Strategic Management: Process, Content, and Implementation

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Strategic management
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Introduction
Strategic management can be defined as managerial activities and
decisions which govern the persistent performance of any business. It
encompasses environmental analysis (internal and external), strategic
planning formulation, strategy enactment, assessment, and control.
Strategic management underscores the evaluation of external prospects and
risks by a company’s strengths and flaws. This emphasizes on crafting fresh initiatives
and the necessity for strategic content which accepts environmental facts to inform plans
gradually. This is achieved by expounding on the current missions and objectives, targeting
expenditure, redesigning a company’s plans, besides fundraising together with other operational
phases. Furthermore, strategic content is an assortment to help acquire experiences from other
individuals – inclusive of workforces and frontrunners – into a collective vision. Strategic
management allows corporations to craft value for their clients (Elshamly, 2013). It also enables
the company to adjust to variations in its outside atmosphere, for instance, competition.
Therefore, it is vital that the strategy content, such as goals, management priorities, and
initiatives remain consistent with the company’s general mission and vision. Thus, strategy
expansion is a dynamic variable within the company design plan since it illustrates a company’s
selected path to competitive achievement (Obaga, 2016).
Strategy development process
An eminent and clear strategy designing process is crucial in supporting actual strategy
execution. In various companies, this happens in the form of a yearly strategic scheduling
practice. This procedure ought to be systematically articulated, with a particular commencement

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and conclusion and unmistakably outlined sectors. The duties and roles of the members in the
method should be elucidated, and the outcome of the procedure (the planned strategies, goals and
initiatives) ought to be unambiguously detailed (Boulton, 2010, p. 31). Moreover, many authors
advocate that strategic management should be connected to the objective setting practices of the
corporations to facilitate personal goals to be connected to the planned goals of the corporation
in objective-setting deliberations among leaders and the workforces. Realizing this objective at
the inception is influential in stimulating the desired social change and incentive in workforces,
which sets the execution procedure in a favorable position (TOMA, 2016, p.184).
Procedural justice in the process of strategy formulation is an essential factor since it
impacts on the commitment, trust and structural coordination of leaders in subordinate
corporations. It is debated that in case a subsidiary’s administration views the process of strategy
formulation as being unbiased, open, reliable, and embracing their contribution, this generates
higher levels of commitment to the structural good, confidence in management, and communal
congruence with their management coworkers, and consequently they are motivated to execute
the plan (Hammer, 2012, p. 915). Different supportive outlooks centered on revelatory social
interaction reveal that corporations are communally constructed schemes of collective
importance. Whenever this fair procedure is lacking, the adverse effect will be evident in the
organization. This also applies in the local corporations. Various studies have revealed that
organizations can secure employee investments by allowing them to participate in the process of
strategy formulation (TOMA, 2016, 184).
The strategy content