Effect of Strategic Management Practices on Organizational Excellence
Abstract
Strategic management is one of the prominent topics widely adopted for research purposes all over the academic society. It was argued that strategic management could encourage the organization to be more goal-oriented. At the same time, other opinions stated that being strategic in the approach means the organization strategically runs and manages its sources, abilities, and the human factor in achieving better performance. Also, many scholars agreed with that idea, arguing that strategic thinking means being more empowered to utilize the right item in the right place to achieve performance excellence. From that idea, the present research sought to investigate the impact of strategic management methods on bringing the company to peak performance. The SM practices used in the present investigation were (Strategic Planning, Strategy Formulation, Strategy Implementation, and Strategic Control). The study's goal was achieved via a quantitative technique; for this purpose, an online questionnaire was posted to Google Forms, and 268 persons from senior management inside Jordanian SMEs answered it. The study's findings revealed that strategic management practices positively affect organizational efforts to achieve excellence. Strategic control is the most significant variable with a correlation of r = 0.806, followed by strategy execution with a correlation of r = 0.584. Other factors (formulation and planning) had a weak to medium link but looked important in bringing the organization to excellence. Based on these findings, the research suggested establishing coherence between the organization's objectives and the strategic plans established to have a successful operational strategy. The report also included further suggestions.
Keywords: strategic management, strategic planning, strategy formulation, strategy implementation, strategic control.
https://doi.org/10.55463/issn.1674-2974.49.4.26
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