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The Core of Strategic Management

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Jerick Josh Pascual
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20 views11 pages

The Core of Strategic Management

Uploaded by

Jerick Josh Pascual
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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THE CORE OF

STRATEGIC
MANAGEMENT
Strategic management is a set of managerial decisions and actions
that determine the long-term performance of an organization.
What is strategic management?
Strategic management is the process of developing It involves analyzing the external and internal
and implementing strategies to achieve organizational environments, formulating strategic options, and
goals. implementing chosen strategies.
Basic Elements of Strategic
Management
1 Environmental Scanning
Analyzing the external and internal environments to identify
opportunities and threats.

2 Strategy Formulation
Developing strategic options and choosing the best course of action.

3 Strategy Implementation
Putting strategies into action and allocating resources.

4 Evaluation and Control


Monitoring progress, evaluating performance, and making adjustments.
Environmental scanning

1 Political- Goventment rules

2 Economic- economy

3 Social- changes and customer preference

4 Technological advancement

5 Environmental factors
Strategy formulation

1 Mission- purpose or the reason for its survival

2 Objective- the outcomes of the planned functions

3 Strategies- broad master plan

4 Policies-comprehensive guideline
Strategy formulation

Corporate Level Business Level


Strategy Strategy
Determines the overall Focuses on competing in a
direction of the particular industry or
organization. market.

Functional Level Strategy


Concerns how specific functional areas (e.g., marketing,
finance, human resources) will support the business-level
strategy.
Strategy
implementation
Resource Allocation
Allocating resources to support the chosen strategies.

Organizational Structure
Designing an organizational structure that facilitates the
implementation of strategies.

Leadership and Culture


Creating a leadership team and organizational culture
that support strategic goals.
Strategy evaluation

1 2
Financial Performance Competitive Advantage

Analyzing profitability, growth, Assessing the organization's


and return on investment. ability to outperform its
competitors.

3 4
Customer Satisfaction Employee Engagement

Measuring customer satisfaction Evaluating employee morale,


and loyalty. motivation, and productivity.
EVALUATION AND
CONTROL

Performance Feedback and Learning


Measurement
Tracking and measuring progress Identifying areas for improvement
against strategic goals. and making adjustments to
strategies.

Strategic Control
Ensuring that strategies are being
implemented effectively and that
adjustments are made when
necessary.
Achieving sustainable competitive
advantage
The future of strategic
management

Strategic management is constantly evolving to meet the


challenges and opportunities of a changing world. Organizations
need to be adaptable, innovative, and responsive to succeed in the
future.

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