Assignment

Submitted to
Sir Sajid Mehmood
Submitted by
Sohail Amin 15082120-065
Amna Khalid 15082120-046
Umair Mushtaq 15082120-060
Subject
Strategic Management
Topic:
Nature of Strategic Management
Strategic Management
Key term in Strategic Management
Strategic Model
Benefits of Strategic Management
Department
Management Sciences

University of Gujrat
Nature of Strategic management:
Is well organized approach through, we can easily identify to company vision and
mission. It is based on the effective principle and management tools through can
easily meet to final goal.
“Strategic management is both the process and beliefs to determine and control
the organizational affiliation in its vibrant environment. It is a process to describe
approaches and procedures to help management become accustomed to the current
business environment through the use of objectives and strategies. As a
philosophy, it changes the viewpoint of manager to deal with competitors,
customers, markets and even the organization itself. Its purpose is to motivate
management's wakefulness of the strategic implication of environmental events
and internal decision”
Strategic Management:
“Strategic management is the continuous planning, monitoring,
analysis and assessment of all that is necessary for an organization to
meet its goals and objectives. Fast-paced innovation, emerging
technologies and customer expectations force organizations to think
and make decisions strategically to remain successful. The strategic
management process helps company leaders assess their company's
present situation, chalk out strategies, deploy them and analyze the
effectiveness of the implemented strategies. The strategic management
process involves analyzing cross-functional business decisions prior to
implementing them. Strategic management typically involves:
Key term in Strategic Management:
“There are some of basic strategic management key terms that need to be
considered at the beginning in order to completely understand strategic
management. These strategic management key terms are eight in numbers and
are the base of strategic management.”
 Strategists
 Vision Statement
 SWOT analysis
 Long Term Objectives
 Policies
 Final report
 Controlling
Strategic Model:
The model of strategic model is:
1. Mission Vission
2. Set the objectives
3. SWOT
4. Strategy Formulation
5. Application
6. Monitoring
Benefits of Strategic Management:
The benefits that are:
 Achieve goal easily
 Effective and efficient work
 Companies create competitive advantage
 Long oriented goal and strategies
 Well organized structure
 Identification, prioritization and exploration of the opportunities
 It allows organizations to be proactive rather than reactive
 It increases operational efficiency
 It helps to increase market share and profitability
 It can make a business more durable