Explore More MBA Colleges Here
Explore More Topics Here
MBA in Leadership and Management
STRATEGIC MANAGEMENT.
Strategic management is all about planning and guiding an organization so it can reach its long-term goals. Think of it like creating a map for a journey, where you decide where you want to go, how you’re going to get there, what you’ll need along the way, and how to deal with any obstacles that might come up. It includes making important decisions about the organisation’s direction, setting goals, planning how to use resources like people and money, and making sure everything stays on track.
A key part of this is strategic planning, where businesses look at current challenges, choose the best plan of action, keep track of progress, and make changes if things aren’t working as expected. One common tool used here is SWOT analysis, which helps the company understand its strengths, weaknesses, opportunities, and threats.
There are two main ways strategic management is used. One is prescriptive, which means the company plans everything in advance (like a top-down approach). The other is descriptive, which is more flexible, strategies are tried out, tested, and improved over time, Strategic management also comes in different types:
● Business Strategy
● Operational Strategy
● Transformational Strategy
The main benefit of strategic management is that it gives everyone a clear direction. Leaders and employees know what they’re working toward, which helps save time, money, and effort. It can also bring financial gains, such as increased profits and better market position.
In an MBA specialization in Strategic Management, students learn how to build and implement strategies for business success. This includes learning how to analyze the market, allocate resources wisely, lead teams through change, and measure performance. These skills prepare students for leadership roles like Strategy Manager, Consultant, or General Manager in top companies.
Explore More MBA Colleges Here