The Implementation Phase Of The Strategic Management Process

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“Strategic management is defined as the process by which managers of the firm analyze the internal and external environments for the purpose of formulating strategies and allocating resources to develop a competitive advantage in an industry that allows for the successful achievement of organizational goals”(Strategic Management Insights.) This process includes specifically coordinated activities that align efforts and resources with the organization’s mission, vision and values. Strategic management can be broken down into three well defined stages: Formulation, Implementation and Evaluation. Each stage is comprised of specific elements. The focus of this discussion will be on the Implementation phase of the strategic management process. The implementation phase follows the direction indicated from the formulation stage, incorporating the analysis or assessment and organization level strategic plan. It is in the implementation phase that this plan becomes operational. In order to operationalize the Vision and Mission the implementation phase must focus on the management of the project itself. Short term and annual objectives that provide detailed descriptions, completion deadlines and measurable metrics for success must be established. These objectives must also be easily understood and provide a supporting framework for the construction of the project or initiative. Annual objectives summarize the yearly accomplishments of the organization are reportable as part of the
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