Strategic management is the comprehensive organization of ongoing activities used simultaneously to coordinate and align resources and actions so as to realize a set mission, vision, and strategy in a systematic way(Sadler, 2003). In our day-to-day lives, there are many decisions that we make that reflect how good or how bad we are at the organization. Resources at our disposal require management so that they can yield maximum utilities. This however requires careful allocation of them all so that we end up with a well-rounded outcome.
Through strategic management, one gets exposure, versatility, and skills to tackle different issues at a wider scale hence increasing the career environment and options it also helps one access his or her strength and weaknesses, this will make your plan predictable and unforeseen contingencies.
Basic financial planning helps one as a company owner budget for company expenditure hence creating great support in the growth of the company through the creation of growth targets and productivity hence helping one attain sustainable competitive advantage.
Strategic planning helps in the understanding of the business market improving productivity. This is because all resources are put to the right use depending on the market demands hence they yield maximum. At my workplace, I take extra training for managerial positions. This earns extra money and extra skills that put me on a better competitive edge with my fellow workers. In the future turn of events, a better career is promising. This is a self-motivating way to better me and want more than a mediocre lifestyle. It is the desire of every individual to have an image in society(Sadler, 2003). With a well-laid strategic plan, society has greater chances of growth. Giving back to society enables an individual to make the necessary changes that may be valuable to society at large.
Decisions that are reliable are made by individuals who are well organized. Reliability is a very key requirement that enables thriving in the business sector. Often in accounting the balances do not add up mainly because of disorganization. This has cost many people and organizations their jobs. Well-laid priorities are easier to implement as they aim at achieving the ultimate goal set. Some decisions have long-term effects that are why it is necessary to be clear on a plan(Sadler, 2003).
A more flexible individual stands a better chance for stability. This is because they are not fixated on one idea but they have an alternative to look up to if their original plan fails. Being in control of one’s life gives one freedom to plan ahead without a plan one is faced with a panic situation that leads to total breakdown and disappointment. It keeps an individual always a step ahead of the competition. Planning creates an integrated approach to handling issues that one may face. It basically leads to the idea of having different ways of accomplishing a task regardless of any shortcomings that may befall. Unity in ideas and organization of activities ensure things in a career run in an upgrading manner(Sadler, 2003). With planning comes evaluation and control. Evaluation helps show the progress of the individual in their career and also their total well-being. All these put together drive at the achievement of the desired results.
Sadler, P. (2003). Strategic Management. New York: Kogan Page Publishers.