Essay about Strategic Analysis and Strategic Management
Strategy is a high level plan in which to achieve one or more goals under conditions of uncertainty. It is very important because resources available to achieve these goals are usually limited. Strategy is often the difference between mediocrity and excellence.
Strategies exist at several levels in any organisation as stated above - ranging from the overall business through to individuals working in it.
Corporate Strategy- is concerned with the overall purpose of the business to meet …show more content…
Strategic analysis is the use of tools such as SWOT analysis, PEST analysis, and value chain analysis with an aim of determining the best way in which an organization can reach up to the desired goals and objectives using the available resources. strategy In its broadest sense, is about taking "strategic decisions" - decisions that answer the questions above.
In practice, a thorough strategic management process has three main components, shown in the figure below:
This is all about the analysing the strength of businesses' position and understanding the important external factors that may influence that position. The process of Strategic Analysis can be assisted by a number of tools, including:
Porters Five Forces
Directional Policy Market
Critical Success Factor Analysis
This process involves understanding the nature of stakeholder expectations,