Study Of Strategic Management Objectives

Published:

Strategic management is one of the most key human activities. From the time human beings began forming social organizations to accomplish aims and objectives they could not achieve as persons, managing has been necessary to ensure the ordination of individual efforts. As society constantly relied on group effort, and as any organized groups have become large, the task of managers has been increasing in importance and complexity. Henceforth, managerial theory has become crucial in the way managers manage composite organizations. (www.quickmba.com)

The middle theory of this paper is that although some managers in different parts of the world could have achieved managerial success without having basic theoretical knowledge in management, it has to be clearly emphasized that those managers who have mixed management theory in their day-to-day practice, have had better chances of managing their organizations more professionally and effectively to achieve both individual and organizational objectives. Therefore, managers of modern organizations ought to appreciate the important role they play in their respective organizations if they are to achieve set goals. Secondly, there is need to promote excellence among all persons in organizations, especially among managers themselves. (www.boardsource.org)

Lady using a tablet
Lady using a tablet

Professional

Essay Writers

Lady Using Tablet

Get your grade
or your money back

using our Essay Writing Service!

Essay Writing Service

Definition of strategic Management

Management is the art, or science, of achieving goals through people. Since managers also manage, management can be interpret to mean accurately making sure people do hat they are supposed to do. Managers are therefore, expected to ensure greater productivity or, using the current terms, continuous improvement more broadly, administration is the process of conniving and maintain an atmosphere in which persons, working together in groups, efficiently achieve selected aims . In its expanded form, this basic definition means several things. First, as manager, people take out the executive function of organizing, controlling, planning and leading. Third, management apply to managers at all managerial levels. Fourth, the endeavor of all managers is the same o creates additional. Finally, managing is concerned with output - this implies efficiency and efficiency. (www.allen.com)

Strategic Management Objectives, Functions, Goals, and Essentiality

Management Objectives

There are fundamentally three management objectives. One objective is ensuring

Organizational goals and targets are met with least cost and smallest amount waste.

The second objective is looking after health and welfare, and safety of staff. The third purpose is caring the mechanism and resources of the organization, including the human resources. (www.businessplans.org)

Strategic Management Functions

To understand management, it is imperative that we break it down into five managerial functions, namely, planning, organizing, staffing, leading, and controlling.

A number of follow-up studies have tasted the validity of the roles that are categories among different types of organization and at different levels within given organization. The evidence generally supports the idea that managers- regardless of the type of organization or level in the organization- perform similar roles. However, the emphasis that managers give to the various roles seems to change with their organizational level. (www.strategicmarketing.com)

The main objective of the study is to find out what is very important to a manager of an organization. Is this those functions performed by him, or the roles played by a manager.

This study will help us to find out what is important to a manager, or what are his duties are. (www.imdb.com)

We can describe the role of a manager in two ways:

1. Primary.

2. Secondary.

Primary:

The primary duties of manager are:

Planning: It contains Defining goals, establishing strategy, and developing plans to coordinate activities.

Organizing: It be contains determining what is to done, how it will be done.

Leading: It contains directing and motivating all involved parties and resolving conflict.

Controlling: Monitoring activities to ensure that they are accomplished as planned.

Secondary: The secondary objective of the study is to identify the secondary duties of the manager. They are:

Management role.

Interpersonal role.

Informational role.

Decisional role.

The concept of managerial roles (Social science role of strategic management)

Describing what managers do is not easy to or simple. Just no organizations are alike and also no managers are alike. Despite this fact, researchers have, after many years of study, developed three specific categorization schemes to describe what managers do: (www3.interscience.wiley.com/journal)

Lady using a tablet
Lady using a tablet

Comprehensive

Writing Services

Lady Using Tablet

Plagiarism-free
Always on Time

Marked to Standard

Order Now

Managerial functions.

Managerial roles.

Managerial skills.

Managerial functions: (Various perspective of the theory of management perspective)

According to functions approach, managers perform certain activities or duties as they efficiently and effectively coordinate the work of others. By

Planning.

Organizing.

Leading.

Controlling.

By examining the management functions the roles of a manager is identified clearly. The term management role refers to specific categories of managerial behavior.

The concept of managerial roles can be categorized in ways:

Interpersonal roles.

Informational roles.

Decisional riles.

Goals of All Managers

According to functions approach, managers perform certain activities or duties as they efficiently and effectively coordinate the work of others. By:

Planning.

Organizing.

Leading.

Controlling.

By examining the management functions the roles of a manager is identified clearly. The term management role refers to specific categories of managerial behavior.

The concept of managerial roles can be categorized in ways:

Interpersonal roles.

Informational roles.

Decisional riles.

