STRATEGIC MANAGEMENT AND IMPLEMENTATION,
ITS INTERNALIZATION BY EMPLOYEES: BP TURKEYCASE
SUMMARY
Business world is such a competitive environment for most of the organizations. They have to find a way of differentiating themselves from others, fasten management process, predict future and try to gain comperative advantage. Strategic management and implementation of its strategies is the way to achieve this. In this paper, literature regarding strategic management and implementation processes is given. Concepts related to strategic management and implementation are also discussed.
After that, BP Turkey case is examined in order to determine whether or not employees understand strategic management and implementation process and how this effects
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The responses of 131 people out of 258 BP employees from different departments revealed that:
8. CONCLUSIONS AND RECOMMENDATIONS
In conclusion, for an organization to achieve its goals, strategic management is a crucial element which makes it possible to be aware of external threats, to have an improved understanding of competitors’ strategies, increased employee productivity, reduced resistance to change and a clearer understanding of performance–reward relationships.
Implementation of strategic management principles makes the role of employees more important, as they are the cornerstone for company’s operations. In order to implement strategic decisions effectively and gain comperative advantage in the market, employees have to internalize and contribute to this process.
The questionnaire carried out to explore whether BP’s strategic management is understood and implemented by BP Turkey’s employees revealed the same results.
Out of 258 employees 131 participated in the questionnare study. Questions regarding BP’s strategic management program were directed to them. Within 131
See Chapter 1, Exhibit 01: Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages:
"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are
What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness
The strategic process has been from its roots focused on the formulation and as a result the research on implementation strategy is probably about twenty years behind that of its counterpart. The early writings on strategy focused on the senior manager or CEO within the organization as a driver of strategy. These writings saw the formulation stage as the role of the CEO while implementation was that of the middle manager. By separating
Execution of a strategy allows an organization to identify a strategic manager or management team who will be responsible for five key components: people, resources, structure, systems and culture. The role of the strategic manager or management team is to implement and monitor performance and report to company stakeholders on the status. Because strategy drives an organization’s success, the team should select managers who can aggressively drive the objectives to achieve desired results through three actions:
‘Strategic Management’ is a very complex term as many eminent researchers and scholars have had different views and conclusions on strategy. According to White (2004), “Strategic Management involves both systematically developing an idea together with its implications and testing the empirical validity & usefulness of that idea against the real world.” Thus strategy is not only about planning for future but also about confirming the validity of the hypothesis considered and implementing it successfully. Strategy formation may take various forms such as implicit, explicit or emergent. Implicit strategy is a strategy formed by intuitions of an individual. As per implicit strategists, strategic management is about reading the environment
Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually
Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.
There are three factors that can be affected by this strategic implementation which are, communication, decision making, and coordination among the different teams in the company. The employees behaviour is expected
This essay will look at strategic management processes and how they can be used to improve organisational performance; it will also describe
Strategic management is a blend of strategy formulation and strategy implementation and together, they provide an overall direction of the organization. It is the highest level of managerial activity, usually performed by an organization’s Chief Executive Officer (CEO) and the leadership team.
When we talk about the strategic management practices of organisations, it is first necessary to understand what strategic management is. It is considered that organisations exist for a purpose and this purpose is well stated in the organisation’s mission statement. A strategy refers to the plans made by management of an organisation to develop and sustain competitive advantage so that the organisation’s mission is accomplished. Strategic management is a process by which the management analyses the environment in which it is operating before even making the strategy and then makes a plan for implementing and controlling the strategy after it is made for
Throughout the world of business, effective strategic management remains increasingly important; well defined managerial strategic decisions and actions can prove crucial in order to determine overall long-term success for a business. (Hunger & Wheelen, 2006)
First core elements is strategic management. Strategic elements can be explain as the effective action and tight connection of organizational priorities and initiative process enable continual to improve business performance. The organization’s overall approach towards BPM had been captures by a strategy driven
The strategic management process is sometimes improperly perceived as a unidirectional flow of objectives, strategies and decision parameters from management to the employees. In fact, the process should be highly interactive since it is designed to stimulate input from creative, skilled and knowledgeable people working at every level of the business.