What are the frameworks of Strategic Management?
What are the frameworks of Strategic Management?
Chiranjibi Mar. 08, 2018
Strategic management is the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.
The basic framework of strategic process can be described in a sequence of five stages as follows:
- Stage one - Where are we now? (Beginning)
- Stage two: - Where are we want to be? (Ends)
- Stage three - How might we get there? (Means)
- Stage four - Which way is best? (Evaluation)
- Stage five - How can we ensure arrival? (Control)
