Three Important Strategic Management Concepts

Strategic management and planning can be vitally important to a corporation. It is important for a company to know where they are currently, as well as where they are planning to go in the future. It is also important to have specific goals that are to be met according to a set timeline, in order to develop a business properly. Here are three strategic management concepts that should be at the forefront of any business.

Effective Utilization of Resources

In order to succeed, a company has to make good use of its available resources. This includes human resources as well as financial resources. It is important for a company to fully understand what it has to work with, so that it can develop a plan to leverage these resources in the most effective manner. Once this understanding is achieved, a company is better prepared to develop a plan of action that will allow it to reach its goals.

Continual Evaluation of the Process

Simply developing a plan of action is not enough. There must be a continual evaluation process in place. By evaluating the process on an ongoing basis, a company will be able to adjust the plan if conditions change. This evaluation process is also important to make sure that the plan is having the desired effect. If the overall business plan is not proving to be effective, the evaluation process will show early indications of the problem so that adjustments can be made quickly.

Identification of Risks and Opportunities

Within every company process, there are risks as well as opportunities. The strategic management process can help a company identify these factors and evaluate them so that the best course of action can be chosen. In some cases, the possibility for opportunity may outweigh the risks involved, but the opposite may be also true. Without a good strategic management process, a company is at a definite disadvantage.

Project Management Concepts – The Project Manager Manages

Today I want to look at how the project work gets done. We already know we need to protect the team, and make sure they can get on with the tasks assigned to them. But this also means we need to get on with the tasks assigned to us, the job of project management. The concept I am looking at today is: The project manager doesn’t do the work, he does the managing.

Project management is hard work. On all but very small projects, it is a full-time job. And that means you really shouldn’t be being pulled off to do other work in the project.

I’m not saying that we don’t have the skills to do some of the work. Many of us will have worked our way up through doing project work – we are used to it, and we understand it.

But if we are doing the work, then we aren’t managing the project! We need to remember where our skills lie. Often we will get dragged into doing the some of the tasks, but this is a failure of project management (usually on the organization’s behalf), not an essential part of it.

Make sure you are using appropriate resources to get the work done. The project manager is rarely an appropriate resource! And that gives us a project management concept: The project manager doesn’t do the work, he does the managing.

(Having said that, I have ended up doing project work for the majority of projects I have worked on. This isn’t a good thing, but it is the real world. You should aim to avoid this if at all possible.)

Maximize Your Management Concept Training Course For Higher Work Effectiveness

A management concept training course, when applied correctly, can help to boost your company’s production and work effectiveness. When you apply the concepts that are taught in the course and are consistent, you will notice an exponential increase in efficiency in regards to personnel and operations. While there are many different types of management concept training courses available, only a handful are on a level where they can be properly utilized on an organizational level. These five tips will help you maximize and hone the skills that you learn in a management concept training course.

1. Use your Notes

All too often people sign up for training courses and skills enhancement courses and when they walk out the door they leave a good percentage of what they learned behind them. Studies show that people only retain a small percentage, in the neighborhood of 24%, of information that they are told or taught – unless they write it down. Take notes and USE THEM! Refer to them often, transcribe them to share with coworkers and apply what you learned to real life situations.

2. Have Regular Staff Development Meetings

Having regular staff development meetings where you reiterate and expand upon the material you covered at your management concept training course will help to make it a part of your organization. As you work on your skills, developing them and honing them, you are applying them to real life situations. Additionally, you are working with others in the applications of the principles taught.

3. Create a Focus Group

Create a focus group with a good, diverse team to bounce ideas off of each other. Discuss the principles that you learned, use your notes from the course and talk about ways to realistically apply the principles to your own organization. Explore creative applications for the skills and teach the other members of the focus group the skills you learned in your management concept training course.

4. Ask Questions

Ask questions and get feedback about how the principles and skills are working in your organization. Don’t, however, contain your quest for feedback solely to upper management. Ask lower level employees. They are often on the front lines, dealing directly with customers, product and operations so their feedback and suggestions could prove to be invaluable.

5. Keep on Learning

Don’t limit yourself to just one management concept training course, keep on learning! Take other courses that are related to your topic and look for courses that build on your existing skills, particularly those that you learned through your initial management concept training course. Never stop learning, update your skills, abilities and knowledge regularly.

When you attend a management concept training course, you can bring to your organization and position. There are even more ways that you can help your managers increase their effectiveness at work, never stop exploring.