Strategic Management Process Model
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1- Discuss which model of the strategic management process most closely meets the planning needs of your organization.
2- Who in your organization would you involve in your planning process and why?
3- How much time would you require to conduct the strategic management process and to write a plan?
4- What form of communication about the strategic management process would be helpful to the employees in your organization prior to beginning the process?
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The solution discusses strategic management process in a personal context.
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1- Discuss which model of the strategic management process most closely meets the planning needs of your organization.
One view of strategy is that it is primarily "advanced planning" (setting objectives, etc.) that results from analysis. Another is that it is something that evolves out of the patterns of an organization's actions over time. For our organization I feel that the first model is better.
The firm must engage in strategic planning that plainly defines objectives and evaluates both the internal and external state of affairs to devise strategy, execute the strategy, assess the advancement, and fine-tune as necessary to stay on track. Strategy Formulation
Based on the information from the environmental scan, the organization should match its strengths to the opportunities identified, while dealing with its weaknesses and external threats. The company seeks to foster a competitive advantage over its competitors to earn superior profits. A competitive advantage can be based on cost or differentiation. Michael Porter identified three industry-independent generic strategies from which the firm can choose?cost leadership, differentiation, and focus.
I feel that setting objectives ahead of time for the company will allow the employees, management and the directors' a sense of what needs to be done in the coming year. This will help the organization to perform in a much more proficient manner because employees will know what to obtain in the coming year.
But I also believe that companies should constantly make changes in the way ...
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