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MGT503-Princilpes of Management-Lecture Handout No 26

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STRATEGIC MANAGEMENT - II

THE STRATEGIC MANAGEMENT PROCESS

The strategic management process is an eight-step process that encompasses strategic planning, implementation, and evaluation.

  • The first step is identifying the organization’s current mission, objectives, and strategies.
    1. Every organization needs a mission, which defines the purpose of the organization. What is the organization’s reason for being in business?
    2. It’s also important to identify the organization’s current objectives and strategies, as well.
  • Read more: MGT503-Princilpes of Management-Lecture Handout No 26

MGT510 - Total Quality Management - Lecture Handout 30

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Creating Business Excellence

Before we look at excellence models, let us see why sometime these initiatives fail.

There are many reasons for Quality Programs failures, including the following:

  • The efforts were too narrowly focused, as with statistical applications on the shop floor.
  • The efforts were mis-focused, limited to improving only “quality of work life” issues for employees rather than also addressing issues of strategic concern.
  • The managers relied on traditional methods and assumptions, ad were not equipped with the right tools, techniques, and theory to improve quality.
  • The managers were too focused on tools and techniques, and did not understand how to transform themselves, their employees, and the organization.
  • The managers were too impatient, with a short-term focus, and unwilling to stay the course, overcome initial barriers, and wait for long-term gains.
  • The managers never care for the culture change in organization.

Read more: MGT510 - Total Quality Management - Lecture Handout 30