Written by:Diomer Antonio Galán Rincón.
Bachelor's Degree.Public Accounting / MSc.Science of Higher Education.
Author: @dgalan,through Power Point 2010 tool, and using public domain image Pixabay
The current Venezuelan economic reality has led the country's business system to times of crisis with decadence in the areas of production, purchasing, storage, sales and marketing, which makes it necessary for them to be prepared for continuous changes, with elasticity in their functions and structure, aimed at enriching management skills and leading the organization to a comprehensive administration and consolidate the competitiveness of the company with the knowledge, skills and application of more effective methods.
It should be noted that the economic consequences that the business system is going through have caused countless companies to close their doors, not only because of the constant increase in prices, but also because they do not have management strategies that would allow them to mitigate this situation; however, some companies have sought ways and plans to counteract the adverse effects on business success.
Despite this, other companies continue to struggle with the lack of knowledge of alternatives to weaken the reality and are projected to decline in a short time in the competitive market.
Image taken from:Pixabay
Therefore according to Figueroa (2004) defines strategic direction as "a process of continuous and systematic movement that provides better guidance to the entire organization on the crux of what it wants to achieve, making managers more alert to the winds of change, new opportunities and threatening developments, providing ideas for evaluating budget requests, capital investment and new personnel, allocating resources in areas that produce results and support strategy, helping to unify the many strategy-related decisions throughout the organization, creating a more proactive management attitude and thereby counteracting tendencies toward reactive and defensive decisions.".
Therefore, strategic management is made up of a series of decisions and actions aimed at planning, formulating and implementing specific strategies that will allow the organization to adjust to its environment in a superior competitive manner, and thus achieve the established objectives and goals.
I hope you like my article and I would appreciate all your comments.
bibliography consulted:
Hi @dgalan
In times of crisis such as those that the world is currently experiencing, strategic management is definitely the best tool to achieve the resilience of organizations.
Excellent article, thanks for sharing.
Regards.
Greetings @ janettyanez Certainly companies must be continuously adapting to changes and strategy management is fundamental to be able to face them.
Thank you very much for your comments and support.