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Strategic Management Consulting & Support Services
Strategic management is described as that set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environment scanning (both external and internal), strategy formulation (strategic or long-range planning), strategy implementation and evaluation and control. The study of strategic management, therefore, emphasises the monitoring and evaluating of external opportunities and threats in the light of a corporation’s strengths and weaknesses. The benefits of strategic management can be summarised as:-
- A clearer sense of strategic vision for the firm
- Sharper focus on what is strategically important
- Improved understanding of a rapidly changing environment
Effective strategic planning seeks to provide answers to the following critical questions:-
- What business are we in today?
- What business should we be in?
- What will happen to our business if no major changes are made?
- What changes are necessary to be in the business we should be in?
- What are the risks and payoffs involved?
Within this area of involvement, CREDAL Business Consulting acts as a catalyst within the client firm to assist in the development of an on-going strategic planning process. The focus in such assignments is not the development of the strategic plan itself. This is seen merely as a means to an end. The detailed strategic plan is compiled to document the progress and thrust of the strategic planning initiatives. Yet, the focus throughout remains on the viability of the implementation of the plans being developed.
Consequently, the main objective is to establish and fine tune the internal systems and procedures which allow for an on-going evaluation of market opportunities and threats within the perspective of the strategic direction established. The development of planning units within the organisation and the development of an integrated planning process remains one of the most effective tools every organisation has to combat uncertainty in the markets. The involvement of CREDAL Business Consulting in this crucial aspect of long term planning is to ensure that the most suitable framework is being used and that this is practical enough to provide the information required for management decisions.
Through a series of management workshops and seminars, the concepts of integrated company planning are promoted throughout the organisation. Once there is a clear understanding of the role of planning in the organisation, planning units are then established. Planning frameworks are then developed, planning horizons defined and resources allocated to the planning process. Only then can the feedback of the planning process serve as a valid foundation for management strategic plans.