The process of using human, financial and technical resources for achieving organizational goals while considering a variety of environmental variables is called Strategic Management. In addition to this, the process of sharing the strategy, staff, styles, structure, skills, succession, systems, goals and values is another facet of Strategic Management. According to research it is evident that the top level of a firm focuses more on the strategic management. Renovating the organizational goals into real life contexts is the significant issue faced by many organizations in planning the strategic management. The organization cannot be maintained if it does not have proper strategy, as a result the position of the organization and its future statues is not known to the management.
So a strategy is necessary for all organizations irrespective of their size, small or large. A strategy can build a path for the success of the organization by using the known motives and directions. The organization gets developed using a structure in order to estimate its position in the business market. The manager of the organization should be responsible for the development of the organization and so he should be assure that the organizational roots or origins are reached by all the strategies of the organization especially for satisfying the goals of an organization. The process of developing a strategy involves few individuals commonly managers and this process is called “Strategic Alignment”.
Understanding these strategies is necessary for employees because if the better the strategies are known, the better the performance. The organization must be careful in developing a clear strategy because if the strategy is clear for the employees then they can understand it clearly and as a result the aim of the organization will be clear for them and then they can work for the organization in such a way that they can satisfy the desired aims and goals of the organizations. If in case the organization fails to have a clear strategy then they will also fail in satisfying their required aims and goals.
That means the success of an organization is purely based on the strategy it is having. The implementation of the strategy also plays a major role in achieving the desired goals. Hence it is proved that a clear strategy can be created clearly by the top level management of the organization or middle order managers. It is also evident that understanding of the strategy by the employees is essential for the development of the organization and without such an understanding the organization cannot even move a single step towards achieving its goals.
According to various researchers there are different approaches to strategic management. An organization uses a strategic management process in any of the approach but with a common aim to achieve success for the organization by handling situations like internal problems in the organizations, heavy competition and also when unexpected situations threaten the company’s position in the competitive business market.