Strategic Intent Definition: Strategic Intent can be understood as the philosophical base of the strategic management process.It implies the purpose, which an organization endeavor of achieving. For these reasons, effective strategic management requires both an inward and outward perspective. Typically, you seek out a strategic partnership to fill a gap in your own strengths or to create a synergy that increases your profit potential. The balanced scorecard is a management system that turns strategic goals into a set of performance objectives that are measured, monitored and changed, if necessary, to ensure the strategic goals are met.. Here are a few examples of different strategic plans: Strategic Plans for Business. Strategic management in an organization ensures that things do not happen randomly but according to pre-planned, long-term plans. What is Strategic Analysis? Accessed 2 Dec. 2020. A prescriptive approach to strategic management outlines how strategies should be developed, while a descriptive approach focuses on how strategies should be put into practice. What is strategic planning? Learn a new word every day. Strategic communication management is the control of communication in and out of an organization to promote the clear exchange of information and ideas. Send us feedback. How Enterprise Risk Management (ERM) Works, Corporate Citizenship: What You Should Know. In … Test Your Knowledge - and learn some interesting things along the way. What made you want to look up strategic? What is strategic thinking? Strategic change is the implementing of changes to important characteristics of a business, for instance in response to new market threats or opportunities. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! The process also includes establishing the sequence in which those goals should fall so that the organization is enabled to reach its stated vision. In business, corporate strategy refers to the overall strategy of an organization that is made up of multiple business units, operating in multiple markets. A strategic manager may oversee strategic management plans and devise ways for organizations to meet their benchmark goals. Helping their company find ways to be more competitive is the purpose of strategic management. It reports to the headquarters about its operational status. Please tell us where you read or heard it (including the quote, if possible). Strategic analysis is a process that involves researching an organization’s business environment within which it operates. Often the hardest part. To be a strategic leader, you need to operate from an open-minded perspective. Strategic management is divided into several schools of thought. 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