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    Strategic Management Model

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    ATUL AB
    This document outlines a strategic management model with the following key components: 1) Identifying an organization's vision, mission, objectives, and strategies is the starting point and acts as a framework for strategic choices. 2) The strategic management process is dynamic and continuous, with changes in one component potentially requiring changes in other areas. 3) The model represents a clear approach for developing, implementing, and evaluating organizational strategies on an ongoing basis through a cycle of planning, implementation, and assessment.

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    Strategic Management Model

    Uploaded by

    ATUL AB
    28 views2 pages
    This document outlines a strategic management model with the following key components: 1) Identifying an organization's vision, mission, objectives, and strategies is the starting point and acts as a framework for strategic choices. 2) The strategic management process is dynamic and continuous, with changes in one component potentially requiring changes in other areas. 3) The model represents a clear approach for developing, implementing, and evaluating organizational strategies on an ongoing basis through a cycle of planning, implementation, and assessment.

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    This document outlines a strategic management model with the following key components: 1) Identifying an organization's vision, mission, objectives, and strategies is the starting point and acts as a framework for strategic choices. 2) The strategic management process is dynamic and continuous, with changes in one component potentially requiring changes in other areas. 3) The model represents a clear approach for developing, implementing, and evaluating organizational strategies on an ongoing basis through a cycle of planning, implementation, and assessment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    28 views2 pages

    Strategic Management Model

    Uploaded by

    ATUL AB
    This document outlines a strategic management model with the following key components: 1) Identifying an organization's vision, mission, objectives, and strategies is the starting point and acts as a framework for strategic choices. 2) The strategic management process is dynamic and continuous, with changes in one component potentially requiring changes in other areas. 3) The model represents a clear approach for developing, implementing, and evaluating organizational strategies on an ongoing basis through a cycle of planning, implementation, and assessment.

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    8.

    STRATEGIC MANAGEMENT MODEL


    identifying an organization's existing vision, mission, objectives, and strategies is the
    starting point for any strategic management process because an organization present
    situation and condition may preclude certain
    strategies and may even dictate a particular
    course of action.
    Every organization has a vision, mission, objectives, and strategy, even if these

    elements are not consciously designed, written, or communicated.

    The strategic management process is dynamic and continuous.

    Achange in any one of the major components in the model can necessitate a change
    any or all of the other components. For instance, a failure to
    accomplish annual
    objectives could require change in policy; or a major competitor's change in
    a
    strategy
    could require a change in the firm's
    mission
    Therefore, strategy formulation, implementation, and evaluation activities should be
    performed on a continual basis, not just at the end of the year or semi-annually. The

    strategic management process never really ends.


    The strategic management process can best be studied and applied using a
    model.
    Every model represents some kind of process. Strategic management model is a widely
    accepted, comprehensive.
    This model like any other model of
    management does not guarantee sure-shot
    success, but it does represent a clear and practical approach for formulating,
    implementing, and evaluating strategies.

    Relationships among major components of the strategic management process are


    shown in the model.

    Perform
    External

    Audit

    Develop Implement
    Vision Establish Generate, Implement
    And Strategies
    Mission Long-term Evaluate, Strategies Marketing. Measure and
    Statements Evaluate
    Objectives and select
    Management Finance,
    Strategies Issues Performance
    Accounting9
    R&D, MIS
    Issues
    Perform
    Internal

    Audit

    Strategy Strategy Strategy


    Formulation Implementation Evaluation

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