What is company strategic management

Last updated: 2024-01-25

What is strategic management?

Strategic management of an organization is management focused on long-term planning and direction of the organization. It ensures that things do not happen randomly, but according to pre-planned, long-term intentions and goals. Strategic management formulates the rules of operation, priorities and the direction in which the organization wants to go in the long term.

Strategic management is a recurring cycle that has four phases. Since strategic management is long-term management, it is typically an annual or multi-year cycle.

  1. Definition of strategic goals
  2. Implementation planning
  3. Strategy implementation
  4. Strategy evaluation and correction

what is strategic management

Strategic management is a complex managerial discipline, including proper management, decision-making and the subsequent management of the fulfillment of everything that will enable the organization to achieve the set goals. It includes all managerial activities from the correct determination of goals, the establishment and creation of various policies and plans, the definition of projects, or various measures that help to achieve goals.

Therefore, if you want to manage strategic management well, you must be able to manage your tasks, work in the entire organization and individual projects. There must be a schedule that says when which goals will be achieved and when. Including the feeling for a change of direction.

The implementation of the strategy concerns everyone

It would be a mistake to think that strategic management is the task of top management only and does not concern the rest of the company. On the contrary, it permeates the entire company and concerns both projects and the daily tasks of all people in the company. Achieving strategic goals must be broken down into individual sub-goals, metrics, tasks and spread across all parts of the organization and individual teams.

  • Strategic goals must be broken down into measurable sub-goals and key results
  • Each area in the company has its own strategic goals
  • The realization of individual goals takes place either with the help of projects or daily activities
  • It can be said that each individual task should in some way support the achievement of one of the strategic goals
strategy implementation

What is essential to strategic management?

Strategic management is not only about the top management, but thanks to the implementation of the strategy, it is spread over the entire organization and the daily tasks that must be in line with the strategic goals. It is therefore absolutely essential that all workers know what the common goals are and what their role is in achieving them. Directly or indirectly through the tasks they are in charge of.

  • Communication of strategy towards the company
  • Correctly setting measurable goals
  • Good team management and coordination

How Aptien supports strategic management

how to manage strategy implementation