Microsoft-Strategic Management Process
Strategic Management Process Strategic management analyzes the major steps taken by the firms or organization top management keeping the owner in confidence, involving resources and performance in external environments. It specifies the organization’s mission, vision, objectives; developing policies and plan. It also contains the steps needed to achieve the objective through proper planning. Five major steps for company to follow while developing strategy (Burgelman et al, 2001) · Assessing the competitors and market condition · Goal setting and strategy making according to company’s current position · Reassessing the goals regularly (Quarterly) to show the progress of implementation · Searching for the alternatives or change in the strategy · Evaluating and controlling the business process. Importance of strategic management process For company to operate under variable market conditions, it is necessary that it has p