The Strategic Management Process

Learning Objective 1

  1. Explain, with examples, each of the steps in the strategic management process.

Angelo, like any employer, needs human resource policies that make sense in terms of supporting the company’s strategic plan—which he sums up as “to offer only the best, at reasonable prices.” As we’ll see in this chapter, a strategic plan is “the company’s overall plan for how it will match its internal strengths and weaknesses with its external opportunities and threats to maintain a competitive position.” Based on this plan, the human resource manager formulates human resource policies and practices that aim to produce the employee competencies and skills the company needs to achieve its strategic goals. The ...

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