Question: give positive feeback on this comment: Here is how I understand the distinction between day-to-day management and strategic management. Day-to-day management is focused on running
give positive feeback on this comment: Here is how I understand the distinction between day-to-day management and strategic management. Day-to-day management is focused on running the business today, which includes scheduling, supervising employees, solving immediate problems, and assuring operations run smoothly. For example, a company in the environmental industry such as Veolia would use day-to-day management to ensure their water treatment plants are running efficiently today by maintaining water treatment systems and ensuring compliance. Strategic management on the other hand involves setting long-term goals and analyzing the competitive environment to decide how an organization can succeed in the future. That means a company would need to set a vision, analyze the external environment, and formulate long-term goals for success. For example, Veolia would use strategic management to plan how to lead sustainable water treatment for the next 10 years. To achieve this goal, Veolia would need to anticipate industry trends, invest in innovation, and differentiate itself from competitors. As Thompson et al. (2022) explain, "strategy is about competing differently doing what rivals don't do or can't do" (p. 7). A strategic management process for differentiating a company from its competitors for achieving long-term success is using corporate and social responsibility (CSR) initiatives. CSR is used to enhance brand reputation and build trust with customers and investo
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