Strategic Management Tools Essay

2495 words - 10 pages


Strategic Management Analysis Tools





The number of strategic management analysis tools have increased dramatically in the last twenty years. This increase could be a result of a growing demand to meet the new demands this new global market. This literature review aims to outline these articles and findings by concentrating on the strategic management research tools and describing the tools that are the most useful for managers to use.

Keywords: tools, strategic analysis, strategic management, strategic planning.

Strategic Management Analysis Tools
Brief History
In recent decades, ...view middle of the document...

Because the tools were only a method to attain the objectives determined by management, the study of strategic management analysis has not been the focus of researchers. Despite, the lack of research on this subject matter, strategic management analysis tools is an instrumental part of a strategic plan.
As a prelude to reviewing strategic management analysis tools, it is important to evaluate the history of strategic planning. What we consider strategic planning today was preceded by the process Programming, Planning, and Budgeting Systems also known as PPBS which was introduced in the 1940s. Initially, this process was rarely practiced by the managers during that time period. With the growth of the economy not only domestically but also globally during the 1950’s, Fortune 100 Corporations like General Electric started planning strategically and promoting its merits. Companies wanted to know at this point “What was strategic planning?”
Strategic planning experienced a growth period during the decades of the 60’s and the 70’s. Companies experienced such great expansion which ultimately resulted in their business units becoming more complex. This growth created a need for more formalized methods for managing each business unit. Longer planning and budgeting cycles were now required to accommodate the longer operating period. In the past, managers only used financial planning as their primary framework for managing but eventually realized that these companies required a more intense strategic planning. It is during this stage that the focus would be on the process of strategic planning. It was evident by the elite companies that started implementing strategic planning.
In the 1980’s the strategic planning and implementation trend started to wane as companies experienced less than satisfactory results from certain strategies. As with any business application, literature began to reflect both the pros and cons of strategic planning. Upon review of strategic applications, the consensus was that overall the methods were in itself not problematic, but the failures that resulted were clearly due to the following: (1) Less than enthusiastic support from management, (2) Not enough focus on data collection, (3) Procedurally, inept without follow through on initial goals, (4) Not considering a budget while preparing strategic plan and (5) Failure to implement strategic goals.
Strategic planning in the late 1980’s graduated from simply being applications processed to more technique driven. On the one hand, most practitioners of strategic planning recognize the value of the process as a means of disciplining their planning activities and applying critical thinking to their business situation. Strategic planning has become more valuable simply from continued use of the current tools and methods by managers with more sophisticated analytical skills. The strategic planning process itself provides a basis for answers by the through the use of...

Other Essays Like Strategic Management Tools

Strategic Management Essay

1078 words - 5 pages 22716C Developing Strategic Management and Leadership Skills Unit code: F/602/2058 QCF Level 7: BTEC Professional Credit value: 10 Guided learning hours: 30 Unit aim This unit provides the learner with an understanding of the links between strategic management, leadership and organisational direction, and the skills to be able to apply this understanding. Unit introduction The main aim of this unit is to

Open Heart Surgery at Cabarrurus Mem

2450 words - 10 pages STRATEGIC MANAGEMENT What is strategic management?  Strategic management  can be used to determine mission, vision, values, goals, objectives, roles and responsibilities, timelines, etc. Top of Category What is strategic planning?  Strategic planning is a management tool, period. As with any management tool, it is used for one purpose only: to help an organization do a better job - to focus its energy, to ensure that members of the

Strategic Planning And Strategic Objectives

479 words - 2 pages the tools and techniques used to measure quality. Lastly, this paper will show who has the ultimate responsibility for quality assurance, and the extent to which the organization's process improvement plan is related to the organization's strategic plan.Strategic planning and strategic objectives allow an organization to achieve consistency and competitive advantage for its management and products. When used effectively, both are linked to


554 words - 3 pages be able to use different tools and knowledge to surpass these challenges by modification of plans by setting clear-cut and realistic strategic plans as well as creating concise but specific objectives that will guide the organization in achieving its goals and attain success. Reference: Buchbinder, S.B. & Shanks, N.H. (2012). Introduction to Healthcare Management. Burlington, MA: Jones & Bartlett Learning. MDOC. (n.d.). The Michigan

