Strategic Manangement
University of Phoenix Strategic Management Process of Starbucks
MGT 498 Strategic Management January 6, 2013 Mr. Robert Hepler
Good management is critical when running any sort of business. Many companies management can either make or break them. So what separates the management of the elite companies to the management of struggling ones, a solid strategic management process. The strategic management process is broken up into four basic components, environmental scanning, strategy formulation, strategy implementation and strategy evaluation. Environmental Scanning consists of scanning the environment and analyzing factors that could influence your organization. This part of the process never rests because the environment is ever changing and management should always be scanning the environment and looking for ways to improve. Strategy formulation is the process of deciding best course of action for accomplishing organizational objectives and hence achieving organizational purpose (“Strategic management process,”2012). After the strategy is formulated you then move onto implementation. Strategy implementation is putting what was formulated in place. During this stage you would design the structure of your organization, develop processes and overseeing the human resources. The final step of the process is strategy evaluation. Once everything is in place and working it is critical to take a step back and evaluate the total process. Looking at how everything flows and observing if employees are following the process put in place are a few things to watch for. There are many successful companies and all of them have some sort of strategic management process. Starbucks is a global presence in the ever growing coffee industry. The company operates in
MGT 498 Strategic Management January 6, 2013 Mr. Robert Hepler
Good management is critical when running any sort of business. Many companies management can either make or break them. So what separates the management of the elite companies to the management of struggling ones, a solid strategic management process. The strategic management process is broken up into four basic components, environmental scanning, strategy formulation, strategy implementation and strategy evaluation. Environmental Scanning consists of scanning the environment and analyzing factors that could influence your organization. This part of the process never rests because the environment is ever changing and management should always be scanning the environment and looking for ways to improve. Strategy formulation is the process of deciding best course of action for accomplishing organizational objectives and hence achieving organizational purpose (“Strategic management process,”2012). After the strategy is formulated you then move onto implementation. Strategy implementation is putting what was formulated in place. During this stage you would design the structure of your organization, develop processes and overseeing the human resources. The final step of the process is strategy evaluation. Once everything is in place and working it is critical to take a step back and evaluate the total process. Looking at how everything flows and observing if employees are following the process put in place are a few things to watch for. There are many successful companies and all of them have some sort of strategic management process. Starbucks is a global presence in the ever growing coffee industry. The company operates in
References: Strategic management process - meaning, steps and components. (2012). Retrieved from http://www.managementstudyguide.com/strategic-management-process.htm Strategic management of starbucks corporation. (2009, September 09). Retrieved from http://ivythesis.typepad.com/term_paper_topics/2009/09/strategic-management-of-starbucks-corporation.html