We can define Strategic management as the process of ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in social, political and business environments will require organizations to constantly assess their strategies for success. The strategic management is a continuous process that helps organizations to analyze their present situation, formulate strategies, implement them and analyze the effectiveness of the applied management strategies.
Strategic Management is all about identification and description of the strategies that officers and managers can carry so as to achieve better performance and a competitive advantage for their organization. Strategic management can be called as one of the most important part of management as the implementation of successful strategies decides the result of an organization’s performance.
Strategic Management is applicable to both small as well as large organizations as even the smallest organization face competition and, by formulating and implementing appropriate strategies, they can attain sustainable competitive advantage. This is how the strategist sets goals and works towards achieving them. It deals with making decisions and implementing decisions about the future direction of the organization. This helps us see where the organization is heading. Moreover, Strategic Management gives a broader perspective to the employees of an organization and they can better understand how their job fits into the entire organizational plan and how it is co-related to other organizational members.
The Strategic Management course will be treated as an extended course of Policy Analysis Course conducted by BIGM. Bangladesh is now on the highway towards prosperity. Bangladesh has already set its goal for achieving Vision 2021, SDG 2030, Vision 2071 and Delta Plan 2100. To accomplish these dream trajectories, each organization, division and Ministry should prepare a strategic plan of its own to maximize the desired output of their own organization.
Strategic planning and management have gained widespread acceptance in the last fifteen years as means of improving public policymaking and administration. Governments and public sector organizations all around the world have grown to reply on them. Those involved in public administration in any kind of form, whether as a politician, a competent civil servant or a public or private manager, must understand and be able to apply them. This course examines both the theory and practice of strategic planning and management in public and private sectors.
BIGM sincerely hopes that the strategic management program will provide a foundation for strategic planning and management, strategic decision making, strategic reforms of public services, and developing effective strategies for policy formulation, analysis, evaluation, and advocacy strategies. And the participants would be able to discover, analyze and forecast strategy design, execute, evaluate the strategy and hence, ensure the effectiveness of policies. As a result, the bureaucracy would be infused with the vitality, strategic initiatives for innovation, and analysis, making it more responsive to the complicated world.
Even after the indetification of the best alternative policy options, a critical strategic role has to be played by the leader of the organization for having optimal output or benefit from the policy. With a view to achieve that, the key players of the organization should develop a strategic plan through again making an analysis of the concerned key stakeholders and internal and external scanning of the environment committing and utlizing appropriate resources for the execution, monitoring and evaluation of that plan for achieving the desired goal. Otherwise, it is not possible to achieve the benefit from the policy that has been formulated so rigorously.
In the above context, Startegic Management Course has become very important for the participants from both the public & rpivate sectors. Nowadays, strategic management are also being practiced by the national governement across the globe to achieve national goals.