• The strategic planning process- This is an important part in an organization. In this process, the employees or staff in all sections of the health care organizations is involved in planning and making decisions. The challenges are identified and solved then ways to improve the services are employed in order to bring great outcomes to the organization. Strategic planning is of great relevance to nursing administration which
Generally, strategic management is based on setting an organization‘s long-term development direction. The main business objective of this is to achieve a competitive advantage over other organizations by properly controlling resources and maximizing competencies within the organization. The culture of the business, the skills
Strategic management can be characterised as the plan or set that coordinates organisation’s objectives, strategies, and resources into a firm entirety. Strategic management is a planned technique that helps the administration of the organisation to apportion organisation’s resources into an innovative and reasonable stance in light of its relative internal strength and weaknesses that might support or affect the business of the company in the competitive marketplace (Johnson, et al., 2014). According to Boyd, et al (2012), it is observed that strategies are formed and intended for the entire organisations by managers and executives, therefore, it can be said that the strategic management of the company flows from the top management towards
This requires leaders to allocate the necessary resources and to design the organization to bring the intended strategies to reality. As we will see in the next section, this is an ongoing, evolving process that requires a great deal of interaction among these three processes. Second, the essence of strategic management is the study of why some firms outperform others. Thus, managers need to determine how a firm is to compete so that it can obtain advantages that are sustainable over a lengthy period of time. That means focusing on two fundamental questions: How should we compete in order to create competitive advantages in the marketplace?
Globalization is now the major way of doing business from country and it has an impact on decision-making processes of managers responsible for making interrelated decisions from country to country. Globalization is major tool in exploring the global decision-making processes for global managers as we all that these manager will have to deal the multination companies before we look in detail let’s look at management systems where viewed by different writers “Early management theorists developed principles for managing organizations that suited the times. A century ago, few workers were highly educated; most work was manual, tasks were repetitive, and rates of change were slow. Hierarchy brought unity and control, and principles of management
How does the globalization influence the international business? Globalization is primarily an economic phenomenon, involving the increasing interaction of national economic system through the growth in international trade, investment and capital flows. A rapid increase in cross-border social, cultural and technological exchange is part of this globalization phenomenon. Globalization has impacted the present world in numerous ways. These are: reduction of trade barriers permitting free flow of capital and services across national frontiers; creation of environment conducive to free flow of capital; formation scenario allowing free flow of technology among nation states; and development thrust in which free movement of labour can take place
"Strategic management approach is not to involve the best practice, strategic management method is to choose what kind of practice can make you different, unique, in different ways and your competitors' competition." Michael porter describes competitive strategic management
The PSS provider and each customer segment sometimes have different needs. Therefore, PSS should be designed collaboratively by incorporating not only PSS provider’s need but also multi-customer segment’s. In addition,
The quality and performance of the intermediaries have a critical impact on achievement of company's goals. In establishing a competitive advantage, distribution channels are of the significant importance. Each channel is designed on the basis of the buyer's needs, the buyer's purchasing behavior, and the nature of the buying process. The need to use more than one channel arises from the differing tasks demanded either by product variety, or market
Consequently strategic marketing will help the organisation solidify its place in the overall competitive business environment by creating a system ( marketing plan, promotional mix) or a strategy that acquires Customers. All marketing notions are centred around the all mighty customer and its relationship with the organisation or the business. The goal here is customer value and loyalty that will inevitably lead to profitability in the long