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The document outlines the strategic planning process and its key elements. It describes the three main stages as understanding strategic position, strategy choice, and strategy in action. It then explains the four steps of the strategic management model as establishing strategic directions, strategy formulation, strategy implementation, and strategic controls and review. Finally, it discusses the assumptions, advantages, and disadvantages of the strategic planning model.

Strategic Management BHRM 31124 R.A.Ishanka Chathurani Lecturer (prob) Department of Human Resource Management Faculty of Commerce & Management Studies University of Kelaniya

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Strategic management process involves complex cross-functional relationships of organizational components geared towards attainment of set objectives. It is a veritable tool of strategy for navigating the complexity of applying the tenets of mission and vision of organizations. This paper discusses, explains and relates how leadership of organizations harnesses resources in series of decisions and actions that determine performance and results. The complex and contingency nature of strategic management process blends an agenda resource-based, structure-conduct-performance, agency and other theories. Literature survey on the subject reveals emphasis on ways to simplify and understand the multifarious nature of strategic management process put to work for attainment of common set objectives. The challenge and burden of strategic management process rest on the shoulders of organizational leadership or senior executives charged with decisions and actions. The paper breaks down this process into strategic formulation; strategic implementation; and, strategic evaluation and control. An exercise is designed for senior executives to practice on the workings of strategic management process in groups representing organizational situations.

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