Strategic Paper

In: Business and Management

Submitted By njbee2010
Words 879
Pages 4
Strategic Management Process Paper
Natasha Barnett
MGT/498
May 30, 2012
Luvi Mendoza

Introduction
When a company is trying to achieve a goal for the company this always involves planning. To be able to succeed to have to map out how you plan to get there and what it will take to make it happen. Many companies will use the Strategic Management Process for each department of the company as each department as their own goals to meet and then there will be a process for the company as a whole. Within the Strategic Management Process there are seven steps and the steps consist of: The Mission, Business and Operation analysis, Develop and select strategic options, Establish strategic objectives, Strategy Execution Plan, Establish Resource Allocations, and Execution Review. These steps all play an important role and have a reason to be in the steps required to reach one’s goals.
Primary Components of a Strategic Management Process Every component plays its own role and each role is very important in every plan. When making out a plan you have to first start with the Mission, which is basically what the end result that they are shooting for is. The mission would be information that has been obtained either from employees, data, customers, etc… Any and all organizations have to have a mission and a vision for their company for their customer and stakeholders to know where the company plans to go. Knowing what your completion is and also knowing what your company is good at and what they are bad at is part of this plan called the SWOT analysis. On information provide in step 1 and step 2 we would then want to develop what type of options we have, this would be the developing and select strategic option step 3. Then we would want to Establish Strategic objectives one would want to look at the overall picture of the organization and set some goals and make a…...

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