Objectives Of Strategic Management Process Essay

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1.0 Introduction

Strategic management can be referred to as a group of decisions and activities that have an eventual outcome in the formulation and implementation of tactics planned to attain an organization’s objectives (Robinson and Pearce, 2007).
2.0 Strategic Management Process

The strategic management process consists of the following:
2.1 Environmental Scanning
Nabradi (1999) defined it as a process of assembling, examining and providing evidence for planned purposes. Internal and external factors that affect a company’s decision can easily be assessed. Evaluation is the next essential task and should be done on a constant basis and further attempts carried out to develop it.
2.2 Strategy Formulation
This can be referred to as the method of deciding the finest way for attaining the organizational goals as well as the reasons behind such objectives. Managers form various strategies such as corporate, business and functional immediately they complete carrying out the environment scanning process (Nabradi, 1999).
2.3 Strategy Implementation
Nabradi (1999) states that putting the various strategic choices or the specific strategy to action can be defined as strategy implementation. This involves various processes such as designing the organization’s structure, allocating resources, evolving the decision making process, and handling human resources.
2.4 Strategy Evaluation
This is the ultimate step of the management process and involves an essential set of actions
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