This document provides an overview of strategic management and the strategic management process. It defines key concepts like strategy, strategic management, mission, vision, objectives and the strategic management model. The strategic management process involves environmental scanning, strategy formulation, strategy implementation, and evaluation and control. It also describes the individual steps in each stage of the process.

1. MODULE 1:
STRATEGY
AND PROCESS
Prepared & presented by:
Ms. Himani

2. Layout
◦ Historical perspective of Strategic management
◦ Conceptual framework for strategic Management
◦ Concept of Strategy and Strategy Formation Process
◦ Stakeholders in business –Vision, Mission and Purpose
◦ Business definition
◦ Objectives and Goals
◦ The SM model
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3. What is strategy?
◦ The term first gained currency at the end of the 18th
century, and generally sought to deceive an enemy,
◦ with plans the general made for a campaign, and
◦ with the way the general moved and disposed his forces in
war.
◦ Strategy is a set of key decisions made to meet
objectives.
◦ A strategy of a business organization is a
comprehensive master plan stating how the organization
will achieve its mission and objectives.
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5. What is strategic management?
◦ Strategic management is the continuous
planning, monitoring, analysis and assessment
of all that is necessary for an organization to
meet its goals & objectives.
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6. Video
◦ ......OthersCollegemotivational videosVID-20121113-WA0009.mp4
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15. Definitions:
◦ Mission: Communicates a sense of intended direction
to the entire organization.
◦ Vision: A description of what an organization would
like to achieve or accomplish in the mid-term or long-
term future. It is intended to serves as a clear guide
for choosing current and future courses of action.
◦ A mission is different from a vision in that the former
is the cause and the latter is the effect; a mission is
something to be accomplished whereas a vision is
something to be pursued for that accomplishment.
◦ Objectives: A specific result that a person or system
aims to achieve within a time frame & with available
resources.
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17. ◦ Why do some firms succeed while
others fail?
◦ A central objective of strategic
management is to learn why this
happens.
◦ What is strategy?
◦ An action a company takes to attain
superior performance. In this
context it means allocations of
resources. Strategic Management
studies the ways to make superior
performance.
◦ What is the strategic management
process?
◦ The process by which managers
choose a set of strategies for the
enterprise to pursue its vision. 17
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18. Strategic Management
◦ What's the use of running if you are not on
the right road- German proverb.
◦ If you do not know where you come from,
you do not know where you stand, if you do
not know where you stand, you do not know
where you go- Chinese Proverb.
◦ To run in a right road to reach your
destination is strategy.
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20. Environmental Scanning
◦ Monitoring, evaluating and disseminating
information from the environment to key
people within the corporation.
◦ Scan via SWOT analysis:
◦ Look for opportunities/threats in the external
environment
◦ Look for strengths/weaknesses in the internal
environment
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21. Strategy Formulation
◦ The process of developing long-range plans to deal effectively with
environmental opportunities and threats in light of corporate
strengths and weaknesses. Composed of: Mission Objectives
Strategies Policies.
◦ Mission: The purpose or reason for the corporation’s existence. It
tells who the company is, what they do as well as what they’d like
to become.
◦ Objectives: The end results of planned activity. They state WHAT is
to be accomplished by WHEN. They should be quantified, if
possible. Should be specific, measurable and obtainable.
◦ Strategies: A strategy is a comprehensive master plan stating
HOW the corporation will achieve its mission and objectives.
◦ Policies: Broad guidelines for making decisions.
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22. Strategy Implementation
◦ The process of putting strategies and policies into
action through the development of:
◦ Programs - statements of activities or steps needed to
accomplish a single-use plan.
◦ Budgets - statements of a corporation’s programs in
monetary terms.
◦ Procedures - systems of sequential steps or techniques
that describe in detail how to perform particular tasks or
jobs.
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23. Evaluation and Control
◦ The process of monitoring corporate activities and
performance results so that actual performance can
be compared with desired performance.
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