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Strategic Management Essay

1201 words - 5 pages

Summary
In the domain of management, strategic management encompasses identification together with definition of strategies. Usually, managers employ these strategies to strive for high performance as well as competitive advantage for a business establishment. In this respect, strategic management draws higher profitability if well planned and executed. In addition to that, it includes decisions as well as acts managers set about, and which determines the outcome of the organization’s performance. Incisively, a science is whatever skill that manifests detailed use of facts for a particular purpose. Subsequently, art is clearly characterized as the skill critical for any human tasks. Not only is strategic management a behavioral science, but also is an art, since its application in the relative situations involve these two perspectives.
Introduction
Ordinarily, the main function of strategic management is to integrate diverse functional components of the organization wholly, as well as to make sure these functional aspects are in agreement. Basically, this involves application of scientific principles established in management and execution in artistic form of activities to meet desired goals.
Literature review
Strategic management as a science
Generally, science is a taxonomic collection of knowledge about a particular area of study, which is universal features which define a remarkable development. It simply sets up cause and effect connection among two or more factors, and emphasizes the rationale of the relationship. These principles are spring up from scientific methods such as observation along with verification by means of testing. Specifically, a number of features measure science. One is cause coupled with effect relationship. Indeed, principles of science institutes cause as well as effect relationship amidst a number of variables. With reference to strategic management, the same principles exist. For instance, cause and effect relationship where lack of stability in authority and responsibility, leads to ineffectiveness. Second is examination of validity as well as predictability of the subject under consideration. In essence, legality of scientific standards is proved at any convenience. It is important to note that, each test will give similar result. Furthermore, scientific management principles can also be examined for validity by use of standards like unity of command through comparison of two persons.
Thirdly, generally accepted principles involve scientific standards which signify basic truth of a specific area of enquiry. Chiefly, these principles are relevant . In brief, strategic management encompasses some cardinal principles for instance the principle of unity, which are used worldwide. Finally, experimentation together with observation is involved which basically makes up thorough scientific look into a field under consideration. Similarly in strategic management, principles founded on scientific research...

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