process of strategic_management

May 29th, 2015
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A. T. Still University
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• “Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.” Strategic Management can also be defined as "the identification of the purpose of the organisation and the plans and actions to achieve the purpose.

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Strategic managementis a field that deals with the major intended and emergent initiatives taken bygeneral managerson behalf of owners, involving utilization ofresources, to enhance the performance ofrmsin their external environments.It entails specifying theorganization'smission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.Strategic management is a level of managerial activity under setting goals and overTactics.Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment. Strateg

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