Strategic management

STRATEGIC MANAGEMENT

Running Head : Strategic Management

STRATEGIC MANAGEMENT

In APA Style

2007

Strategic Management

Introduction

Strategy is a wide of discussion . The word `strategy ' comes about centuries ago , but the discussions of its meaning and roles are still significant today . Modern strategists have realized that the meaning and the core essence of strategy will develop without boundaries . Strategies will evolve along with people and its environment . Within this , I will address several issues that will create stronger understanding toward the word and its modern context

Furthermore

, in to provide clearer sense toward how these strategic thinking developments are implemented throughout the modern world , I will discuss the practice of strategy and strategic thinking within a specific area of discussion . The chosen area of discussion is the housing management sector Definition of Strategy

When common people are asked to define strategy by using merely their healthy logics , the answer would be somewhat close to this statement `Strategy is a way to identify problems , listing possible solutions and finding the best course of action to solve the problems . This is actually not far from the actual essence of strategy itself (Hints 2001

However , strategy is no merely means of solving problems . Philosophers often mentioned that strategy is a `method of thought , by which they mean that strategy has a strong sense of relativity within it . Different people define strategy in different ways and most of them usually have strong logical reasons to support the definition

In short , there is actually no universal definition of strategy Instead , there are various `styles ' of strategic thinking which produce various types of definition of strategy . However , we must not fall into thinking that strategy is an undisciplined being . Instead , strategy has the character of having strong discipline and purposive thought although somewhat less than scientific . To ease our study , it is better to assume that the general definition of strategy mentioned above is right

In technical terms , strategy is the activity to : define corporate objectives , strive to achieve that objectives , defining the resources required , identifying existing obstacles , identifying existing internal and external risks , managing identified risks , identifying alternatives of solutions , choosing the best solution and implementing it properly (Cole , 1997

Contents and Character of Strategy

III .1 . Strategic Approaches

As mentioned , strategy can be viewed through various approaches . The existence of strategy could start from `the bottom ' of the organizational structure , in example , employees and lower-level supervisors . In this `bottom-up ' approach , strategies are the result of collaboration of various ideas . The liquid nature of corporate human resource management system allowed ideas to be distributed to the decision makers and allowed the best idea to be identified and supported . The downside of this type of approach is the lack of a grand strategic architecture or strategic design . Often , strategy has a weak justification and easily disputed

On the other hand , strategy can also start from the top of the managerial structure . This is more common because it allows for a clearer structure of the...