THE IMPACT OF STRATEGIC MANAGEMENT ON ORGANISATIONAL PERFORMANCE
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- 1-5 Chapters
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- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
STATENMENT OF THE PROBLEMS
Those engaged in strategic management practices need to be aware of certain often,organization’s external environment poses. externally imposed threats may stem from cheaper technologies, the advent of new substitute products, adverse economic trends restrictive government action, changing consumer va1ves and lifestyles, projection of natural resources depletion, unfavorable demographic shifts, n w sources of strong competition and the likes; such threat can be a major factor in shaping organizational strategy.
As it occurs with all management techniques, individual will need extensive training and refresher training to answer unforeseen questions that arise in response to implementation, conflict, confusion and chaos will prevail initially and for sometimes therefore, only individual learn how to do it and see its valve will the benefit of strategic management be realized.
In an empirical study noting e impact of strategic management on organizational performance, the m [or problems that are associated with bad performance and lack of strategic management can be highlighted below.
· Lack of internal career leader: A career system is necessary to focus individual attention on the strategic issues facing an organization over the long term. A long-term perspective induces organizational commitment and loyalty. It enables individuals and organizations to invest training and productivity improvements knowing that they will reap the benefits from that enhanced knowledge and technique.
· Lack of formal training system: the importance of training has been a Neglected area and too much of what goes on in today's organization requires specific adaptation. Therefore managers' functions is the development the people for future advancement.
· Lack of employee voice/participation: A theory of individual self- interest, which not only operates in terms of the economic market but with respect to socio-political values is primary an attempt to explain an organization survival.
· Lack of broadly defined jobs: problems arise when individuals are designed to jobs officially having lower grades, and a lower grade assignment might be seen psychological as a career setback.
· Lack of performance-based compensation: strategic pay requires that all decisions relation to compensation and benefit are designed to attracts, retain or motivate employees as such the entire organization rewards structure is designed to fully serve its mission or purpose.
In addition, strategic management remains undeniable considering the fact that resources are inadequate in scope, volume and composition to meet the varying wants of individuals. Organizations and society couple with the present rapid realization that the environment is increasingly becoming unpredictable where nothing has an air of certainty
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