Implementation of Strategic management in public, third and private organizations
Strategic management in every business organization involves the invention as well as implementation of the main goals plus all the ingenuities taken by the organization’s top management on behalf of ownership based on consideration of resources. Strategic Management is all about the identification as well as description which the management carries with an aim of achieving better performances (Tom 112, 2014). Organizations consider Strategic Management at all points since it ensures that the business has a comprehensive collection of on-going activities as well as processes used in conducting and aligning all the resources and activities systematically. Strategic Management is applicable in the private sector as it is in the public sector simply, because its essence is how the organization adds value to the product as well as services (BRYSON 56, 2011).
In the private sector, stratagem is use as the major element in defining organizations purposes especially which leads to generation of principles. In the private sector formulation of strategies majors on how the business has been set on accomplishing generation of principles taken into justification (LØWENDAHL 159, 2015). The only difference of strategic management in private sector over public sector is that its countenance of values can be expressed in various either as making the world better plus more endurable. The above question implies that the public organization has got a major obligation to rethink on the major perspectives in terms of competitions as well as other competitive advantages. However, it has to volte-face in terms of invention plus inexpensive advantage (NUTT, P. C., & BACKOFF 213, 2012).
Public organizations are encountered with several challenges which are mainly brought about by pressure from the rule making bodies. However, on the private sector there is no interference with the federal state thus; no countless variation on how it operates and it makes it easy for the strategic management in generating more proactive as well as reactive in shaping the organization’s future (HARVEY & HARVEY 169, 2008) .The business have to re-think of the imminent with the aim of enlarging its ability as well as skills of estimating what its changes will make to the organization. Unlike in private sectors, in the public sector strategic management forces it in setting its goals as well as measurement of success whereby; the measurement of realisation requires the business to recognize various critical activities (RAO & SIVARAMAKRISHNA 234 2008).
Strategy enactment allows the business to examine results of various activities. The management enables all organizations either public or private set its financial ratio thus providing a statement of the balance sheet (Peter &James 64, 2015). It is the strategic management which ensures that all the financial budgeting in the organization does not place any thought of restraining the expenditure, rather procurement of the most crucial assets in the business (SEKHAR 72, 2013).
Strategy is as important in not-for-profit organizations as it is in business firms thereby; it only requires the business to anticipate the future environment in order to develop various plans plus, prediction of future surrounding (JAUCH & TOWNSEND 234, 2010). Strategic Management is applicable in the private sector as it is in the public sector simply, because its essence is how the organization adds value to the product as well as services. In the all the organizational sectors the strategic management provides an overall directions in meeting all the enterprises involved in specifying the business objectives. Organizations consider Strategic Management at all points since it ensures that the business has a comprehensive collection of on-going activities as well as processes used in conducting and aligning all the resources and activities systematically (COLE 68, 2009).
References
RAO, C. A., RAO, B. P., & SIVARAMAKRISHNA, K. (2008). Strategic management and business policy: texts and cases. New Delhi, India, Excel.
COLE, G. A. (2009). Strategic management: theory and practice. London, Thomson Learning.
SEKHAR, G. V. S. (2013). Business policy and strategic management. [S.l.], I K International Publi.
BRYSON, J. M. (2011). Strategic planning for public and nonprofit organizations: a guide to strengthening and sustaining organizational achievement. http://www.dawsonera.com/depp/reader/protected/external/AbstractView/S9781118049938.
NUTT, P. C., & BACKOFF, R. W. (2012). Strategic management of public and third sector organizations: a handbook for leaders. San Francisco, Jossey-Bass Publishers.
HARVEY, D. F., & HARVEY, D. F. (2008). Strategic management and business policy. Columbus, Merrill.
JAUCH, L. R., & TOWNSEND, J. B. (2010). Cases in strategic management and business policy.
HALACHMI, A., & BOUCKAERT, G. (2011). Public productivity through quality and strategic management. Amsterdam [etc.], IOS Press
Peter Smith, and James L. Perry. (2015). "Strategic Management in Public and Private Organizations: Implications of Distinctive Contexts and Constraints." Academy Of Management Review 10, no. 2: 276-286. Business Source Complete, EBSCOhost (accessed October 30, 2016).
Nartisa, Ieva, Romans Putans, and Tatjana Muravska. 2012. "STRATEGIC PLANNING AND MANAGEMENT IN PUBLIC AND PRIVATE SECTOR ORGANIZATIONS IN EUROPE: COMPARATIVE ANALYSIS AND OPPORTUNITIES FOR IMPROVEMENT." European Integration Studies no. 6: 240-248. Business Source Complete, EBSCOhost (accessed October 30, 2016).
Oblak, Renato, Ante Bistričić, and Alen Jugović. 2013. "PUBLIC-PRIVATE PARTNERSHIP - MANAGEMENT MODEL OF CROATIAN SEAPORTS." Management: Journal Of Contemporary Management Issues 18, no. 1: 79-102. Business Source Complete, EBSCOhost (accessed October 30, 2016).
Robert .M.Grant. 2013. Contempolary Strategy Analysis. University of the West of Scotland. Realease 2013.
ORCULLO, N. A., JR. (2008). Fundamentals of strtegic management. Manila, Philippines, Rex Book Store
LØWENDAHL, B. (2015). Strategic management of professional service firms. Copenhagen, Copenhagen Business School Press.
Tom Keegan. (2014).Influencing Organizational Strategy.Ubniversity of The West of Scotland, Workbook
