Strategic Management Process Essay

648 words - 3 pages

Strategic Management Process

Strategic Management Process
Every company wants to achieve long term goals and objectives. Every company needs a strategic plan in order to achieve that. A company must evaluate the demands and expectations of their stakeholders when forming a strategic plan. The discussion for this paper will be about the main components of a strategic plan process and explaining why it is needed for a company to achieve long term goals and objectives. This paper will also discuss the strategic management process of National Aeronautics and Space Administration (NASA) Company.
Four Phases
According to (Wheelen & Hunger, 2008).) “strategic management is a set of ...view middle of the document...

They can do this by thinking strategically. Last is phase four which is strategic management. It would be useless without all the input from all the levels of management. This involves the input of lower-level managers, top management, employees from various departments, and workgroups. Strategic management allows a company the ability to establish a clear direction for the future of it.
NASA
NASA was founded and established on July 29, 1958. This company has scientific and technological breakthroughs that have improved the environment, world, and society. NASA’s strategic management process has three parts to it. The first section is strategic planning, implementation, execution, and performance evaluation. The second part is the strategic management schedule. The last part is documentation requirements. NASA feels that their activities will provide an ongoing process for their Agency to help make informed decisions about their long term goals, near term- activities, and institutional capabilities that are in lining up customer requirements. NASA‘s strategic management process...

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