Strategic Management
Talking about Quality management in the organizational firm, we must have the strategies .the strategies that can build up competitive advantage by completing the planning and execution management.
this is the simple point that i can give you about this topic. enjoy!
v Strategic Management
The management that bases all actions, activities, and decicion on what is most likely to ensure successful performance in the market place.
Components:
· Strategic Planning (referred to action plan)
1. Conducting the SWOT Analysis (internal Vs exernal)
2. Developing the Vision and Mission
3. Developing the Guiding Principles (the responsibility of management team)
4. Developing Broad Strategic Objectives (measurable of vision and mission)
5. Developing Action Plan (drifting the individual tactics à make the detail and specification )
· Strategic Execution ( implementation of maximum efficiency and effectiveness)
Communicate à Build capabalities à Establish strategy à Eliminate administrative barriers à identify advocates and resisters à Exercise strategic leadership à be flexible and improveise à monitor and adjust as needed
v Competitive Strategy
· Cost Leadership Strategies (Improving efficiency and control costs throughout the cost chain)
· Differentiation strategies ( Adding value)
· Market Niche Strategies (Specific target market)
v Core Competencies
What organization do well that can be viewed as a competitive advantage.
v Competitive Advantage
Directly and significantly increase customer demand by achieving excellence value that hard to replicated by competitors.
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