Strategic Management Essay Example | Topics and Well Written Essays - 1000 words - 5

Strategic Management - Essay Example With this concern, the prime target of this paper is to determine the significance of research based view for strategic management. This study would provide a brief overview about the conception of strategic management and its importance. Moreover, the role of strategic management in helping a university in the quest for competitive advantage and the illustration of certain real as well as relevant examples would also be discussed in this paper. Importance of Resource Based View for Strategic Management In order to determine the significance of resource based view particularly for strategic management, it can be stated that resource based view can be duly considered as one of the perspectives that provide a rationale concerning how the different facets of human resourcess (HR) support an organisation to accomplish a greater competitive advantage (Cornell University ILR School, 2001). According to the resource based approach or view, the characteristics of the employees seem to be cri tical issues in the arena of strategic management. ... Research-based view of strategic management gives a clear idea of why different sorts of HR practices lead towards raising competitive advantage of a particular firm (Von Pock, 2007). Conception and Importance Of Strategic Management The conception of strategic management is regarded as an effective and significant management tool which supports an organisation in performing better job tasks (Analoui & Karami, 2003). There are different models or procedures that are used in the strategic management process of any particular organisation. In a similar regard, the procedures comprise identifying, analysing, formulating the recognised problems in a more descriptive way and finally evaluating as well as providing solutions to mitigate the problems identified. In order to determine the significance of strategic management, an organisation can achieve its expected business targets through proper conduct of strategic management. In the context of strategic management, mission as well as vis ion represents the fulfilment of organisational objectives. Moreover, the notion of strategic managements provides a clear idea about the strategic mission and vision of an organisation. Through the approach of strategic management, an organisation can properly identify its strengths along with weaknesses. The importance of strategic management is that it allows an organisation to be more active in performing various operational functions. For various organisations, it is quite necessary to implement a proper strategy because it helps them to comply with the requirements of the customers and most significantly to mitigate any sort of problem or complexity. The aspect of strategic