Monday, October 7, 2019
Strategic managemet Essay Example | Topics and Well Written Essays - 250 words
Strategic managemet - Essay Example This is because those factors may help towards determining measures that can be taken to increase their business efficiency and productivity. Additionally, managers should understand factors within their business environment (internal factors) such as: their competitors, available finances, employees, suppliers and their consumers in order to act strategically towards ensuring their business objectives have been realized (Nieuwenhuizen, Rossouw and Badenhorst, pp-7-20). In above connection, both internal and external business environment tends to undergo via dynamism this may act as an impediment for managers to understand the entire business environment (Thompson, John L and Frank, p 83). Managers tend to over concentrating on day to day problems and overlook on other factors that affect their business, this may also act as an impediment for understanding the entire business environment (Stokes, David and Nicholas pp140-141). Additionally, inability of managers to learn fast and consistently monitor changes that are taking place may act as an impediment towards understanding the whole business environment (Stokes, David and Nicholas p140). Tyndall, Gene R, John Cameron, and R C. Taggart. Strategic Planning and Management Guidelines for Transportation Agencies. Washington, D.C: Transportation Research Board, National Research Council, 1990.