FREE online courses on Maximum Managing People - Managing At The Top - Strategic Management

 

In today's world, it is not enough to have a successful business model. Each facet of a firm's process must be well thought out. Because competitive requirements of today's new economy demand that productivity gains be generated everywhere. This requires fundamental strategic management.

 

In this context I feel that businesses should be built on a 'deep research based intellectualism' which provides the foundation for good strategic management. As new technologies are introduced, there is a requirement to adapt to them.

 

In order to do this it is important to expand the firm's body of knowledge.  Buy trade and research publications that focus on the issues. These will be very revealing. Do not hesitate to surf the net for the information available there.

 

Also learn to look at strategy as maintenance; how to plan and protect on the basis of a status quo environment; how to be part of a planning process in which strategic initiatives are thought out.

 

Strategy is part of the decision linkage process. These are the grouping of current decisions from which we must choose our destiny. Usually there are only a handful of decisions from which to choose. The real question is whether our interpretation of the situation is correct.

 

Often our minds can only recall a certain specific core information set. Thus we are relying on a mild strategic framework. We are not relentlessly probing our strategic boundaries. Often the real boundaries are based on knowledge we do not have. Thus we must develop a learning model which allows us to maximize our strategic management framework.