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Strategy Management Introduction Essay

1029 words - 5 pages

Section 5

Introduction to Strategic Management
Susan Scribner

Section 5

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Table of Contents
Figure 5.1. Facets of Strategic Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-2 Figure 5.2. Strategic Management of One Stage of the Policy Process . . . . . . . . . . . . . . . . . 5-4 Table 5.1. Five Facets of Strategic Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-3 Bibliography. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-5 Annex 5-A. Strategic Planning and Strategic Management . . . . . . . . ...view middle of the document...

Brinkerhoff (1991 and 1994) characterizes strategic management as looking out, looking in, and looking ahead. “Looking out” means exploring beyond the boundaries of your organization to set feasible objectives, identify key stakeholders, and build constituencies for change. “Looking in” implies critically assessing and strengthening your systems and structures for managing personnel, finances, and other essential resources. Finally, “looking ahead” entails melding your strategy with structures and resources to reach your policy goals, while monitoring your progress and adjusting your approach as needed.

5-2

Policy Toolkit for Strengthening Health Sector Reform

Balancing strategic management’s outward-, inward-, and forward-looking functions helps you develop a vision and a strategy for where and how to move health sector reform forward. Balancing these different perspectives is the essence of managing strategically (Brinkerhoff 1991). Strategic management comprises five key facets: goal-setting, analysis, strategy formation, strategy implementation, and strategy monitoring (see Figure 5.1). These are the integral elements that, when applied together, distinguish strategic management from less comprehensive approaches, such as operational management or long-term planning. Strategic management is an iterative, continuous process that involves important interactions and feedback among the five key facets, which are explained in more detail in Table 5.1.

Figure 5.1. Facets of Strategic Management

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Introduction to Strategic Management

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Table 5.1. Five Facets of Strategic Management
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