Everything you need to know about the importance of strategic management. Strategic management is the latest addition to the management disciplines. It is about success and failure, about the ability to plan wars and win them. Effective strategic management can transform the performance of an organisation, make fortunes for shareholders or change the structure of an industry. Ineffective strategic management [...]
Everything you need to know about strategic human resource management. Strategic human resource management refers to adopting a specific plan in regard to human resources, and revamping human resource policies and practices, and developing employee competencies to cope with the special or challenging situations. SHRM is essential in both large as well as in small companies. In small companies, it [...]
Everything you need to know about approaches to strategy formulation. Strategy formulation is often referred to as strategic planning or long-range planning. This process is primarily analytical, not action- oriented. The strategy formulation process is concerned with developing a corporation's mission, objectives and policy. This process involves scanning external and internal environmental factors, analysis of the strategic factors and generation, [...]