Strategic management Process
What does a strategic management process look like? The approach described below is suggested as a guide:
1. Agreement on and initiation of the strategic management process.
2. Identification and clarification of the organization’s mission, objectives, and current strategies.
3. Identification of the organization’s internal strengths and weaknesses.
4. Assessment of the threats and opportunities from the external environment.
5. Identification of key constituents/ stakeholders and their expectations.
6. Identification of the key strategic issues confronting the organization.
7. Design/analysis/selection of strategy alternatives and options to manage issues identified in step 6.
8. Implementation of strategy.