Strategic Management and Business Policy, Global Strategic Management Wallace Group

The Wallace Group is in need of a Board of Directors for their corporation. The vaned of directors has an obligation to approve all decision that might take a chance the long run perfor military mance of the corporation. Harold Wallace has acted as a whizz man circuit card of director, making all final decisions for the Wallace Group. The board of directors responsibilities is setting incorporated strategy, overall direction, mission, or vision. Hiring and firing the chief executive officer and top management. Controlling, monitoring, or supervising top management. Reviewing and approving the use of resources and caring for shareholder interests. (Wheelen & Hunger) The next important problem that the Wallace Group is facing is the fact that they have never created or implemented a strategicalal management. The role of the board of directors in strategic management is to carry go forth terzetto basic tasks. The first if to monitor, by acting thro ugh its committees and to hold attendance to developments inside and outside the corporation and bringing these to the circumspection of management. The next would be to guess and influence management proposal, decisions, and actions; ordinate advice and offer suggestions. The final is to initiate and determine, a board place upright delineate a corporations mission and specific strategy. Strategic management is a technique you can use to create a roaring future and patron your organization to prosper.

To create this favorable future, you must involve your organizations stakeholders (anyone with a vested interest in ac hieving your organizations goal) in envisio! ning the most desirable future and then in running(a) together to off this vision a reality. The key to strategic management is to understand that people communicating and working together will create this future, non some words scripted garbage down on paper. Strategic management does not replace traditional management activities such as budgeting, planning, monitoring, marketing, reporting, and controlling. If you desire to get a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay