Strategic Management Process
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- Date Submitted: 04/23/2011 04:40 PM
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Strategic Management Process
Strategic management process is the process an organization uses in defining the building blocks that are necessary to achieve success. The primary components of the strategic process begin with management analyzing the environment which refers to collecting and scrutinizing the internal and external factors that will have an impact on the organization . The next step is strategy formulation how to accomplish the organizations objectives and what is the purpose of the organization. Implementation is the next step and that refers to putting the strategies to action through distribution, human resources, and a decision plan. Finally, evaluating the process which includes examining internal and external factors do they meet the organizations objectives. The strategy process works together and one without the other will lead to failure within the organization.
Strategic Need
Strategic process is important in business without a course of action there is room for failure. A business does not start with the goal of failure although with a course of action it does not guarantee absolute success. The strategic process will evolve as the needs of the business change due to competition, the economy, and the needs of the consumers.
Starbucks
Starbucks is a company that has seen many changes. The notion of being a brand known for its specialty blends of coffee has had to strategically plan changes to remain successful. From closing stores overseas, re-committing to the consumer, remembering their partners (employees’) and going back to the start of brewing a specialty coffee, “one cup at a time” (Starbucks.com), as well as expanding to the changing needs of society and technological advances. Those changes had to be made and the strategic process that Howard Schultz, CEO made was detrimental to the continued success. By using the four steps outlined above Howard Schultz was able to revive Starbucks. As there is a saturated...
Strategic management process is the process an organization uses in defining the building blocks that are necessary to achieve success. The primary components of the strategic process begin with management analyzing the environment which refers to collecting and scrutinizing the internal and external factors that will have an impact on the organization . The next step is strategy formulation how to accomplish the organizations objectives and what is the purpose of the organization. Implementation is the next step and that refers to putting the strategies to action through distribution, human resources, and a decision plan. Finally, evaluating the process which includes examining internal and external factors do they meet the organizations objectives. The strategy process works together and one without the other will lead to failure within the organization.
Strategic Need
Strategic process is important in business without a course of action there is room for failure. A business does not start with the goal of failure although with a course of action it does not guarantee absolute success. The strategic process will evolve as the needs of the business change due to competition, the economy, and the needs of the consumers.
Starbucks
Starbucks is a company that has seen many changes. The notion of being a brand known for its specialty blends of coffee has had to strategically plan changes to remain successful. From closing stores overseas, re-committing to the consumer, remembering their partners (employees’) and going back to the start of brewing a specialty coffee, “one cup at a time” (Starbucks.com), as well as expanding to the changing needs of society and technological advances. Those changes had to be made and the strategic process that Howard Schultz, CEO made was detrimental to the continued success. By using the four steps outlined above Howard Schultz was able to revive Starbucks. As there is a saturated...