Strategic Management Process.

Table of Contents 1. basis1 2. Environmental Scanning1 2.1Societal Environment2 2.2 chore or industrial Environment5 2.3Internal Environment5 3. Outward-In-Approach6 4.Societal Environmental analysis7 4.1PEST Analysis7 4.2Scenario Analysis10 5.Industry or T acquire Environment10 5.1Porters Approach10 5.2Strategic Group13 5.3Competitive Intelligence14 6.Internal Environment15 6.1Resource-Based Approach15 6.2Value Chain Analysis16 7.SWOT Analysis19 8.Conclusion20 Reference 1. Introduction Strategic management has four basic elements such as milieual scanning, strategic formulation, strategic implementation and evaluation and control. give 1 shows the interaction between these elements. queer 1. Basic Elements of the Management shadow (Source: Wheelen & Hunger, 2002) 2. Environmental Scanning Wheelen & Hunger (2002) expound surroundal scanning is the monitoring, evaluating and disseminating of information from the external and internal purlieus to a ccount majuscule deal at heart the corporation. Its purpose is to identify strategic factors, i.e. those factors which will ease up a long border impact on the organization. A key challenge in environmental scanning is the monitoring of the social environment. The societal environment includes economic, technological, socio-cultural and political-legal forces that do not touch on the short-run activities of the hearty, provided can and do influence long run decisions. Exhibit 2 depicts key environmental variables. The task environment includes those elements that instanter affect the corporation.

These are governments, local communities, suppliers, competitors, customers, cre ditors, labor unions, special-interest group! s, and cope associations. A corporations task environment is typically the industry within which that firm operates. Industry analysis refers to an in-depth examination of key factors within a corporations task environment. Both the societal and task environments must be monitored to detect the strategic factors that are likely to fox a strong impact on corporate mastery or failure. Strategic analysis gives the clear picture of the changes in the environment and how these changes affecting the organization and its activities. It gives idea about the resources and competencies present and their contribution... If you ask to get a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: How it works.