logo

Strategic Management INTRODUCTION 1 MAIN BODY1 1. Key Activities in the Strategic Management Process

   

Added on  2020-10-22

6 Pages1201 Words200 Views
 | 
 | 
 | 
Strategic Management
Strategic Management INTRODUCTION 1 MAIN BODY1 1. Key Activities in the Strategic Management Process_1

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Concept of strategic management ..........................................................................................12.Key activities in the strategic management process.................................................................13.Corporate Governance and its key element.............................................................................24. Stakeholder management........................................................................................................25. Greater management perspective for the managers................................................................36. hierarchy of goal.....................................................................................................................3CONCLUSION ...............................................................................................................................3REFERENCES................................................................................................................................4
Strategic Management INTRODUCTION 1 MAIN BODY1 1. Key Activities in the Strategic Management Process_2

INTRODUCTIONStrategic management include the planning, monitoring, implementation of the activitieswhich is important for the organisation to achieve its overall goal. This report will include theconcept of strategic management and key activities of strategic management process. This willalso include the corporate governance which direct the firm. Further more this will explain thestakeholder management and hierarchy of goals. MAIN BODYQuestion 1. How is “strategic management” defined , and its four key attributeStrategic management is the management process which works for continuous planning,executing, monitoring, analysing and assessing all the implementation which is necessary for anorganisation to meet its organisational goals and objective. Key attributes of strategic managementStrategic management work toward to organisational go0als and objective.Strategic management include the multiple stakeholder in the decision making (Ansoffand et.al., 2019).Strategic management focus on both future long term vision and short term and presentneeds as well.Strategic management recognise the organisational needs to work effectively andefficiently.Questions 2. Key activities in the strategic management process and its importance to managers.There are five main key activities in the strategic management process which is apply bythe management in order to meet the organisational objective. Clarifying the Vision – Firstly clarify the vision by sting the goal and and its purpose. For thisset the long term and short term objective of the organisation and then identify the processthrough which the goal is to be achieved. And also clarify the goals, its process and purposewhich will help to achieve the objective.Analyse the information gathered – In this stage all the information and relevant data which isgathered to give the shape to next activity, are evaluated. Formulate the strategy – In this stage of activity, strategy is to be reviewed and determine theavailable resources that can help in reaching the goals and identify the areas in which businessneed external resources (Noe and et.al., 2017). 1
Strategic Management INTRODUCTION 1 MAIN BODY1 1. Key Activities in the Strategic Management Process_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Importance of Change Management in Transformation Process
|11
|3270
|68

STRATEGIC MANAGEMENT: SAMSUNG.
|4
|443
|79

Strategic Management: Process, Impact, and Business Plan
|11
|3118
|68

Strategic Management: Tesco Case Study
|13
|3522
|62

Strategic Management: Process, Models, and Tools
|10
|3049
|82

Strategic Management: Process, Tools, and Importance of Change Management
|11
|3250
|482