Strategic management in an enterprise as the key to success?

Marketing strategy
Strategic management in the enterprise as the key to success

A well-thought-out and effectively implemented strategy allows you to gain a competitive advantage, sustainable revenues and higher profits. And although the strategy plays a key role, companies are not fully able to define it and apply it on a daily basis. What is strategic management in an enterprise? The result of this strategy is the implementation of a brilliant business plan. Thanks to it, we will not only achieve our goals, but also develop our activities in accordance with the emerging opportunities and opportunities. 

The starting point for strategic management in an enterprise is a vision that specifies the expected status of the enterprise. If it becomes the participation of employees and directs their actions so that they jointly achieve the planned goals, it helps to unite them in the name of shared values. What's more, it also motivates them to continue working and overcoming any problems. Therefore, the biggest challenge is not to formulate a vision, but to manage people in such a way as to enable them to jointly implement the strategy. 

The essence of strategic management in an enterprise 

To understand what strategic management is in a company, you first need to know its strategy. This is a general formula that defines how a company intends to successfully compete with other entities for market share and attract customer attention. It allows you to provide arguments for selecting a specific offer. 

An effective strategy is based on a bold vision of how a given company sees itself in the market and what goals it intends to achieve. It contains three elements: 

  1. Thinking means presenting an innovative, original, bold and inspiring idea that will allow you to effectively achieve specific goals. It's also bold marketing innovations and reacting to changing consumer trends.  
  1. An action that is created by precisely defined activities that bring the company closer to achieving its goal. Their selection should be dictated by specific needs and preferences target audience
  1. The process means a dynamic and flexible cycle of building relationships with the client, environment and employees, changing under the influence of emerging opportunities. 

Strategic management in an enterprise supports such functions as: planning, organization, motivation and control. It helps in solving problems related to the company's development, taking into account the prevailing conditions and the influence of the environment. It consists of three stages: planning activities, implementing solutions and supervising the effects. 

Basic assumptions of strategic management in an enterprise 

The target effect of implementing strategic management in an enterprise is the achievement of the best financial results, effective management of available resources and gaining a competitive advantage. We can do this in four ways. Competitive strategy can be based on: 

  1. proposing lower prices than the competition, 
  1. offering original and innovative solutions,  
  1. focusing on meeting the needs of a narrow niche of recipients (market, social or geographical), 
  1. using unconventional forms of marketing and promotion. 

If we want to prepare and implement a properly adjusted strategy, at the very beginning we must carefully assess the condition of our own company and the surrounding situation. We have to look closely at the competition and the customers. This knowledge will allow us to make wise and objective decisions and set clear, bold, measurable and realistic goals. 

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How to manage effectively? 

Strategic management in the enterprise is based on the collection and sustainable use of key resources. Which are these? We must really define everything that pushes the company forward. Your products or services should meet the actual, critical and urgent needs of your potential customers. And the offer should be significantly different from the competition. 

The effectiveness of strategic management is determined, inter alia, by the process of information exchange and cooperation between all departments and decision-making levels, as well as the involvement of employees in the preparation and implementation of the strategy.

The strategy is based on clearly defined goals, while the flexibility of strategic management itself is about adjusting methods of operation that may change under the influence of external and internal conditions. The strategy focuses on the long-term development of the company through process improvement and implementation of innovative solutions. 

The process of implementing strategic management in the enterprise

Implementing the company's strategy is a never-ending process that consists of five basic steps: 

  1. Preparation of a strategy statement that sets the vision, mission, specific framework and goals of competition with other entities on the market. 
  1. Identification of target groups, including a thorough analysis of the needs and preferences of potential customers and recipients of marketing messages. For this it is essential communication strategy. Our goal is to find and use the right bait to catch their attention and to be present and active wherever they spend their time. 
  1. The use of all methods to gain a competitive advantage and the attention of potential customers, thanks to an original approach, innovation and proposing added value. To create an original offer, you need to get to know your potential customers thoroughly, but most of all the product or service you are offering. Do you know how customers use your product and which features make it more attractive? Consider ways to make your offer more attractive (e.g. change of packaging, unusual dimensions, innovative manufacturing technology, original materials). 
  1. Preparation of an appropriate sales system, i.e. finalization of the purchase process. Consider the types of advertising you will use to ultimately motivate your audience to buy. 
  1. Maintaining proper customer relationships through an effective after-sales service model. Thanks to well-trained direct customer service employees and motivating loyalty programs, you are able to build strong and lasting relationships with customers who will be loyal to your company and will be happy to recommend your offer further. 

 If you have a strategy, you are in the game, but it is not enough to count on winning. Incorporating it perfectly into life is no less important. By observing the market, you can see that an imperfect strategy, but flawlessly implemented, has more power than a great strategy carried out haphazardly. 

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