Strategic Management Critical Tasks 1 2 3 4

Strategic Management Critical Tasks : 1. 2. 3. 4. 5. 6. 7. 8. 9. Formulate the company`s mission, including broad statement about its purpose, philosophy, and goal Conduct an analysis that reflects the company`s internal conditions and capabilities Assess the company`s external environment, including both the competitive and general contextual factors Analyze the company`s options by matching its resources with the external environment. Identify the most desirable options by evaluating each options in light of the company`s mission Select a set of long-term objectives and grand strategies that will achieve the most desirable options Develop annual objectives and short-term strategies that are compatible with the selected set of long-term objectives and grand strategies Implement the strategic choices by means of budgeted resources allocations in which the matching of tasks, people, structure, technologies and reward systems is emphasized Evaluate the success of the strategic process an input for future decision making @G, D. Lee, Kyungnam Univ. 5