Strategic management involves analyzing an organization's current situation, developing appropriate strategies, and implementing those strategies while evaluating performance. It provides a systematic process for coordinating activities, focusing employees, and adapting to uncertainties. Strategic management is important for organizational success and requires involvement from the board of directors, top management, and all employees to effectively analyze, plan, implement, and evaluate the organization's strategies.

1. Strategic Management An Introduction to Strategy

12. Strategic Management Process Analyzing Current Situation Deciding on Strategies Putting Strategies in Action Evaluating and Changing Strategies Situation Analysis Strategy Formulation Strategy Implementation Strategy Evaluation Chapter 2 Chapter 3 Chapter 4 External Analysis Internal Analysis Chapter 5 Chapter 6 Chapter 7 Functional Competitive Corporate

14. Levels of strategy Competitive: How are we going to compete in our chosen business(es)? Functional What resources and capabilities do we have to support the corporate and competitive strategies? Corporate What direction are we going and what business(es) are we in or do we want to be in?

19. The Role of Top Management Effective Strategic Leadership Exploiting and Maintaining Core Competencies Developing Human Capital Creating and Sustaining Strong Organizational Culture Emphasizing Ethical Decisions and Practices Establishing Appropriately Balanced Controls Determining Organizational Purpose or Vision

21. Elements of a Strategic Vision Use the mission statement as a starting point Develop a strategic vision that spells out a course to pursue Communicate the vision in a clear and exciting manner

24. Examples of Missions Empower people through great software any time, any place, and on any device. Microsoft Corporation

25. Examples of Missions Otis Elevator Our mission is to provide any customer a means of moving people and things up, down, and sideways over short distances with higher reliability than any similar enterprise in the world.

26. Examples of Mission The mission of the American Red Cross is to improve the quality of human life; to enhance self-reliance and concern for others; and to help people avoid, prepare for, and cope with emergencies . American Red Cross

27. Ritz-Carlton Hotels The Ritz-Carlton Hotel is a place where the genuine care and comfort of our guests is our highest mission . We pledge to provide the finest personal service and facilities for our guests who will always enjoy a warm, relaxed yet refined ambiance . The Ritz-Carlton experience enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests (vision)