- Published: September 19, 2022
- Updated: September 19, 2022
- University / College: University of Oklahoma
- Level: College Admission
- Language: English
- Downloads: 1
As Chang and Platt have it:
Management needs a new, more powerful means of responding to changes while learning to adapt in a very different business environment. Strategy-driven management is the answer. The strategy is defined as a disciplined way of thinking and managing. No organization can succeed long without having clearly defined purposes and objectives, the means to deploy its forces and resources, and the power to motivate its people to forge ahead. (Chang & Platt 1987, p. 52)
Every aspect of the company’s activity – from organizational structure and culture to its strategic goals – needs to be correlated all the time with the current situation on the market. The continuous change is an integral part of any organization’s activity, and in order to remain competitive, managers should ” learn to respond to a growing number of changes in how they structure companies, conduct business, implement technology, and relate to customers and employees”. (Suresh, 2001, p. 3)
Situation analysis helps to correlate the organization’s resources with its opportunities, and it concentrates upon certain real conditions and current tendencies in economic processes so that to determine the company’s behavior and the activities necessary to obtain maximum profit, cut costs, and achieve other positive results.
