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Modern Management: concepts and skills, 14/e
book

Modern Management: concepts and skills, 14/e

by Samuel C. Certo, S. Trevis Certo
December 2014
Beginner content levelBeginner
480 pages
118h 48m
English
Pearson
Content preview from Modern Management: concepts and skills, 14/e

Strategic Management Process

Strategic management is the process of ensuring that an organization possesses and benefits from the use of an appropriate organizational strategy. In this definition, an appropriate strategy is the one best suited to the needs of an organization at a particular time.

The strategic management process is generally thought to consist of five sequential and continuing steps:8

  1. Environmental analysis

  2. Establishment of an organizational direction

  3. Strategy formulation

  4. Strategy implementation

  5. Strategic control

The relationships among these steps are illustrated in Figure 7.1.

Figure 7.1 Steps of the strategic management ...

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Publisher Resources

ISBN: 9780134729138