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Brief explanation of a strategic management process

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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".

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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 ...

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

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A brief explanation and concepts of strategic management.

Integrating strategy requires acknowledgement of environmental forces. Companies such as Netflix made several attempts to implement a strategy; consequently, an inadequate assessment of the environment did not prepare them for the loss of revenue as a result of negative consumer feedback. There are approximately five components of strategic management leaders should utilize prior to moving forward.

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