Strategic Management Aspects Of Operations Management Essay

Strategic management of demand Evan Bledsoe BUS! 310 Prof. Jeannine Bennett Liberty Online 12/12/2016 STRATEGIC MANAGEMENT ASPECT OF OPERATIONS MANAGEMENT Introduction Strategic management is majorly the work of the highest-level management which involves perpetual planning and implementing objectives of an organization in line with its resources and taking in consideration areas of competition such as internal and external environment (Pearce, Robinson Subramanian, 1997). Strategic management occurs in four levels: analysis, formulation and implementation and execution of strategies. Analysis of strategies This stage involves scanning the environment to know what affects the company both internally and externally in terms of trends in the industry and relationships within the company so as to make decisions on the future paths of the company (Pearce, Robinson Subramanian, 1997). Internal analysis involves the relationships among the internal players. It scrutinizes how employees relate with their colleagues, how employees relate with their managers, how managers relate with employees, shareholders, directors and other managers as well. External analysis is crucial because environment constantly changes and the players in the industry often come up with new strategies that might make other activities obsolete (Pearce, Robinson Subramanian, 1997). There are two perspectives that can be used in strategy analysis. The first one involves the use of SWOTShow MoreRelatedRole Of Managerial And Managerial Accounting1029 Words   |  5 Pagesfar back as the 19th century. Service and production operations during the days of the industrial revolution were not nearly as sophisticated then as they are today. The current initial purpose of managerial accounting is comparable to its purpose throughout history. 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