Strategic Management Process

Topics: Strategic management, Management, Strategic planning Pages: 2 (545 words) Published: December 5, 2011

Strategic Management Process

MGT 498

In the following paper the strategic management process will be discussed. First to be described will be the primary components of a strategic management process. I will also indicate why a strategic management process is needed for a company. Finally I will research Apple and describe their strategic management process.

The first step to strategic management is 1. Developing a strategic vision. The management or leader must come up with a vision for the company. This vision should focus on where management wants the company to be in five years.  “A big first step in developing the strategic vision is to create a mission statement. The mission statement should define what an organization's purpose is and what it hopes to accomplish in the future. The corporate identity begins to take shape when the mission statement captures the strategic vision of leadership” (Akbar, 2008). The second step is setting objectives. This step puts the mission statement into action. It gives employees something to work toward. The third step is crafting strategy to achieve objectives. Management needs to develop a strategy for all employees to follow to reach the companies goals. The management needs to take into consideration all aspects of the goal including competitors. The fourth step is implementing & executing strategy. This step is when the plan will hit the streets. Management has to make sure the plan fits with the company. The final step is evaluating and correcting. A good team is always looking for ways to improve the company. The plan must constantly be looked at for improvements.

One company that has a good strategic management process is apple. Steve Jobs and Steve Wozniak founded Apple in 1976. Apples mission statement is as follows: “ Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and...
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