Definition of Strategic management: A strategy is a set of related actions that managers take to increase their company’s performance. For most, If not all, companies, achieving superior performance relative to rivals is the ultimate challenge. Mean by Strategy: Strategic management, a central objective of strategic management is to find out why some organizations succeed […]
How Employees Learn Organizational Culture ?
How Employees Learn Organizational Culture ? Each of us has a unique personality – traits and characteristics that influence the way we act and interact with others. When we describes someone as warm, open, relax, shy, or aggressive, we’re describe personality traits. An organization, too, has personality, which we call its culture. And that culture […]
Industry life cycle – Full Meaning and Explanation :
Meaning of Industry Life cycle: Industry life cycle is an industry can be defined as a group of companies. That offering products or services that are close substitutes for each other. Changes that take place in an industry over time are an important determinant of the strength of the competitive forces in the industry. The […]
Corporate Level Strategy of Strategic Management
Corporate Level Strategy : Corporate level strategy involves choices strategic managers must make. (i) deciding in which businesses and industries a company should compete. (ii) selecting which value creation activities it should perform in those businesses. (iii) determining how it should enter, consolidate, exit businesses or industries to maximize long term profitability. When formulating corporate […]
What is Strategic Management Process ? Important 5 Steps
Definition of Strategic Management Process : Strategic management process is by which managers formulate and implement strategies. We consider what might be described as a typical, formal strategic planning. A Model of the Strategic Planning Process: The formal strategic planning process has five main steps – The task of analyzing the organization’s external and internal […]
Who is Strategic Leader ?
Strategic Leadership Strategic Leader is one key strategic role of both general and functional managers is to use all their knowledge, energy, and enthusiasm. To provide strategic leadership for their subordinates and develop a high performing organization. Several authors have identified key characteristics. key characteristics of strong strategic leader that lead to high performance: Vision, […]
What is Perception ? Meaning of Perception :
What is Perception ? Perception is process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment. Factors That Influence Perception: Attribution Theory: Why when we observe people, we attempt to develop explanations of why they behave in certain ways. Our perception and judgment of a person’s actions, […]
What is Personality ? Full definition and Explanation
What is Personality ? Personality indicates human specific character. When we talk about personality, we don’t mean that a person has charm, a smiling face, and a positive attitude toward life. When psychologists talk about personality, they mean a dynamic concept describing the growth and development of a person’s whole psychological system. Definition of Personality: […]
What is organizational structure ? Full Meaning and Explanation of Organizational Structure
What is organizational structure ? Organizational structure defines how job tasks are formally divided, grouped, and coordinated. There are six elements that, managers need to know when they design their organization’s structure. Work Specialization: The term work specialization or division of labor to describe the degree to which activities in the organization are subdivided into […]