Strategic Management Essay Example | Topics and Well Written Essays - 3000 words - 12

Strategic Management - Essay Example Strategy formulation and implementation include a variety of organizational practices. It is often understood as the ‘decision related to the design of a process and the infrastructure needed to support the process’. To illustrate, it is the process that defines the organizational goals and lays out plans in long term to achieve the intended goals. Strategy not only determines the organizational mission and objectives but also covers other areas such as marketing, finance. The following diagram shows the various aspects of organizational strategy. However, an outstanding strategy does not necessarily mean that the organization would achieve its goals. In addition to the well-designed strategy, the method of implementation is a significant factor that determines the organizational success. Therefore, successful managers would integrate the various strategic aspects with all important elements of the organization. As it is stated in Wiley & Sons, in order to achieve goals, managers must ‘comprehend their potential combinations and coordinate and integrate business factors’. Organizational Strategy became a subject for debate since 1987 when it was termed as design strategy and emergent strategy by Henry Mintzberg. He argued that strategy not only includes predetermined actions but also the gradual developments or immediate steps taken to deal with changing situations. Although in general sense strategy indicates the preset programs, organizational decisions are always subjected to the immediate deviation.