Strategic Management - Plannings application has changed from the past(and why it is now necessary Evaluate the role of strategic planning and related

Strategic Management - Plannings application has changed...

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Planning’s application has changed from the past (and why it is now necessary). Evaluate the role of strategic planning and related outcomes in health care to support your argument to management.Definition of Strategic managementStrategic management is the management of an organizations resources in order to achieve theorganizations goals and its objectives. The process of strategic management involves the setting of company objectives, analyzing internal organization, evaluating strategies already set by the company and analyzing the competitive environmentAdvantages of strategic Management. According to Yoo and Digman (2013), a strategic management is necessary for an organization in order to cope up with the uncertainties that might come up in the organization’s decision making organ. The following are the summary of the advantages of strategic management. It provides a means of dealing with unforeseen problems and opportunities that may arise in the company. 1.Strategic management provides employees with objectives and clear directions for betterment of the organization. 2.It results into a better performance compared to non-strategic management approach3.It helps in employee motivations4.It results into better and faster decision making by the company directors. 5.The company can make more profit as a result of cost savings. The strategic management has been identified as the integral function of an organization. Organizations also succeed because of many other reason as adequate resources, good products and services and other success factors of an organization. Evolution of Strategic ManagementOver the years, the problems of strategic management have evolved through five states shown below.
1.Basic Financial Planning2.Long-range Planning3.Strategic (Externally Oriented) Planning4.Strategic Management5.Complex Systems StrategyBasic Financial PlanningThe early efforts in the corporate strategy were limited towards development of budgets alone. This was by realization of the managers that there was need to allocate the funds. This was necessary because budgeting supported strategic objectives of the firm.

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