Stages Of Strategic Management

The strategic management process represents a logical, systematic, and objective approach for determining an enterprise's future direction. However, a clear separation is needed between the managerial process by which an organization formulates, evaluates, implements, and controls the relationships between its objectives, its strategies, and its environment.

Researchers usually distinguish three stages in the process of strategic management: strategy formulation, strategy implementation, and evaluation and control.

Strategy Formulation

Strategy formulation is the process of establishing the organization's mission, objectives, and choosing among alternative strategies. Sometimes strategy formulation is called "strategic planning."


Previous page Next page
The Nature And Value Of Strategic Management
The information on this page may not be reproduced, republished or mirrored on another webpage or website.
Copyright 1998-2014 24xls.com