Answer to Question #216639 in Management for Obeng Samuel

Question

Discuss the strategic management process.

Answer 1

Strategic management can be described as a branch of management that is concerned with the organizations’ strategic objectives. They develop an organizations’ vision, outlining objectives to be realized in its operations and implementation process. There are five steps involved in the process which includes, goal setting organization's vision is clarified, analysis-gathering information that is needed to accomplish their goals, strategy creation-involves identifying other resources that are not available within the organization but are important to achieve their goals, strategy implementation, and evaluation and control- the success of the company is gauged by determining how far they have reached in their final targeted goals.