Explore BrainMass
Share

Explore BrainMass

    Brief explanation of a strategic management process

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Strategic Management Process: Analysis, Implementation and Evaluation - "Information systems infrastructure support" and "the strategic management process - As part of a project to add on an 8 unit psychiatric department explain the "information systems infrastructure support" and "the strategic management process".

    © BrainMass Inc. brainmass.com April 3, 2020, 6:42 pm ad1c9bdddf
    https://brainmass.com/business/management-information-systems/222510

    Solution Preview

    Strategic Management Process

    The strategic management process is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. When developing a new strategic management plan these elements are steps that are performed in the order presented. After a business has developed a strategic management plan, they will periodically go through the process again to determine if they need to make changes or improvements to the existing plan.

    Situation Analysis

    In the first step of the strategic management process, the situation analysis assists in the creation of the mission statement by providing information about the organizational context, the external environment and the organizational environment (Coulter, 2005). The process is performed by observing both the internal and external environments through employee interaction with each other, employee interaction with members of management, manager interaction with other managers and management interaction with shareholders. It is important to determine the relationships between the company and its suppliers, creditors and competition. Equally important is the determination of who the competition is what advantages the competitors have and whether or not the company is actively trying to increase the value of the business.
    Strategy Formulation

    This is the step when designing and developing the company strategies takes place. Determining company strengths and weaknesses aids in the formulation of strategies. Strategy formulation is generally broken down into three ...

    Solution Summary

    Strategic Management Process: Analysis, Implementation and Evaluation - "Information systems infrastructure support" and "the strategic management process

    $2.19

    ADVERTISEMENT