The document discusses strategic management and the strategic planning process. It defines key concepts like strategy, competitive advantage, and strategic leadership. It then outlines the five steps of the strategic management process: 1) defining the mission and goals, 2) external analysis, 3) internal analysis, 4) selecting strategies, and 5) implementing strategies. It provides details on how to conduct external and internal analysis, and explains how to align strategies using SWOT analysis and ensure they form a coherent business model.
1. LO1
Examine the framework of strategic
management process and identify
the context within which strategies
are formulated. Examine the
importance of mission statements.
20. Group Assignment 1
• Craft a mission statement for a company your
group agrees on (assume you are the
executives) (i.e. could be the company you
work in), which includes:
– The reason for existence – what an organization
does
– A statement of some desired future state (vision)
– A statement of key values that an organization is
committed to (values)
– The measurable desired future goals (goals)