| What is it that drives some businesses downhill over | | | | are solely responsible for accomplishing a task will |
| the years, while others continue to grow stronger? | | | | make them feel like an essential asset to the team |
| What is the key to success? Some believe the | | | | Rewards. Providing recognition to employees for |
| solution is found in the process of strategic | | | | their performance and acknowledging their |
| management. This process gives direction to the | | | | contributions go a long way. Anything from a sincere |
| organization through a vision of the whole picture and | | | | "Thank You" to a cash incentive will let them know |
| objectives. This vision becomes a reality as a plan is | | | | their hard work is appreciated.This is a critical step for |
| developed and specific goals at all levels are identified. | | | | managers as they maintain the focus for their team. |
| The long-term success of an organization is attainable | | | | Managers are usually more familiar with the company |
| with strategic management but unless the necessary | | | | objectives and can use their understanding of the |
| support is used to carry out the plans, even the | | | | long-term objectives to make better decisions for |
| most effective planning efforts will under deliver the | | | | their employees and help with any obstacles that |
| results. When applying strategic management, you will | | | | might come up.MonitorSuccessful strategic |
| find success in this four-step process called FAME, | | | | management does not end at the conclusion of the |
| consisting of Formulating, Accomplishing, Monitoring, | | | | planning meeting or the beginning of the execution |
| and Repetition.FormulateThe first step of the | | | | phase. It continues day in and day out as each team |
| strategic management process determines the | | | | member carries out the plan's objectives. However, |
| destination of the organization. It is decided where | | | | implementing the plan will be much more effective if |
| the organization is now, where it wants to go, and | | | | periodic monitoring occurs. Monitoring is critical for |
| how it plans to get there. The executive team is | | | | measuring progress. It will ensure that the |
| largely accountable for developing the plan because it | | | | organization is on track to completing the plan and is |
| is their responsibility to create the course and | | | | accomplishing what was intended. The entire process |
| direction of the organization. Even though they | | | | of strategic management is dynamic and demands |
| develop the plan, every individual is responsible for | | | | continual reassessment. Even with the most |
| making it become a reality. The vision should filter | | | | comprehensible plan place, it is possible to lose sight |
| down through the levels to each individual so it is | | | | completing the intended objectives.RepeatRepetition |
| understood by everyone.Everyone must understand | | | | of the process is the difference between long term |
| that this plan is for every individual at every level in | | | | success and failure. With each repetition, the |
| the organization, not just the managers. To help | | | | organization will see improvements that can be made |
| make each person feel as if they are a contributing | | | | to the plan. For instance, existing elements will be |
| to the vision, goals must be set at all levels of the | | | | modified, new components may be added, and |
| organization, from company-wide objectives down to | | | | attention and resources may be redistributed. The |
| individual goals. Make sure each individual understands | | | | process of repetition will also affect individuals. As |
| their responsibilities and how they fit in to the big | | | | each team member better understands the direction |
| picture.AccomplishA lot of hard work is required now | | | | of the company, they will improve their ability to |
| that it's time to accomplish the proposed plan. After | | | | prioritize their immediate and long term objectives |
| having just developed the plan and objectives, the | | | | and will be confident with their responsibilities and |
| entire organization is often energized and motivated | | | | decision-making skills. Ultimately, the strategic |
| about reaching goals. However, as soon as the | | | | management process will improve, and this will lead |
| motivation wears off and the real effort begins, the | | | | to better planning and more success in the years to |
| focus can become blurred. It is really easy to be | | | | come.CMOE has been helping Pfizer, ChevronTexaco, |
| knocked off track at this point. For this reason it is | | | | HP, Boeing and many other multinational organizations |
| essential to keep motivating the team members and | | | | develop their leaders over the past 28 years.To learn |
| keep the energy level up. This can be accomplished | | | | more about Strategic Management and other |
| with the following suggestions:Responsibility. Assigning | | | | programs and services we have to offer, please |
| specific responsibilities and tasks to individuals helps | | | | contact us at toll free at 888-262-2499. |
| them feel important and needed. Knowing that they | | | | |