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  • Essay / Strategic Management - 987

    Definition of strategic management: There have been problems in obtaining a conclusive definition of strategic management; Experts around the world have different ways of looking at the issue of strategic management, hence the derivation of different definitions. According to Tyndall, Cameron and Taggart in their book “Strategic planning and management guidance for Transportation Agencies”, they wrote that each company has its own description of strategic management. They further stated that strategic management can be classified based on one's own growth or advancement in each business due to education or training, occurrence of management risks, how the he organization is managed, external factors impacting the lives and activities of the people as well as the acceptance and desire of the leader (Tyndall, Cameron & Taggart 9). Strategic management can then be defined as the process of creating, applying, evaluating and making decisions that will help an organization achieve its objectives, taking into account the external environment and the major role being played internally ( Waters 29). It is based on how any organization designs its plan to carry out the way the business should be managed, which allows the organization to establish good relationships with customers and employees, both internally and 'externally. Strategic management involves different areas to grow the business with intention. to identify its general growth, the procedures implemented to achieve the aim and objectives of the organization, the resources used to achieve the objective and the intelligence of the management personnel for the achievement of these objectives (Waters 5) . Water, in his book on "Operational Strategy", asserted that strategy...... middle of paper ... for the growth of such a business. Marketing is not only about manufacturing the product but also about ensuring that the products are sold and meet a good level of customer appreciation, so that the products are appreciated not only locally but also internationally. In the journal of managerial marketing, he stated that there are some basic functions of marketing which are: buying and selling, transportation of merchandise, storage, grading, financing, risk taking and market knowledge. Nevertheless, we will talk about these functions and their advantages and disadvantages for the organization. The functional aspect of transportation and storage involves the movement of products from the point of production to the point of distribution and also takes into account the storage of goods. These processes tend to be the major concern of any organization.