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Strategic Model

Strategic Management Model

QuestionAnswer
Environmental Scanning (what does this involve) Gathering information
Strategy Formulation (what does this involve) Developing Long-Range Plans
Strategy Implementation (what does this involve) Putting Strategy into Action
Evaluation and Control (what does this involve) Monitoring Performance
External: (what does this involve) Opportunities and Threats
Internal: (what does this involve) Strengths and Weaknesses
Natural Environment: (what does this involve) Resources and Climate
Societal Environment: (what does this involve) General Forces
Task Environment: (what does this involve) Industry Analysis
Mission: (what does this involve) Reason for existence
Objectives: (what does this involve) What results to accomplish by when
Strategies: (what does this involve) Plan to achieve mission and objectives
Policies: (what does this involve) Broad guidelines for decision making
Programs: (what does this involve) Activities needed to accomplish a plan
Budgets: (what does this involve) Cost of the programs
Procedures: (what does this involve) Sequence of steps needed to do the job
Performance: (what does this involve) Actual results
External (name sub parts) Natural Environment, Societal Environment, Task Environment
Internal (name sub parts) Structure, Culture, Resources
Strategy formulation (name sub parts) Mission, Objectives, Strategies, Policies
Strategy implementation (name sub parts) Programs, Budgets, Procedures
Evaluate and Control (name sub parts) Performance
Environmental scanning (name sub parts) External and Internal
Created by: 514734223