Strategic and systems management – the path to success
We have talked about strategic planning before. Let us now move on to strategic and system management. You may ask what the difference between these two is and why we should study them separately. Let us delve deeper into these two subjects so that you get comprehensive knowledge and can apply them in your professional life also.
Strategic planning – the starting point of strategic management
Strategic planning deals with activities that ensure that an organization is moving towards its goals, has set its priorities and is focusing its energy and resources on the defined goals and also ensures that all the employees are working on the same goals.
The strategic planning is primarily involved in defining the actions and decisions of the company with the focus being on the future. Thus every company draws a strategic plan and sticks to it and refers to it whenever changes occur, both internally and externally.
Strategic management – the overall view
Let us now talk about strategic management. It is necessarily concerned with systematically coordinating all the activities and resources. It aims to align all the actions with the vision and mission of the organization. It is the extensive collection of activities and processes and aligns them with the resources and actions.
The strategic management system makes it possible to derive feedback on the static plan and helps it to grow and evolve according to the changing circumstance.
You must have understood by now that much of the studies related to strategic management are theoretical. At Myland Business Institute we teach all the theories behind this concept and move beyond that by asking our students to relate them to the real world case studies. The students who start working as independent entrepreneurs in the second year of their studies get to apply the theories. It is a learning process that benefits the students a lot.
The students not only get hands-on experience on designing strategic planning but also gather experience on the obstacles they may face in future. They also learn how to express their views and coordinate between different departments.
A lot of framework and methodologies exist in the field of strategic management. Most of the frameworks have certain common attributes like analysis of the situation, strategy formulation, execution of the strategies and evaluation.
Myland Business Institute gives its students full exposure to the major ones that they may have to use in their career. Our efforts have always been to develop future entrepreneurs who can give shape to their ideas and create successful business ventures. Myland Business Institute is dedicated to achieve its mission and will always remain so. We invite you to visit our page, www.busiver.com and find out what we can do for you.