Pitfalls of Strategic Management
The pitfalls of strategic management are shortly given below :-
- Strategic management does not work effectively in the real world situations, as conditions change so fast that managers can not do any planning specially for the long term.
- Strategic objectives and goals are often needed to be vague and general. Therefore, it causes misunderstanding and confusion, among people that thwart,
- Cognitive biases of the strategic decision makers often lead to severe and systematic errors in the strategic decision making process lest we forget that the rationality of the human decision makers is bounded by their own cognitive capabilities,
- Strategic management is heavily influenced by “groupthink” that makes strategic decisions poor,
- The test strategy formulation and implementation is seldom accomplished in planned and systematic fusion in isolation from everything else. Therefore strategic management can not have distinct qualitative attributes.
While pitfalls to strategic management process exist, let us keep in mind that they can always be circumvented. What is more important is to learn more about how we can avoid these pitfalls.
ReplyDeleteObviously you have hit the right point. The main purpose of my post was to let people know about the pitfalls because it would not be possible to circumvent them until we find out the bottlenecks.
DeleteThanks for the complement