The Essentiality of Management in Any Organization

The major task of the manager of such companies is so vast and stressful. That's why he has to be so very much confident about his job. And the plan of marketing is multiplicative in nature. The steps that are taken by marketing manager of are below: (management.about.com)

1. Objective

2. Product

3. Policy

4. Finance

5. Production cost

6. Classifying customers

7. Machineries

8. Labor

9. Price

10. Advertisement

11. Quality

12. Raw materials

Managerial Skills and the Organizational Hierarchy (www.csuchico.edu)

Objective

The objective of the marketing manager to execute such program that has to full fill the corporate objective of the company. The vision, mission, goal are set by the board of directors. So the plan has to be such way that has to support the corporate objectives.

Planning:

He has take the objectives to the next level through a sound marketing planning. This has to support the management objective.

Product

he marketing manager has to decide what type of product his company wants to launch. Is this gonna be totally a new product or The existing product has to be newly developed marketing policy.

Finance:

Then the manager has to decide from where the finance will be arranged. Will the financing has to come from the Board of directors or it is going to be arranged from selling bonds and stocks or share.

Production cost

The manager hast to then identify the Actual production cost for the new product. In every step of the level of production there is a cost has to incur, And the manager has to identify those costs.

Classifying customers:

It is one of the major task of a marketing manager to classify the customers. Whether he is going to target the whole market or two or three segments or a single nice.

Materials:

For the product from where the raw material has to be fetch. It has to done by economic way. If the material costs too much then the profit won't be so high.

Labor

For the executing the new product the manager has to pick or select the appropriate man power for the production.

Price

The major part of a manager to determine the price of the product. It cannot be ho high so that the consumers won't buy or the price wont be so low that the profit from the product is too low.

Advertisement

Then the manager has to decide the way of communicating with the customers. Whether is it gonna be through advertisement, or direct marketing, selecting the promotion of the product. The main reason is to identify the best effecting awy to communicate with the consumers.

Quality:

The manager then hast ensure the quality of the new or existing product

Why Study Management Theory? (strategicmanagement.net)

Theories are perspectives with which people make sagacity of their world experiences.

Organizing:

The manager of the company then ha to organize the whole operation for the executing the new product. The process is done by two steps:

Lady using a tablet
Lady using a tablet

This Essay is

a Student's Work

Lady Using Tablet

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Examples of our work

They are

Through departments

To combine the functions of the departs

Departments:

There are a lot of departments involving in the production process. There are so many departments in a company. There are material procure dept, production dept, finance dept Accounts dept.etc.

Mintzberg and Whittington classifications of strategic management

"Mintzberg's Theory of Management'':

Mintzberg's ten organization roles are a total set of behaviors or roles contained by a company atmosphere. Each role is dissimilar, thus on both sides of the diversity of all recognized organization behaviors. (http://www.lmcuk.com)

Ten management role identified by Mintzberg:

Figurehead of a company.

Leader of a company.

Liaison in a company.

Monitor of a company.

Disseminator of a company.

Spokesmen of a company.

Entrepreneur of a company.

8. Disturbance handler of a company.

9. Resource Allocator of a company.

10. Negotiator of a company.

"Whittington's classification of strategic management perspective":

The disagreement is expressed in this document that there are two key assistance that the systematic rule force make to tactical administration:

1. To communicate leadership on which tactical development approach to utilize when and as well on how to outlook them as a harmonizing set that is competent of being used in a stretchy way to deal with all aspect of the tactical decision-making task.

2. To offer a variety of methodologies with the purpose of can be put in examine of the tactical planning procedure. (http://journals.isss.org)

Prescriptive Schools

1) Design School.

2) Planning School.

3) Positioning School.

Descriptive Schools

4) Entrepreneurial School.

5) Cognitive School.

6) Learning School.

7) Power School.

8) Cultural School.

9) Environmental School.

10) Configuration School.

How these management theories are used in an organization are explained below :( managementhelp.org)

The manager has to organize through these departments to run the operation smoothly.

Coordination

The next level of the manager task to coordinate the product production process. They are done through the below mention process:

Supplies:

He has to make sure the supplies of the raw materials constantly. For executing a smooth operation the supplies of the material has to be ensured.

Customers:

Customers are the heart of a business firm. So the main task is to make them loyal to the

product. Grab new customers, make them indulge to try the new product.

Quality assurance:

The product which is to be launched to the market has to be good in quality. Without having a quality product the company has to loose the market share or the reputation of the company.

Collecting manpower:

The one of important task to arrange or recruit allegeable man power. Without having arrange them the production dept will no be able run a smooth production operation.

Directing: (www.managementfilm.com)

Leadership:

Directing include leadership, communicating, guidance, feed back, and motivating. The manager has to be a good leader, he has to lead the whole team means, he ha to be in control in every task done in process.

Communicating:

The manager has to communicate to all the dept in the organization and also out side of the company.

3. Guidence:

He ha to guide all the employee of the company. The thing is what has to be done, who will do what, who reports to whom etc.And has to give necessary feedback to all the employee of the firm.

