STRATEGIC MANAGEMENT

Strategic management
What is the first thing one needs in order to start an enterprise? Many
people will suggest ‘money’. But before such a basic resource can
be put to use there needs to be a purpose for it. Thus the very first
thing required to launch an enterprise must be an idea that gives rise
to that purpose. Companies are encouraged to define their ‘vision’ –
one that can be a guiding force for management and employees in
steering their business. Often this is not an exercise in creating a
new idea but in recognising and, if necessary, adapting the original
vision that gave birth to the existing business.