Strategic management

Strategic management Management means manage and past tense of mend which emphasizes the resources should be ready to use. Manage means to operate with justified utilization of resources for profit maximization and growth. The organization may be profit-making or nonprofit making. If we disintegrate the word it will mean manage, me, n and t that enforces everybody‘s contribution and team spirit (forming, storming, norming and performing). It also means man, age, me, n and t that include experiences/ ego state in workers. All the organization operates in business wheel, hierarchy intent and system management. The business wheel concentrates on resources (7MsMoney, Machine, Materials, Manpower, Methods, Minutes & Meters), production, distribution and sales & marketing. Hierarchy intent encircles around vision along with mission, SBU, goals, objectives, policy, procedures and program. And budget. According to strategic System Management, strategic input is processed (strategic actions) for the output (products and services) with proper, constant and continuous feedback (information provision like nervous system) to take care of resource based internal environment (micro/ resources/ assettangibles and intangibles) and industry oriented external environment (PPolitical-legal, EEconomical, SSociocultural, TTechnological/ macro).