Strategic Management Process: Planning, Implementation, and Evaluation

Identifying the Mission and Objectives

It defines management’s strategic options and helps align the strategy with the environment.

Defining the purpose of the organization

<p>Six</p> Signup and view all the answers

<p>Even the best strategies can fail without proper implementation and evaluation.</p> Signup and view all the answers

<p>One that aligns well with the environment</p> Signup and view all the answers

<p>SWOT analysis stands for strengths, weaknesses, opportunities, and threats.</p> Signup and view all the answers

<p>The purpose of SWOT analysis is to identify a strategic niche the organization might exploit.</p> Signup and view all the answers

<p>Threats are defined as negative external environmental factors.</p> Signup and view all the answers

<p>Opportunities are defined as positive external environmental factors.</p> Signup and view all the answers

<p>Strengths are those activities the firm does well or the unique resources it controls.</p> Signup and view all the answers

<p>Weaknesses are those activities the firm doesn’t do well or the resources it needs but doesn’t possess.</p> Signup and view all the answers

<p>Core competencies are an organization’s major value-creating skills, capabilities, and resources that determine its competitive advantage.</p> Signup and view all the answers

<p>The organization's culture represents its personality.</p> Signup and view all the answers

<p>A strong culture makes it easy for managers to convey the organization’s distinctive competencies.</p> Signup and view all the answers

<p>The next step is implementing strategies.</p> Signup and view all the answers