Essay on Strategic Management And The Process Of Strategic Managers
This paper will zero in on strategic management. With analyze the definition of strategic management and the process of strategic management. Meanwhile, the purpose of this paper will demonstrate the benefit of strategic management, and through the case study to illustrate why strategic management is important.
2.what is strategic management? A business without strategy is a business without direction. Strategic management is the art, science and knack of formulating, implementing and calculating cross-functional decisions that will set up an organization to complete its long-term objectives. It is the process of citing the organization 's mission, perception and objectives, establishing policies and ideas, often in terms of projects and programs, which are created to enact these objectives and then allotting resources to implement the policies, and ideas, projects and programs. Strategic management explores to coordinate and integrate the activities of the diverse functional field of a business in order to carry out long-term organizational objectives. A balanced catalogue is usually used to evaluate the overall performance of the business and its growth towards objectives.
2. Six Steps of Strategic Management
Strategic management Process has six steps. The first one is identify the organization’s current mission, goals, and strategies for every organization needs a mission, which is the goal of plan. It is the purpose that managers lead their…