(overview) what is strategy and strategic management?
The concept of strategy and strategic management. Strategy in simple terms refer to the plans organization formulates to meet its end objectives. Strategies are advised to make ensure and market success and achieving competitive advantage.
Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. In the sense of the art of the general which included several subsets of skills including tactics , siegecraft.
In the field of management strategic management
Involves the formulation and implementation of major goal's and initiative taken by an organization top management in behalf of owners based on concentration of resources and and an assessment of the internal and external environment in the organization operates.
Three principles underlying the strategies
1. Creating a unique and valuable position
2. Making trade-offs by choosing "what not to do".
3. Creating fit by aligning company activities with one another to support the chosen strategy.
Two types of strategies
(a) corporate strategy
(b) Business strategy
Corporate strategy involve answering a key question from a portfolio perspective "what business we should be in"?
Business strategy involves answering the question " how shall we compete in this business"?
Management theory and practice often make a distinction between strategic management and operational management, with operational management concerned primarily with improving efficiency and controlling cost within the boundaries set by the organization's strategy.
Strategy is the overall approach that is related to the implementation of ideas, planning, and execution of an activity in a certain period of time. ... The following example illustrates the difference, "Strategy to win the whole championship with tactics to win one match"
Strategy Management is a process or series of decision-making activities that are fundamental and comprehensive in nature, accompanied by the determination of how they are implemented, made by the leadership of the organization and implemented by all levels within the organization to achieve the objectives. Some experts define strategic management or strategic management as art or science in formulating, implementing, and evaluating various cross-functional decisions that enable an organization to achieve its objectives. Strategic management focuses on the process of setting goals for an organization, creating and developing policies and plans to achieve goals, and allocating resources to implementing policies and planning the achievement of organizational goals. The application of good and targeted strategies is needed for any activity, especially in conducting business. The right strategy and organized in an organized manner will make it easier for an organization to carry out its mission to achieve its goals.
Hi friends first of all i thanks to mt5 forum to give us a great opportunity like contest know cane towards question starge is a planning to start trading and good management and starge link towards success
Hi friends strategic management involves the formulation and implementation of the major goals and initiatives taken by a companies top management on behalf of owners based on consideration of resources and an assessment of the internal and external environment in which the organisation completes the phrase strategic management is sometime used as a synonyms for strategy but the two terms are not actually the same company's strategy is its plan for victory in competition with other companies strategic management is a process for formulating and implementing a strategy
A strategy is long-term plan which is set by a businessman or entrepreneur to achieve is goals and the set of objectives. A well craft business strategy align with the core missions and vision act as a road map for sustainable profitability, competitiveness and growth of your business. As we all know the Forex Trading is a real business and also the largest business among all the world. On the other hand it is also most risk business as well. So if you want to become a successful trader(businessman) you should have to make a strategy which gives you consistent profit, competitiveness, and growth to your business (trading account).
Now the next topic which have to discuss is "Strategic Management". Strategic management entails the creation of major goals of the business. It also deals with the policies and the rules and regulation which are necessary for the growth of business.
In trading field we summarize our strategies to get success in trading field. While starting a real trading following things we should do.
1. Strategy analysis We should analyse different strategies and figure out what are the results.
2.Strategy Choice The second phase come which is the choosing of strategies which you have analyzed. Always remember choose the best strategy which you have analyzed. It does not means the most profitable you should also the risk factor also.
3. Strategy implementation The last phase but not the least also the most important which is the implementation of strategy. You should have implies strategy and stick to it and applies also the rules and term and condition.
Dear satretgy is the method by which we works every business has different rules and regulations for success you need some important aspects for trading satretgy is one of them in this way you learnt that how we trade well? How we can get the best results of our trading that is not easy thing but it's vital you don't apply the satretgy direct in real trading you should check your satretgy in demo trading if results are good then continue it in real trading for good satretgy you need the experience to read and understand the chart of market otherwise you cannot do anything guys we can take entry or exit but with experience everyday you should go with new satretgy but also you don't relay on single keep standby satretgy also in case of failure of first satretgy most important is that you should change your satretgy according to the market situation if situation is good and your planning is working then go on further otherwise change it satretgy is that you know very well your entry point you know the trend of market and follow that trend is also your satretgy if your satretgy is good automatically your trading will be in profit otherwise you can face loss only never go with blind trading or without any information but also my opinion is that you get the information about market then check out the trend of market by observing this thing you should adopt your best one I hope your results will be good we cannot work or any business without proper satretgy it is very common thing so go with best satretgy
Dear strategy is the planning that is implemented at any business or work to complete the achievement or target or goal. Strategyis for whole the task that will be complete you but the tactics is for only small task that is the part of that main task.
Strategy management is the main role of the any task or goal or the target that will be acheived. Strategy management is the decision making and implementation of strategy. It is the role of top management of any company or business. If you will not apply the strategy timely it will be the flaw of management that will delay the target if you are delay in task you will be fail and your strategy management is totaly fail.
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