Essay on Starbucks Strategic Management Process
In this report an explanation about the strategic management process will be given, utilizing the model illustrated below. Firstly, the different elements will be explained followed by a clarification of the different relationships, in terms of impact, between them. First of all, an explanation about strategic management is given. According to Fred R. David, strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. Additionally, four stages could be defined in the strategic management process: environmental scanning, strategy formulation, strategy implementation, and strategy evaluation. Lastly, a …show more content…
Lastly, the strengths and weaknesses can be utilized to evaluate whether a company can deal with the weaknesses and threats in the external environment.
According to Coulter (2008), there are three types of environments that should be analyzed when assessing the external environment being namely the industry environment, the country or national environment, and the wider socioeconomic or macro environment. The industry environment is the environment in which the company is operating. Thus, there is particularly looked at the competitors of the company, the position of the company itself in the market, and also the history of the industry is taken into consideration. Additionally, the country or national environment is assessing the impact of globalization. As a