Strategic managment :

Intrudation :

Strategic Management is about the strategies that managers carry to achieve better performance.
Study in detail about Strategic Management Concepts, Strategic Decisions, Strategy Statement etc.

A strategy is all about integrating organizational activities and utilizing and allocating the scarce
resources within the organizational environment so as to meet the present objectives.

Strategic Management Process :

Strategic Management Process means defining the organizations strategy. Strategic management
process consists of four components - Environmental Scanning, Strategic Formulation, Strategy
Implementation and Strategy Evaluation .

1. Environmental Scanning :

Environmental scanning refers to possession and utilization of information about occasions, patterns,
trends, and relationships within an organizations internal and external environment

2. Strategy Formulation :

Strategy formulation refers to the process of choosing the most appropriate course of action for the
realization of organizational goals. The process of strategy formulation basically involves six main
steps.

3. Strategy Implementation :

Strategy implementation is defined as the manner in which an organization should develop and
utilize organizational structure, control systems, and culture to follow strategies that lead to
competitive advantage and a better performance.

4. Strategy Formulation vs Implementation

Strategy Formulation includes planning and decision-making involved in developing organizations

strategic plans whereas Strategy Implementation involves all those means related to executing the
strategic plans.

5. Strategy Evaluation

Strategy Evaluation is as significant as strategy formulation because it throws light on the efficiency
and effectiveness of the comprehensive plans in achieving the desired results.

6. Strategic Decisions

Strategic decisions are the decisions that are concerned with whole environment in which the firm
operates, the entire resources and the people who form the company and the interface between the
two.
Conclusion :

This provides an overview of strategic management and strategy. Ideas about strategy span many
centuries, and modern understanding of strategy borrows from ancient strategies as well as classic
military strategies. You should now understand that there are numerous ways to conceptualize the
idea of strategy, and that effective strategic management is needed to ensure the long-term success
of firms. The study of strategic management provides tools to effectively manage organizations, but
it also involves the art of knowing how and when to apply creative thinking. Knowledge of both the
art and the science of strategic management is needed to help guide organizations as their strategies
emerge and evolve over time. Such tools will also help you effectively chart a course for your career
as well as to understand the effective strategic management of the organizations for which you will
work.

2 budgt managment :

Intrudacsion :

Budgeting is an applicable concept in ensuring the effective running of a business organization and
provides an effective way of managing scarce financial resources within organizational settings. A
budget describes the financial plan for future activities. It entails preparing detailed projections of
future amounts . Most business organizations use operational and capital budgeting in computing
their financial resources. Based on the estimated feasibilities of values, they can be balanced,
surplus, or deficit budgets. Usually, time and money limit financial help to individuals and business
organizations; thus, efficient utilization and management of such resources are critical concerns to
business operations . Although planning is crucial in achieving excellent functionality, budgeting
remains one of the essential tools that corporate managers’ leverage to augment plans and control
organizational resources. In this context, a budget is a plan indicating the organization’s objectives
while showing how the top management intends to obtain and utilize various resources to attain the
set organizational goals and objectives.

The meaning of budgeting, also known as budgetary management, in business accounting is a

process of overseeing and tracking income and expenses. Businesses often have budgets for
individual departments plus an overall company budget, and managers are frequently responsible for
managing the budget for their department. Budgets typically have five aspects:

Revenue: This is income from sales, investments or other sources. All income should be recorded in
the budget, and you should always note whether it’s pre- or post-tax income, so it’s easier for your
company’s accounting department to handle business taxes.

Operating expenses: Operating expenses are the costs associated with running the department or
business, such as machinery upkeep, rent and utilities. Some of these expenses are fixed, like
insurance and licensing fees, while others are variable, such as marketing or research and
development costs.

Capital expenses: These are capital investments in the department or business. Capital expenses can
take many forms, such as a new building or upgrades to an existing facility. Other forms include
patents on new products and the development of new technology such as phone apps.
Employee expenses: These expenses typically comprise a large part of company, department and
project management budgets. They include any expenditures related to staffing such as wages,
employment taxes and health plans.

Savings: Just because your department has some extra money to burn doesn’t mean you should
allocate it. Holding money back for unexpected expenses, especially when you have a surplus and
don’t work with a lose-it-or-use it business, can help you stay prepared for future events.

Within these five categories, managers can expect to forecast expenditures for a year or other
predetermined length of time, using business budgets to track expenses and ensure the department
or company can cover its costs.

Conclution :

A budget describes the financial plan for future activities. Proper budget management also illustrates
the effectiveness of corporate leadership in directing, leading, and motivating team members to
attain desired goals and objectives—the budget system in the U.S. The legislative and executive
branches play critical functions in the budgeting process. The principle of separation of powers
makes budgeting in the U.S. Usually; public budgeting entails the selection of ends and the selection
of means to reach those ends. Therefore, providing a clear picture of how the organizations use the
available financial resources is critical. Public budgeting describes the selection of ends and means to
attain those ends. The budgeting process entails examining the existing programs and reducing or
reallocating financial resources to achieve improved efficiency in the management of public
resources . For instance, Trump’s administration proposed $94.4 billion for the defense budget.

3 Supply chain management :

Intrudacsion :

Nowadays, economy logistics and supply chain management have become crucial components of a
company’s competitive strategy. These practices were initially limited to contexts, where logisticians,
under Napoleon Bonaparte, were responsible, for overseeing troop accommodations The idea of
logistics has gone through changes becoming more extensive and encompassing economic activities.
It now involves the management of movements of goods, services, and essential information, from
the production site to the point of consumption. This makes it a vital component, for the functioning
of any organization.

Supply chain management (SCM) is the active management of supply chain activities to maximize
customer value and achieve a sustainable competitive advantage. It represents a conscious effort by
the supply chain firms to develop and run supply chains in the most effective & efficient ways
possible. Supply chain activities cover everything from product development, sourcing, production,
and logistics, as well as the information systems needed to coordinate these activities.

The concept of Supply Chain Management (SCM) is based on two core ideas:

The first is that practically every product that reaches an end user represents the cumulative effort of
multiple organizations. These organizations are referred to collectively as the supply chain.
The second idea is that while supply chains have existed for a long time, most organizations have
only paid attention to what was happening within their “four walls.” Few businesses understood,
much less managed, the entire chain of activities that ultimately delivered products to the final
customer. The result was disjointed and often ineffective supply chains.

The organizations that make up the supply chain are “linked” together through physical flows and
information flows.

Conclusion :

The relationship, between supply chain management and logistics, plays a role in the success of
organizations. Through this analysis, it has become clear that interconnectivity goes beyond linking
parts of the supply chain. Instead, it involves establishing a connection where each element enhances
efficiency, profitability, and competitiveness, for businesses.