Strategic Management
The primary components of the strategic management process are "goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring" (Clayton, 2012, p. 1). Setting these guidelines and following them is only the beginning. Determining what the company 's mission and purpose is will help to determine what steps are the best to take to achieve these intended goals. Understanding the vision of the company and what the short-term and long-term goals are will help to understand what additional steps are needed for the organization to achieve these goals. How will these objectives be implemented and involve everyone in the organization to achieve these goals? Are these goals "realistic and match the values of your vision" (Clayton, 2012, p. 1)? Is the company mission clear about how these goals will be implemented and what part every employee must complete to achieve these goals? One thing is for sure, whatever the goals set and determined are, these ideas need to be clearly written and identified to all intended parties so that everyone is on board and working towards the same desired outcome.
Another point that needs to be mentioned is that this is not a short-term phase, but something that needs to be implemented for the long haul. "Strategic change management is a process, something that is going to take time to develop, cultivate, and assimilate into your business process" (Forbes, 2012, p. 1). Strategic management involves not only the idea of setting these goals and implementing them, but of monitoring these strategies throughout the implementation and analyzing these strategies, making sure that everyone is on target and working towards what the intended mission is. One important aspect of strategic management is determining whether the original goals fit the company 's mission and if these goals don 't, then altering them to fit what is needed to meet the company 's vision. These challenges will take time to first of all see if
Another point that needs to be mentioned is that this is not a short-term phase, but something that needs to be implemented for the long haul. "Strategic change management is a process, something that is going to take time to develop, cultivate, and assimilate into your business process" (Forbes, 2012, p. 1). Strategic management involves not only the idea of setting these goals and implementing them, but of monitoring these strategies throughout the implementation and analyzing these strategies, making sure that everyone is on target and working towards what the intended mission is. One important aspect of strategic management is determining whether the original goals fit the company 's mission and if these goals don 't, then altering them to fit what is needed to meet the company 's vision. These challenges will take time to first of all see if
References: Clayton, J. (2012). "The Five Stages of the Strategic Management Process," Demand Media. Retrieved November 27, 2012 from http://smallbusiness.chron.com/five-stages-strategic-management-process-18785.html Forbes. (2012, Nov. 19). "Strategic Management: No Band-Aid Required." Retrieved November 27, 2012 from http://www.forbes.com/sites/aileron/2012/11/19/strategic-management-no-band-aid-required/ Pottabathni, G. (2009, May 30). "Strategic Management: A Case Study of Walmart Inc." Retrieved November 27, 2012 from http://www.articlesbase.com/strategic-planning-articles/strategic-management-a-case-study-of-walmart-inc-945260.html Ray, L. (2012). "Strategic Management Process," eHow Contributor. Retrieved November 27, 2012 from http://www.ehow.com/how-does_4964358_strategic-management-process.html