Advantages and Disadvantages of Strategic Management in Public Sector of Australia

Running head: STRATEGIC MANAGEMENT
Strategic Management
Name of the Student
Name if the University
Author note

1
STRATEGIC MANAGEMENT
The essayhelps in analyzing the different kinds of advantages and disadvantages of
strategic management in the public sector. Proper illustrations are required to be provided in
order to understand the different applications of the strategic management on the public sector of
Australia. Strategic Management is the continuous planning, analysis along with monitoring the
different kinds of necessities in the organization which will be helpful in meeting the different
goals and objectives.
Strategy is being defined from the military which refers to the objective of winning the
war and applying different tactics which helps in managing the opponents in the war. There are
various kinds of strategies which are being used in various fields in an effective manner such as
strategy management is different in private sector and public sector as well. It has been seen that
the strategic management concept is very much popular in the private sector wherein the main
purpose is to analyze the different kinds of strategies which will be helpful for the future
implementation (Armstrong & Taylor, 2014). Moreover, this has been noticed that there are
different kinds of advantages and disadvantages of the strategic management in the entire public
sector which is inclusive of the following:
Advantages
To begin with, firstly, strategic management helps in identification of the different kinds
of strategic directions which helps the public sector organizations in defining the goals and
mission of the organization. The major purpose of the strategic management is to define the
realistic kind of goals which will be in line to vision of the company effectively.
For instance- With the implementation of strategic management, the company tried to
benchmark themselves with the other competitors in the market especially the private sector
companies as this kind of metrics help in targeting the top competitor in the industry and gain
more knowledge on their approaches to succeed. Commonwealth Bank of Australia tried to
incorporate the strategic management practices in the different activities which are being
performed by them. Furthermore, this helped them in gaining knowledge on goals and mission of
the company which is required to be changed for the betterment of the organization (Armstrong
&Taylor, 2014).
Secondly, this has been seen that strategy has become used in an increasingly in the entire
public sector. With the implementation of the Bryson Model of Strategic Planning in public
sector, this has been noticed that this model helps in initiating and agreeing on the strategic
planning process and identifying the mandates of the organizational goals.
With the implementation of strategic management, this helps in longevity of the business
as without the business longevity, this will affect the entire growth of the business in an
ineffective manner (Höglund et al., 2018).
For instance-Bank of Western Australia Limited is one of the major public sector banks
which is situated in Australia has done proper planning with implementation of different
strategies in order to become more popular in the different kinds of approaches. Furthermore, the
bank tried to implement different kinds of strategies wherein the organizational goals were
achieved by the company in an effective manner.
With the implementation of the strategic management in public sector, this has increased
the share in the market along with the profitability in an efficient manner. With the