STRATEGIC MANAGEMENT AND THE IMPORTANCE OF BAROMETER AND THE STRATEGIC MANAGEMENT DASHBOARD
Keywords:
Strategic management, Barometer of Strategic management, Dashboard of Strategic management, PH, BSC, TBTAbstract
Strategic management consists of setting the main goals of the company or more broadly of the organization. Such a concept is the result of collective decisions that have medium and long-term impact in order to realize the vision and guarantee the performance and sustainability of the company or organization. Strategic management is based on a certain number of parameters that need to be implemented. The management team should be able to analyze the environment of the company or the administration, and to single out the factors for business success, to register the comparative advantages in terms of competitiveness and to get to know the possible competitors in detail. Skillful management with strategic management is desirable to have a perfect knowledge of internal capacities, resources and skills. Finally, it is desirable to determine the goals, and in function of the goals to define the strategies for implementation and carefully monitor the results. In this area, a very effective tool is the Strategic Management Dashboard and Barometer, designed by Norton and Kaplan.
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