Chatterjee R.N. () (ABV- Indian Institute of Information Technology & Management, Gwalior (M.P.), INDIA) Saksena Apoorva Patwardhan Manoj Bajpai Naval
Abstract
Strategic management is an intrinsic part of any organization. Strategic management comprises of environmental scanning, strategy formulation, implementation and evaluation and control. Through this process, an organization plans its activities which shall be profitable for the firm. On the other hand, organizational effectiveness is a tool for making best use of available talents, skills and helping employees to achieve their personal goals along with organizational goals and mission. Organizational effectiveness is the degree to which an organization realizes its goals. Effectiveness implicitly takes into consideration a range of variables at both the organizational and departmental levels. The presented study is an attempt to correlate strategic management and organizational effectiveness through a study in banks. The conclusion of the study supports that strategic management has quite an impact on organizational effectiveness in terms of planning, formulation, implementation and evaluation in relation to innovation, feedback, roles and communication within an organization.
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