Strategic Management - An Introduction Strategic Management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. Strategic management can also be defined as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm’s performance. The manager must have a thorough knowledge and analysis of the general and competitive organizational environment so as to take right decisions. They should conduct a SWOT analysis  (Strengths, Weaknesses, Opportunities, and Threats), i.e., they should make best possible utilization of strengths, minimize the organizational weaknesses, make use of arising opportunities from the business environment and shouldn’t ignore the threats. Strategic management is nothing but planning for both predictable as well as unfeasible contingencies. It is applicable to both small as well as large organizations as even the smallest organization face competition and, by formulating and implementing appropriate strategies, they can attain sustainable competitive advantage.

Strategic Management is a way in which strategists set the objectives and proceed about attaining them. It deals with making and implementing decisions about future direction of an organization. It helps us to identify the direction in which an organization is moving.

Strategic management is a continuous process that evaluates and controls the business and the industries in which an organization is involved; evaluates its competitors and sets goals and strategies to meet all existing and potential competitors; and then reevaluates strategies on a regular basis to determine how it has been implemented and whether it was successful or does it needs replacement.
Strategic Management gives a broader perspective to the employees of an organization and they can better understand how their job fits into the entire organizational plan and how it is co-related to other organizational members. It is nothing but the art of managing employees in a manner which maximizes the ability of achieving business objectives. The employees become more trustworthy, more committed and more satisfied as they can co-relate themselves very well with each organizational task.

One of the major role of strategic management is to incorporate various functional areas of the organization completely, as well as, to ensure these functional areas harmonize and get together well. Another role of strategic management is to keep a continuous eye on the goals and objectives of the organization.

Excerpts from management study Guide

Also follow the video below:

 

start your day with a frog for breakfast. Eat it

Do you have enough time to get all your work done?
Do you spend long hours in activities that seem endless?
Do you have to start with easy tasks to feel that you have completed something, then you discover that these small pieces of tasks are not enough to achieve a single objective in you calender of objectives/ results?
if the answer to these questions is " Yes", you need to start eating the frog each morning.
Yes, eat the frog. Start with the ugliest task ever, the task with the greatest impact.

In other words, 20% of your daily activities achieve about 80% of your objective, so why not start with them. The other 80% of your activities will only achieve small, tiny results. So if you start with the most important activity with the biggest results, you can achieve success and you will be proud of yourself and lead a happy day.

However, if you sank in these tiny detailed activities that will absorb your energy and power and time to get 20% of your objectives done, you sacrifice 80% of your objectives that can be achieved only with less time and effort.

Think, plan, prioritize and focus on results. Be result oriented instead of activity oriented.

 

Negotiating the sale ( part 2)

As mentiod in episode 1, An efficient salesman / saleswoman should be familiar with skills that help him/ her close the sales. Negotiation is one of the skills necessary for him/ her to close the deal successfully,

Negotiation is not an inherited talent, trait or special gift or ability, it is a LEARNABLE skill that can be acquired and mastered with practice.

the following video, by Brian Tracy, explains how get and master this skill, how and when to use it.

Enjoy

 

Negotiating the sale

an efficient salesman should be familiar with skills that help him close the sales. Negotiation is one of the skills necessary for him/ her to close the deal successfully, Negotiation is not an inherited talent or trait, it is a learnable skill that ca be acquired and mastered with practice.
Brian Tracy in the following video explains how get and master this skill, how and when to use it.

Enjoy

 

Guidelines for Organizational Design

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Guidance, Compliance & Regulatory Information of food safety

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Medical Device Quality Systems Manual

Medical Device Quality Systems Manual