Paper Example on Importance of Strategic Management

2021-07-13 04:41:11
4 pages
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University of Richmond
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Management is an essential process in the running and operations of clubs. For instance, private golf clubs apply strategic management to ensure that it is successfully run and its operations maintained with minimum interruptions. Strategic management largely refers to those measures which a given manager can implement to register better performance. Good selection of strategies ensures that the club has the competitive advantage over their rivals in business (Daft 98). The profitability of the club would determine its competitive advantage over other clubs within the industry. Private clubs usually employ appropriate strategies to ensure that its operations are smooth. For example, the manager makes sound decisions and act in accordance with the policies to ensure better performance are realized.

For club management to be easy and efficient. The manager in charge of the daily operation of the business must have the vast knowledge of the business. Further, the manager must analyze the competitive environment upon which the business is run. This analysis can be achieved through the SWOT analysis. The club must be audited for its strengths, weaknesses, opportunities, and threats to guide the manager during decision-making. Beyond the analysis, the manager can make key decisions that ensure that the weaknesses are minimized, emerging opportunities in the market are utilized and any arising threats predetermined and addressed (Olsen and Zhao 106).

There are several benefits that are realized upon adopting strategic management in the running of clubs. Through strategic management, private golf clubs management can confidently plan for both unfeasible and predictable contingencies that may arise. Also, strategic management is important since it helps the managers to make sound decisions and guide them through the period of implementation. Evidently, the managers can comfortably define the state of the business and the direction towards which the club is headed.

Also, strategic management is essential for the club management since it allows for continuous assessment and controls the risks that the business is exposed to on a daily basis. The manager also gets to evaluate some of the competitors that the club has within the industry. The managers are also expected to set goals for the business through which they have to be achieved by following the company vision and mission (Schilling 142). Managers are expected to regularly evaluate the strategies being implemented so that they incorporate new strategies that previously had not been implemented. They can also replace strategies implemented and never worked for the success of the company.

Another importance of strategic management lies with the workers. The strategies applied in the management of a company usually gives a broad perspective of a company's employees. Through strategic management, employees possibly can understand their job specifications as well as how the tasks assigned to every employee can smoothly fit into the entire plan of the organization. Strategic management can also help managers to handle and control workers under their supervision (Schilling 142). By applying various strategies, employees can be easily management and their potential positively maximized. In this scenario, employees work hard towards achieving the objectives of the club. Proper management promotes employees good correlation with the organizational task assigned to them. Therefore, they constantly become trustworthy and completely committed to achieving the goals of the business.

Strategic management is usually essential to the running of the business in that it helps the management identify and understand any reaction that might arise due to environmental changes. By understanding the changes that arise, the management can come up with effective measures to address the changes that might be negative and harmful to the business (Daft 98). Strategic management also helps in ensuring that the positive results are well contained and do not stop the workers from conducting their daily responsibilities. Employees can also analyze the changes and judge their impact on the operations of the business as well as their tasks within the organization.

Strategic management also helps the management as well as the workers to play their roles in an efficient and effective manner. Majorly, strategic management also helps in completely incorporating certain functional areas of the business. The functional areas are then harmonized by the manager and fully bound together. Another role that strategic management plays sufficiently well is the monitoring and evaluation of the actions of workers within the organization (Vick 146). The management of the business requires setting up of the culture of monitoring, evaluating and finally reporting the activities to help for future reference.

In conclusion, those businesses that apply the concept of strategic management usually perform better than those who do not. Applying strategic management in club management helps in the proper management of the business. It also helps in motivating and building trust between the workers and the management.

 

Works cited

Daft, Richard L. Management. Thomson Learning/South-Western, 2003.

Olsen, Michael D, and Jinlin Zhao. Handbook of Hospitality Strategic Management. Butterworth-Heinemann, 2008.

Schilling, Melissa A. Strategic Management of Technological Innovation. 2017.

Vick, Alan. Air Power in the New Counterinsurgency Era: The Strategic Importance of Usaf Advisory and Assistance Missions. RAND Corp, 2006.

 

 

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