Strategic management can be concepts and theories of formulating and implementin

Question

Strategic management can be concepts and theories of formulating and implementing plans to achieve the overall goals and objectives of the organization. Strategic management is done by the top level management taking into consideration the available resources and the internal and external environmental factors.In short these these are plans to obtain the maximum out of the present.

Strategic management and the difference in the public sector and the private sector are as follows.

1.The strategic management in the public sector is concerned more about the issues to be concerned about or the solutions to be solved for the public or the community.In a private sector the strategies are formulated based on the market competitions and the methods needed to compete.

2.The management is the topmost authority either to accept or reject the strategic management planning in the private sectors whereas there are lots of other forces and inventions like the politics in the public sector organisations.

3.The necessary changes and alternatives can be easily made in the private sector with the approval of all whereas in a public sector it is a very tedious and difficult job to make the necessary changes immediately.

4.Decision making is a compatible process in the pr9vate sector but not so in the public sector.

5.Profit making is the major objective in the private sector whereas the public sector has to consider social issues along with marginal profit .

6.The private sector is basically oriented in market conditions and strategies where as the public is involved on the society.

7.The leader or the team has unlimited powers regarding the concepts of strategic management in private sectors whereas a leader in public sector has restricted power on various aspects.

These are the major variations that can be found in the strategic management planning in the private sector and the public sector.

Explanation / Answer

Q8. If strategic management in the public sector is different from that of the private sector, describe and analyse the main differences.

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