The trends in business or service sectors are changing in the current era of Globalization, Liberalization and Privatization. So it is essential for organizations to re-evaluate their strategies and do necessary modifications if required. The strategic management process include three stages. strategy formulation, implementation and evaluation.
Strategic management always concentrates on the strategies of the organization. It is the duty of the other streams of management to successfully implement the strategies which is formulated by the top management. For example, if the top management locates any discrepancies in the marketing function of the organization, then they will definitely suggest some different strategies for the effective marketing. But
it is the duty of the marketing team to implement the strategies successfully. Strategic management is the brain of an organization. It controls all other functions of the organization. Like nerves send information to brain and receive instruction from brain, all other management segments of the organization send information to the strategic management team and receive instructions from them.
“Participatory management means that staff, not only the designated managers, have input and influence over the decisions that affect the organization. It is not the same as communal or co-operative management, where every staff member has the same weight in the decision making process.” (Phil Bartle, PhD, 2008) Participatory management often helps organizations solving difficult problems because of the collective efforts involved in the process. I know the story of an illiterate worker who guided his manager in an unfamiliar situation.
Though the participatory management has its own merits decision making may not be that much easy and quick like in the case where a single person taking decisions.