“Think of your post graduation job search as strategic decision. How would strategic management model be helpful to you in

identifying and securing the most promising position”

Strategic management is the process of managing the pursuit of organizational mission while managing the relationship of the

organization to its environment (James M. Higgins).

Strategic management is defined as the set of decisions and actions resulting in the formulation and implementation of strategies designed to achieve the objectives of

the organization (John A. Pearce II and Richard B. Robinson, Jr.).

Strategic management is the process of examining both present and future environments, formulating the organization's objectives, and making, implementing, and controlling

decisions focused on achieving these objectives in the present and future environments(Garry D. Smith, Danny R. Arnold, Bobby G. Bizzell).

Strategic management is a continuous process that involves attempts to match or fit the organization with its changing environment in the

most advantageous way possible (Lester A. Digman).

Therefore we can say that; strategic management is the process of determining the future direction of the organization and implementing

decision that aim at achieving the organization strategic objectives.

Strategic management model refers to the pattern or mode of strategic management. According to the strategic management model, a number of steps are taken to achieve

the objectives of a company. Different strategic management models are chosen by various companies according to their conveniences.

– About strategic management modelStrategic management model is also known as strategic planning model. A strategic planning model is selected for the purpose of formulating and implementing the strategic management plan of a particular organization. Nevertheless, it has been proved that no strategic planning model is perfect. Every company designs its own strategic planning model frequently by choosing a model and transforming it as the company advances into formulating its strategic management plan procedures. A number of strategic planning model options are available for the companies from which they can choose. 

– The components of a strategic management modelIn the decade of 1970s, a large number of corporations followed a recognized strategic planning model, which is top down in nature. According to this model, strategic planning was a calculated procedure where the top management would design the strategy of the company and after that it was passed on downward in the company for application. The steps involved in this strategic planning model were the following: 

Mission

The mission of an organization is the unique reason for its existence that sets it apart from all others (A. James, F. Stoner, and Charles Wankel) The organization's mission describes why the organization exists and guides what it should be doing.

Often, the organization's mission is defined in a formal, written mission statement. Decisions or mission are the most important strategic decisions, because the mission is meant to guide the entire organization. Although the terms "purpose"

and "mission" are often used interchangeably, to distinguish between them may help in understanding organizational goals.

Objectives

The term objective is often used interchangeably with goal but usually refers to specific targets for which measurable results can be obtained. Organizational objectives are the end points of an organization's mission. Objectives refer to the specific kinds of results the organizations seek to achieve through its existence and operations(William F. Glueck, and Lawrence R. Jauch) Objective define what it is the

organization hopes to accomplish, both over the long and short term.

Strategies

Strategies are the means by which long-term objectives will be achieved. "A strategy is a unified, comprehensive, and integrated plan that relates the strategic advantages of the firm to the challenges of the environment. It is designed to ensure that the basic objectives of the enterprise are achieved through proper execution by the organization" (William F. Glueck, and Lawrence R. Jauch). Strategy formulation is the process of establishing the organization's mission, objectives, and choosing among

alternative strategies. Sometimes strategy formulation is called "strategic planning

Situation Analysis (internal and external)

Internal analysisThe situation analysis is basically a blend of PEST Analysis (Political, Economic, Social and

Technological Analysis) and SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats Analysis). Internal analysis is an important component of situation analysis, which studies the condition

within the company taking into account the following factors: 

External analysis

Includes suppliers, shareholders and competitors. These are the key elements to the company’s survival. So the manager must focus on how the suppliers shareholders and the competitors are kept in check for the company long run development of the

company.

The control

The control function includes activities undertaken by managers to ensure that actual control

results conform to planned results. Control tools and techniques help managers pinpoint the organizational strengths and weaknesses on

which useful control strategy must focus.

In order to simplify the discussion of the tools and control techniques, many authors divide them into two categories: nonfinancial and financial. Nonfinancial control techniques do not require financial data to be used,

while financial control techniques require some form of financial data such as profits, costs, or revenues. Each of the control techniques is intended for a different purpose. Therefore, in order to make rational choices about which

control techniques to implement, managers must understand what a given control techniques can and cannot do.

Non financial control techniques. Non financial control techniques include rewards and punishments, selection procedures, socialization and training, the management

hierarchy, management by exception, inventory and quality control, and PERT.

Financial Control Techniques. Financial controls help managers to keep costs in line, maintain a viable relationship between assets and liabilities, sustain adequate liquidity, and achieve general operating efficiency. Some of the best-known and most commonly used financial control techniques are: budgets, ratio analysis, break-even analysis, and accounting audits

A strategic planning model is applied in functional domains like the following: 

Research and development

Marketing

Production

Procurement

Information systems

Human resources

Forms of Strategic Management Models

The different types of strategic management models can be categorized into the following types:

Basic strategic planning model

Alignment strategic planning model

Goal-based or issue-based strategic planning model

Self-organizing or organic strategic planning model

Scenario strategic planning model

Conclusion and recommendations

Strategic management is a continuous process. There are three stages in this process: strategy formulation, strategy implementation,

and evaluation and control.

Strategy management is also viewed as series of steps. Therefore, the strategic- management process can be best be studied and applied using the model. A review of the major strategic management models indicates that

they all include the following steps: performing an environmental analysis, establishing organizational direction, formulating organizational strategy, implementing organizational strategy, evaluating and controlling

strategy.

The strategic management process mostly involves top management, board of directors, and planning staff. In its final form, a strategic

decisions is molded from the streams of inputs, decisions, and actions.

All organizations engage in the strategic management process. The success of an organization is generally dependent upon the strategic

management and organizational abilities of the managers.

Many research studies show both financial and nonfinancial benefits which can be derived from a strategic-management

approach to decision making.

Moreover, the concept of strategic management is still involving and will continue to undergo change. Therefore, understanding and following and complete process of strategic management can be helpful to practicing managers to gain organizations'

objectives.

PARTICIPANTS

SHABAN, HADIJA REG. 00977

NYITI, GLORIA PHILIP REG. 00976

MWITUMBA, BENNO B. REG. 00937

NDOMBA, JUSTUS DAMAS REG. 01016

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Management Journal 20 (1999): 147–166.

Digman, L. Strategic Management. Houston: Dame, 1997.

Hambrick, D., I. MacMillan, and D. Day. "Strategic Attributes and Performance in the BCG Matrix." Academy of Management

Journal (1982): 500–509.

Kroll, M., P. Wright, and R. Heiens. "The Contribution of Product Quality to Competitive Advantage: Impacts on Systematic Variance and Unexplained Variance in Returns." Strategic Management Journal 20 (1999): 375–384.