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strategic_managment-It’s a long-term perspective of management. What managers do to develop the organization’s strategies. Strategic m

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Strategic ManagementChapter 08Strategic ManagementIts a long-term perspective of management.What managers do to develop theorganizations strategies.Strategic management canbe used todetermine mission, vision, values, goals,objectives, roles and responsibilities,timelines, etc.StrategiesThe decisions and actions that determinethe long-run performance of anorganization.Strategic Management ProcessCurrent MissionSituational AnalysisStrategy FormulationStrategy ImplementationSW (Internal Audit)OT (External Audit)1. Corporate level2. Business level3. Functional level1. Corporate level2. Business level3. Functional levelStrategic Control (Review + Evaluation)1. Current MissionAstatement of the purpose of theorganization, what the organization is going todo? What it want to achieve is stated inmission statement.Which portion of the mission statement is tobe accomplished by the organization.Components of MissionStatementSample Mission Statement"McDonald's brand mission is to be ourcustomers' favorite place and way to eat."We place the customer experience at the coreof all we do.We are committed to our people.We believe in the McDonald's System.We operate our business ethically.We give back to our communities.We grow our business profitably.We strive continually to improve.2. Situational AnalysisNational/LocalCompanies1.SWOT Analysis(Macro & Micro

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