Research Paper On Components Of A Strategic Management Process

Strategic management involves coming up measures that ensure a business or organization continues to operate competitively. The application of various moral values in management has been described as one of the most important aspects of strategic management. This paper will briefly discuss some of the important aspects of strategic management.
Moral responsibility is one of the values that has been described as an important factor towards the achievement of strategic management. The application of moral responsibility in management involves the formulation of strategies that cater for the interests of all the stakeholders of an organization.
Managers in various organizations have also been advised to always apply the use of ethical reasoning whenever they are formulating strategies for their business. This, therefore, means that all business managers should always strive to come up with strategies that satisfy the various codes of conduct that exist in the society in order to ensure that all individuals in their internal and external environment, support the activities of the organization.
Strategic managers are also required to have the ability to predict operational environment that the business may experience in the future. This will ensure that managers are able to come up with strategies that enable them to stay ahead of their competitors since they will have come up measures that will enable them to mitigate any future eventualities.
The nature and quality of leadership offered by a manager also acts as an important determinant of whether a manger will be successful in managing his/her organization strategically. In order for a manager to portray strategic leadership, he/she must ensure that the entire organization works towards the achievement of the organization’s goal as well as ensuring that the organization it is portrayed in the organization’s structure. Organizational leaders are also required to ensure that the organization upholds high integrity standards and the ability to manage internal conflicts amicably.