Strategic Management Process

Strategic Management Process

Strategic Management Process

Synopsis

The process of strategic management consist of various activities to be performed in a sequential approach that are of prime magnitude for any organization in course of accomplishing the organizational goals, carrying out necessary tasks pertaining to those goals, and formulating the required tactics, strategies, plans and procedures that pave the way for overall organizational success.

The primary components of strategic management comprises outlining definite missions and objectives, and carrying out adequate and authentic situation analysis; an examination of company's strengths and weaknesses (internal environment), opportunities and threats (external environment), an environmental analysis consisting of ...