Strategic Management

Strategic Management

2008 Strategic Management

Introduction

Many companies that experience the downfall in foreign market is then wondering what the cause is . In this situation , Stacey suggests many failed companies had better manage their risk with an extra touch of integrity and a carefully considered risk plan (2001

Strategic management can be simply defined as activities of formulating implementing and evaluating economic decisions that will enable an organization to achieve its objectives . The definition nevertheless , is representation of a concept that has developed into its own science Today , it

contains countless theories regarding various approaches perspectives and styles to deal with challenges and opportunities , so organizations can achieve their goals at the end . An organization who learns about strategic management and wish to apply it can actually choose one or several perspectives from the abundant perspectives within the strategic management science which suited the organization the most .Concerning the issue , this will evaluate the critical report about Qatar National Bank strategic management . In this , I am observing a single economic entity or an organization , to discover the strategic perspectives it uses to build its economic presence . As an addition this will also provide a short strategic comment to argue about how the company should proceed in the future . The organization in observation is the Qatar National Bank . Prior to the discussion , this will elaborate the definition of strategic management

Strategic Management

By definition , strategic management shows the ability of an organization to provide overall direction to the whole enterprise . It involves matching several elements such as strategic advantages by using the company 's resources , circumstances , and objectives in to carry out its mission effectively and efficiently . For example , a company may have following strategic management

Allocating resources (financial , personnel , time , computer system support ) to strengthen the company 's presence in respective industry

Setting up superior chain of command that smoothes the operation of the company

Strategic Management is a vast field of study . It contains numerous concepts which contain various sub-concepts . Despite the endless field of study , there is a core purpose of the strategic management concept This purpose is -arguably- to define the competitive advantage of a business and take advantage of them in developing the company

Discovering the competitive advantage of a business might not be an easy task , thus explaining the complexity of strategic management itself . It contains various analyses that lead to the reduction of every situation into corporate strengths and weaknesses . Afterwards , taking advantage of the discovered competitive advantage to enhance the company might also not as easy as it sound . It includes expanding the competitive advantage into a series of strategies and plans and monitors them as they are implemented in the targeted environment

Sometimes , in the process of defining the alternatives of strategies , we discover the need to alter some portion of the competitive advantage itself . This is due to the nature of competitive strategy which has an inseparable connection with the environment in which a company exists...