This website uses cookies to ensure you have the best experience. Learn more

Strategic Management Process Mgt/498 Essay

536 words - 3 pages

Strategic Management Process

Mgt/498
November 10, 2015
UOP

Strategic Management Process
In this summary I will describe the primary components of the strategic management process, and indicate why a strategic management process is needed for a company. The primary components consist of environmental scanning, strategy formulation, strategy implementation, and strategy evaluation. Lastly, I will talk about my previous job as a Marine and describe the strategic management process that was used.
First environmental scanning from my thoughts is the similar to using a swot analysis. As an organization, you want to know where your strength lie so you can maximize it. Same goes for your weakness once it is identified the organization could figure out how to deal with the problem. Environmental scanning also allows ...view middle of the document...

According to MSG (2015),”Strategy implementation includes designing the organization's structure, distributing resources, developing decision-making process, and managing human resources.”
Finally is the Evaluation of the strategy. To receive a proper evaluation of an organization the strategy and implementation must meet the objectives of the company. These are the primary components of a strategic management process. Starting with the first step here are the reasons why it’s important. If an environmental scan weren't done, that organization could be waisting a lot of time and money. For example, if a similar company to them tried the same process and it didn't work but later on found that doing it another way was much more effective instead of starting from scratch they could have taken what they get from that company and make it better. In an organization without a process to obtain its end goal is chaos knowing how and what tools you need to formulate strategies make and break an organization. A lot of organizations have great plans and ideas but if it’s not implemented what’s the point or better yet if it’s not implemented your ideas correctly in the first two steps are useless. Evaluation is one of the most important if you do manage to get the steps down messing up this one could also deter you from reaching the organization's objectives.
In the Marine Corps, this process is followed straight down the list the difference between how the military and a civilian organization do things through my knowledge is if in combat these things are still done but just a faster paste under a lot of stress. Also, it's not only on a huge scale this is done in day to day operations in the Corps making it a very well-oiled machine.

Reference
MSG. (2015). strategic management process - meaning, steps and components. Retrieved from http://www.managementstudyguide.com/strategic-management-process.htm

Other Papers Like Strategic Management Process Mgt/498

Strategic Management Process Essay

934 words - 4 pages of State, n.d.). The predominant language spoken in Canada is English. The country Gross Domestic Product (GDP) in 2008 was $1.2 trillion, Canada export, and imports to the United States of American range from $264 billion to over $347 billion, which provide the country with economic stability. Strategic Management Process Strategic management “the set of decision and action that result in the formulation and implementation of plans

Analysis of Lto and the Strategic Management Process

1459 words - 6 pages Pervasive studies regarding strategic management have inundated the business world and have conventionalized strategic management. In order to colonize a successful competitive frontier, leaders should adopt and institutionalize a strategic architecture to outline the components and structure of the strategic process (Mansfield, Fourie & Gevers, 2005). Strategic Architecture The strategic architecture emphasizes the extension and inclusion

Strategic Management Process

407 words - 2 pages Strategic Management Strategic management basically aims at identifying and describing the strategies, which would be utilized by the managers of the organization, in order to attain better performances as well as competitive advantage for the company. Additionally, it is also considered to be a set of decisions as well as actions, which are taken by the managers or the top management in order to attain the objectives of the organization. Since

MGT 230 UOP Tutorial / mgt230dotcom

568 words - 3 pages social responsibility have had on management planning at BP. Provide at least one example for each. • Analyze at least three factors that influence the company's strategic, tactical, operational, and contingency planning. Format your paper consistent with APA guidelines. ......................................... MGT 230 week 4 Individual Assignment Organizational Structure Paper Write a 1,050- to 1,400-word paper in which you select

Strategic Management Paper

544 words - 3 pages Strategic Management Process Sandra Mobley MGT/498 March 24, 2014 John Vincent Strategic Management Process The process of strategic planning is something all successful businesses use to establish a solidified structure with the potential for financial growth. Stakeholders have the responsibility to understand and interpret the strengths, weaknesses, and risks involved with the company. The business term for this process is referred

