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.
Making companies able to compete is the purpose of strategic management. To that end, putting strategic management plans into practice is the most important aspect of the planning itself. Plans in practice involve identifying benchmarks, realigning resources – financial and human – and putting leadership resources in place to oversee the creation, sale, and deployment of products and services. Strategic management extends to internal and external communication practices as well as tracking to ensure that the company meets goals as defined in its strategic management plan.
Imperial Research & Consultancy conducts thorough analysis of the general and competitive organizational environment so as to take right decisions. We conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats), i.e., to help you make best possible utilization of strengths, minimize the organizational weaknesses, make use of arising opportunities from the business environment and not to ignore the threats.
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.