structure, roles, and so forth relative to environmental dynamics.9 CHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES This chapter presents the related literature and studies after the thorough and in-depth search done by the researchers.
Related Literature And Studies On Employee Information System. CHAPTER II REVIEW OF RELATED LITERATURE AND STUDIES Every piece of ongoing research needs to be connected with the work already done to attain an overall relevance and purposes.
The review of literature thus becomes a link between the research proposed and the studies already done. I. REVIEW OF RELATED LITERATURE .
Strategic management is guiding an organisation relative to challenges and opportunities appearing in the contingent environment. This environment is composed of those external elements that most directly affect organisational goal achievement and new goal development.
8.Q. What is the relationship between Federal equal employment opportunity law, embodied in these Guidelines, and State and Local government merit system laws or regulations requiring rank ordering of candidates and selection from a limited number of the top candidates? Institute for Employment Studies 1 1 Introduction This paper reviews the literature on performance management and appraisals to see where there may be useful learning for organisations.
The study delimits itself on the design of system prior to the submission of reports needed thereof as well as the systems needed by other offices that utilize the summarized information regarding employee attendance.