4. Motivating:

The one of the major thing that the manager has to motivate the employees of the firm. Without motivation the manager cannot be able to make the employee to work. To many people motivation means different thing. To some one motivation is money, to some power, to some status etc. The manager has to decide how to motivating the employees.

Controlling:

Establishing standard:

The manager has to establish a standard for the work has to be done. Who will perform what, the quality of the performance, the work process, the who will report to whom, etc.

Comparing against standard:

The manager has to then compare the work done by the employees has to compare along with the establishing standard. What the employee has done the manager has to evaluate the performed work done by the employee. Then has to give if needed the necessary feedback to the worker.

Corrective action:

Then the manager has to take corrective actions if there is any deficit then he has to give corrective feedback to them.

A manager will be able to do his job if he studies strategic management, they are as below:

The manager has to execute the planning of the product process. It depend on the nature of the product. The product can be physical product or substantial, or service the company going to offer. The production process depends on the nature of the product.

Activities of production:

There are a lot of activities in the production process. Its like a cyclic ordered in type. They are explained below:

Location:

From which location the product will be offered, the manager has to make sure of it. Because the product or service outlet means a lot to the consumers. They want to take the product or service almost no distance from their residence. The want the product they are lookinf for has to be available in reach of their hand. That's why the location is very important to establish in very much closer to the consumer.

Which Site:

The manager has to determine from which site or plant the product will be produced. The closer the plant site is the better it will be to keep on continuous supply of the goods. And also be very much economic to the business. Because the distance is important to the business. The less the distance is the cost of carrying cost and time.

Scale of production:

The scale of production has to determine by the manager. According to the market size and demand the manager has to fix up the scale of production. And also depend the amount of investment and available finance.

Best way of working:

The manager has to identify the best way of working. The best way of reducing costs, the effective way of output of the work process work.

Who will do the work:

The manager then has to sort out the most efficient work force for the production. By which process they will recruit workers and employees, the selection process, The training process. Is it have to be on the job training or has to be off the job training. Are the employee going to have any past work experience at all or just the unskilled . Thw manager has to define all the things sort out.

What control is required: (www.rottentomatoes.com)

The manager has to fix the type of control he needs to control the production process. Who will be the group leader, who will be the supervisor, the different type of work will be done by whom, who will report to whom, the type of chain of command ill exists in the work environment. Etc.

Location

Labor:

From which location the labor will be collected.

Services:

The type of service are offered has to identified from which direction will be provide.

Transport:

The type of transport has to be fixed by the manager. From wich location the product will be carried to the service outlet.

Source of supply:

The manager has to the make sure from where the raw material will be collected. It has to be so cheap either is the cost and also in transportation cost also.

Political and Legal condition: (www.valuebasedmanagement.net)

Central and local government:

The policy of central and local govt and political leaders has to be take under consideration. Because Govt and political policies are has to be followed properly by the company. There are a lot of government's rules that the company has to follow. Without following them the company cannot run the business.

Government grants:

The company such doesn't need the got grant. But in the case of national emergency it is acceptable to the grant of govt.

Geographical factors:

It is very much important the geographic factors to take consideration, because preparing a marketing plan it is very important. The demand of the product can be different in different location. The behaviors of the customers of different area are different from others.

Political condition:

The political condition of the country a very important element. The policy of Govt some times are so tough the company cannot cope with it. So companies have to careful when they launch a new product. They has to follow the proper rules of the Govt.

The image of the organization:

The image of the company plays an important role in the mind of the customers. If the image is not so good the firm will not survive in the long run or gain profit or gain control of the market they are competing.

Siting

Local resident reaction:

Where the location of the new plant is going to establish it is very important to take consideration local people how they react. The way the company has to built new facility it has to be made clear to the local resident the aim, the benefit they are going to have from it.

National & international group: (www.bettermanagement.com)

It has to be take under consideration whether there is any objection from national and international objection for the new product or in the policy of the company.

Site size:

The size of the site is very important to launch a new facility. It cannot be so large or cannot be too small. According to the finance of the firm the size has to be appropriate.

Site cost:

The cost to build a new site has to be very much economic. Builting a new site is not so easy. Because huge amount of money involving to a new site. So costing has to be take under consideration to create a new site.

Provision of service:

The provision of service another important matter for the business. The type of provision the company has to offer must be according to their business policy.

Conclusion

For this assignment I tried very much to gather information on this organization. But in our culture companies are not very much helpful in reveling information about their internal affairs. But I tried very hard to collect information about this company.

In this assignment this is very much clear that Baximco pharma is one of the leading companies in producing medicines and other life saving drugs. So the management of this firm is so efficient and also effective to keep up the organization in smooth leverage.

The marketing sector is also plays a great role to make the customers loyal to its product, make new customers, and to hold great market share.

And for the HR department the company has a more active working environment in the organization. They select qualified employees; they are well trained, well motivated, and also well paid. That's why they have a large number of well trained and highly motivated also dedicated staffs.