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Strategic Model
Strategic Management Model
| Question | Answer |
|---|---|
| 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 |
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