Mgt 521 Final Exam Latest Question Answers

1870 words - 8 pages outward is known as ________. • open innovation • strategic partnering • knowledge management • organizational osmosis To download the complete paper click MGT 521 Complete Assignments 21. Which business practice would likely encourage ethical behavior? • Intense competition for valued rewards • Cultural values for obedience to authority • Strong emphasis on individual productivity • Strong emphasis on

Mgt 521 Final Exam Latest Question Answers

1870 words - 8 pages outward is known as ________. • open innovation • strategic partnering • knowledge management • organizational osmosis To download the complete paper click MGT 521 Complete Assignments 21. Which business practice would likely encourage ethical behavior? • Intense competition for valued rewards • Cultural values for obedience to authority • Strong emphasis on individual productivity • Strong emphasis on

Mgt 325 Week 2 Discussion Questions 1 (Social Responsibility Pricing)

370 words - 2 pages -325 WEEK 4 DQ 1 ( Risk Management ).doc MGT-325 WEEK 4 DQ 2 ( Mitigated Risks ).doc MGT-325 WEEK 5 DQ 1 ( Audit ).doc MGT-325 WEEK 5 DQ 2 ( Green Supply Chain ).doc MGT-325 WEEK 5 FINAL ASSIGNMENT ( Peregrine Trucking Co. ).doc Business - General Business MGT 325 Week 1 DQ 1 Strategic Advantage In transportation management, one component to explore is how an organization’s transportation activity can help to achieve a

Ethical and Social Responsibility

1094 words - 5 pages Ethics and Social Responsibility Paper Ralph L. Kendrick MGT/ 498 September o4, 2013 Glenn O'Steen Ethics and Social Responsibility Paper Ethics and social responsibility has to be a part of any organization’s strategic management plan. Without the presence of these key elements the company could face some tough times. In this paper, the author will explain the ethical and social responsibilities of organizations as they relate to

Ethics Paper

829 words - 4 pages Ethics Paper Christine Harris MGT/498 April 6, 2013 Professor John Wolcott Ethics Paper The role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas vary depending on the company’s values. Not all companies have the same ethical principles and moral values. In the process of developing a strategic plan a business should take into consideration the major stakeholder’s needs

Human Resource Management

3284 words - 14 pages the strategy process. Instead, top management will welcome HR input because it will have a clear understanding of how HR affects the bottom line from a business and/or strategic John P. Righeimer Maverick Energy PH: 815-498-3855 12 standpoint. By inter-locking HR measures with items concerning the ongoing business, HR becomes aligned with strategy through dependent tasks that are accounted for interdependently. In summary, an

Related Essays

Mgt/498 Strategic Management Essay

1094 words - 5 pages Strategic Management Process Paper Miguel Valdez MGT/498 August 17, 2015 Paul Kramer Strategic Management Process Paper Describe the primary components of a strategic management process, and indicate why a strategic management process is needed for a company. Strategic Management is a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy

Strategic Management Process Paper

533 words - 3 pages Strategic Management Process Paper John Vincent MGT/498 December 12, 2012 Strategic management is a set of managerial decisions and actions that determines the long run performance of a corporation (Hunger & Wheelen, 2010). It is all about identifying and picturing the strategies used for better performance and gaining a competitive advantage for the corporation. In order for this to take place the manager must have the knowledge to

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

Strategic Management Process Paper

661 words - 3 pages Strategic Management Process Paper “Strategic management is a set of managerial decisions and actions that determines the long-run performance of a corporation. It emphasizes the monitoring and evaluating of external opportunities and threats in light of a corporation’s strengths and weaknesses.” (Wheelen & Hunger 2010). It short it is the planning, environmental scanning, and industry analysis for the company. It can be broken out in four