The Process Of Strategic Management

1940 Words Jul 1st, 2015 8 Pages
Nonprofits are growing to be very important in the United States, this is why the process of strategic management is so essential to know and follow. This will lead to great success, to any program or project. Most of the top management needs to think strategically to begin with, and then implement their thought into the management process. According to Tim Mazzarol, who wrote an article called Entreprenuership as the way of the future pp. 2-3, mentions that this intention is called strategic thinking. Strategic thinking is mostly known to resolve and diffuse coexisting matters. He also mentions that this type of thinking is where an organization can access, view and create a future, not only for themselves, but their employees as well. This just shows that it is more than just worrying about today or the next. It’s about thinking and evaluating long term problems, new realities, and opportunities that are open, therefore creating a future that will succeed. Strategy thinking always involves includes emotional, personal, and physical change , which also leads when you start visioning, construing and carry out results that will soon construct your companies values. By understanding this, we can start the strategic management process, which is best implemented when everyone within the company understands the clarity of the stragety. There are five steps that will be explained in greater detail, Goal-setting, Analysis, Strategy formation, Strategy Implementation and Strategy…
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