The Responsibility And Role Of Management In Corporate Strategy

[Ramolak19]

I was in a meeting last week to address this topic In terms of corporate strategy, management's duties and responsibilities which include establishing strategic goals, making well-informed decisions, distributing resources wisely, and supervising the strategies' execution and ongoing monitoring to guarantee that they are in line with the organization's aims. A company's management is critical to its strategy, since they analyze market trends, spot opportunities, control risks, and promote an innovative and flexible culture. Management creates the foundation for success and propels the company toward long-term growth and a competitive edge in the market by offering leadership, guidance, and supervision.

 

[Leah Kelvin]

The role and responsibility of the management in business strategy are very essential for the success and growth of an organization. Below are some critical areas to consider:

1. Setting the strategic direction: The management is responsible for setting the strategic direction of the organization as a whole. This involves determining the company’s long-term goals, objectives, vision and core values that guide decision making.

2. Formulating corporate strategy: An important role of management is formulating corporate strategies. This includes analyzing market trends, identifying opportunities/threats, assessing internal capabilities and designing a strategic plan consistent with organizational goals and objectives.