Effective Processes of Management Essay Example | Topics and Well Written Essays - 2250 words

Effective Processes of Management - Essay Example The strategic management processes are three: strategy analysis, strategy formulation and strategy implementation. These processes are strongly interrelated. None of these processes comes first and the others follow. The order of these processes is not sequential. Henry Mintzberg supports the idea that the decisions in an organization are not always taken on optimal rationality and that the business environment is not predictable. He proposed another model of strategic management where the realized strategy of an organization is a combination of deliberate and emergent strategies. The processes of the financial management are the following: financial planning and financial control. Financial planning controls the financial resources of the organization and it plans the timing and the size of expenses. The financial processes help the organization to generate profits. Financial planning tries to increase the resources of the organization and it takes care of the money invested in the organization by external third parties/investors. Talking about investors, financial planning takes care that the investors will receive reasonable amounts of return on their investments. Change management is a necessary component of any organizational performance improvement process to succeed, including programs like Six Sigma, Business Process Reengineering, Total Quality Management, Organizational Development, Restructuring and continuous process improvement. Strategic Human Resource Management includes strategies concerning learning and development. There is a distinction between learning and development. Pedler, Boydell, and Burgoyne (1989) see learning as being concerned with an increase in knowledge or a higher degree of an existing skill, whereas development is more towards a different state of being or functioning.