Able Corporation Management Strategies

1670 words - 7 pages Able Corporation: Strategic Management Process Strategic Management Process:- • Establishing the hierarchy of strategic intent i) Creating and communicating a vision: To be the leader in the US power tool market and provide the best services and make innovative products especially in the cordless product market where it has the core competence. To establish itself strongly in the manufacture of circular saws

Total Quality Management

622 words - 3 pages -developed tools and techniques of  quality control. As a business phenomenon, TQM enjoyed widespread attention during the late 1980s and early 1990s before being overshadowed by ISO 9000, Lean manufacturing, and Six Sigma . Total quality management can be summarized as a management system for a customer-focused organization that involves all employees in continual improvement. It uses strategy, data, and effective communications to integrate the

managing human resource

823 words - 4 pages culture of safety, establish a safety policy, set specific loss control goals, conduct regular safety and health inspections, organize a safety committee and protect vulnerable workers. 2. Name 3 common tools of Human Resources strategic management. Strategic human resource management means formulating and executing HR systems that produce the employee competencies and behaviors the company needs to achieve its strategic aims. Three

Cmi Essay Guide

906 words - 4 pages range of strategic analysis tools to audit progress towards strategic aims and objectives Note: The candidate may make SWOT analysis of the organisation chosen. 2.2 Review and assess the expectations of major stakeholders and their influence upon the organisational strategy Note: The candidates are expected to identify major stakeholders like the management board, customers, suppliers, government etc. And discuss how they are influencing the

Knowledge Management

1052 words - 5 pages 1. Explain about strategic management process and strategic approaches. The strategic management process means defining the organization’s strategy. It is also defined as the process by which managers make a choice of a set of strategies for the organization that will enable it to achieve better performance. Strategic management is a continuous process that appraises the business and industries in which the organization is involved; appraises


5691 words - 23 pages successfully completed this course, they will be able to:Work individually and in teams to gather information and apply the tools and process of strategic management to create sustainable competitive advantage for a firm (Strategic Management Process) (Program Outcomes 1-7).Work individually and in teams to gather information and conduct an analysis of a firm's external environment for use in its strategy formulation (External Environment Analysis


661 words - 3 pages Etymology and Definitions The verb manage comes from the Italian maneggiare (to handle, especially tools), which derives from the Latin word manus (hand). The French word mesnagement (later ménagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.[1] Some definitions of management are: Organization and coordination of the activities of an enterprise in accordance with certain policies

Related Papers

Strategic Management Essay

1698 words - 7 pages only a buzzword. Actually buzzword would be a right term if just strategy exists and nothing is done to execute the strategy. These are the explanations why strategy and strategic management are sometimes called buzzwords. In my opinion strategic management is not a buzzword. Well determined strategy which is also put into practice by proper strategic management is one of the most important tools for top management to improve company’s performance

Strategic Marketing Planning For Radically New Products Essay

3679 words - 15 pages . Little became fashionable, but it soon became apparent that the use of such tools was very mechanistic and a somewhat unsubtle approach to attempting to develop a corporation. Given the shortcomings of the case study anecdotes, long-range planning, and portfolio matrices, the stage was set for more substantive intellectual frameworks. Strategic Management, late 1970s -- Michael Porter's arrival on the scene in 1979 began to turn what had by now come

Operations Management Essay

1022 words - 5 pages through a number of tools and processes. In conclusion, Operations Management can be seen as the day-to-day operations of products and or services. Which can will cause a company to be strategic, using operations tools such as Total Quality Management, Six Sigma, and many other tools to achieve its ultimate goal which is to satisfy its customer, and still have is profits, while performing this in a operational strategic fashion, with all tools at

Strategic Human Resource Management Essay

1736 words - 7 pages strategic business objectives and the satisfaction of individual employee needs. (Stone, 2010) The Strategic Human Resource Management focuses in the linking of all human resource activities with the organisation’s strategic objectives. (Stone, 2010) It was first developed in the late 1980s and then it has an impressively development in the following 20 years. This idea has been discussed and researched intensively, European, American and Japanese