Monday, March 8, 2010

Strategic Management: Three Phases


1. Strategy Formulation (new business, joint venture or any other, because the firms have scare resources)
2. Strategy implementation or action stage (annual objective,polices allocate resources etc)
3. Strategy Evaluation for future modification due to change in internal and external factors.

Strategy Formulation:
Strategy formulation includes:
 Developing a vision and a mission statement.
 Identifying external opportunities and threats
 Determining internal strengths and weaknesses
 Establishing long term objectives.
 Generating alternative strategies.
 Choosing particular strategies to follow.

Strategy Implementation:
Strategy implementation is called the action stage of strategic management. It includes:
 Establishing annual objectives
 Creating effective organizational structure
 Devising policies
 Motivating employees
 Allocating resources

Strategy Evaluation:
a. Reviewing external and internal factors that are the bases for current strategies.
b. Measuring performance.
c. Taking corrective actions.

15 comments:

  1. thank you for valuable post

    ReplyDelete
  2. MAY GOD BLESS YOU FOR THESE RELEVANT POST
    I AM REALLY HAPPY
    FROM RICHARD ANNAN

    ReplyDelete
  3. volition your gamer who is world-weary fiгm
    and who іs tгying to find a new Column protectiοn game that
    they Experiencе not necеѕsarily
    Ехperienced in the paѕt times.

    ReplyDelete
  4. erst you flick Thіthеr Ms. Birdy volition attеnd tο you and proсeed to gеrminatе, and Unloοsen online gamеs and datа prοceѕsοr
    gamеs are widely uncommittеd on the
    Internеt.

    Alsο vіsit mу site: game

    ReplyDelete
  5. Ѕtaгting today, you can sωitch Loсation Serѵices bаck on.

    Plus, the ρlug іs, y'know, actuallyin the wall. In fact, the first space station, and every detail we see implies that Apple has filed that may relate to a future wristwatch concept.

    my weblog: iphone

    ReplyDelete
  6. Thank you for being very precise and specific

    ReplyDelete
  7. This is really wonderful blog. All The articles are worth reading. Hope you would also like to see Strategic Management | Process and Importance

    ReplyDelete
  8. It was such a wonderful article.Management Processis the process of setting goals planning ,controlling and organizing the activities.

    ReplyDelete
  9. Strategic Management is a very broad discipline, its scope spanning the entire strategic decision-making structure of the organization, from the management processes and decisions to the activities performed in all its functional units. The primary focus of this discipline is the conduct of the strategic management process, which pretty much covers all the activities and functions performed to enable the organization to cope well with change over the long term. Steps in Strategy Formulation Process

    ReplyDelete
  10. Nice articles.
    I am also blogger . i have also some articles about strategic management process. please visit once and give me some feedback. Thank You.
    strategic management process

    ReplyDelete
  11. see hereyou could try these out my companypop over to this site have a peek at this web-sitecompany website

    ReplyDelete