Strategy Planning Development and Strategic Positioning

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Strategic Management Process and Role of Planning Cycle

Strategic framework of an organization distinguishes it from the other organizations present in the competitive market place. Strategic management process can be defined as the process, which enables the firms to control the environment of the industry as well as organization, identify the competitors and establishes mission, goals and strategies, to meet the requirements of target customers and survive in the highly competitive environment (Grant, 2009). Strategic management process is basic activity of the firm, which is done by the top management to manage high performance of the firm with its competitors.

In strategic management process, planning cycle is ...