Strategic Management Process Strategic management is a process of analyzing the major initiatives that contain resources and performance in external environments, which a firm's top management manages on behalf of the company owners. Weaknesses are inverse activities to the strengths. Come on! This step is completed only when the managers have environmental information about trends, norms and values going out there. To achieve long-term goals and objectives, strategies are used to interact with the environment as significant action plans. It supports the organizations for the identification of competitive advantages and to deal with significant competitive actions. MBA Strategic Management study material includes strategic management notes, strategic management books, strategic management case study, strategic management MCQ, strategic management syllabus, strategic management question paper, strategic management questions and answers, strategic management courses in strategic management pdf form. The following diagram illustrates the five important steps of strategic management process. Explain the strategic management process. You can download the syllabus in strategic management pdf form. The personality of an organization must be kept in mind that is its culture. The findings state that organizations having proper strategic management systems have greater financial results than those having no systems. Explain the qualitative and quantitative tools means for strategic control. Positive environmental aspects are opportunities. Strategic Management Process may be simply defined as the process through which a company formulates its business strategy. The threat is classified as an environmental condition offering important aspects destabilizing organizational competitive situations. Explain the strategic management process. B.Com, M.Com. Introduction to Strategic Management: Definition of Strategic Management, Nature of Strategic Management, Dimensions of Strategic Management, Need for Strategic Management, Strategic Management – Process, Vision, Mission and Business Definition, Models of Strategic Management: Mintzberg, Ansoff, Porter, Prahalad and Gary Hammel, McKinsey’s 7’S Framework: A Tool to Evaluate and Control an Organisation, Strategic Management in Global Environment: Need for Globalization, Different Types of International Companies, Development of a Global Corporation, Complexity of Global Environment, International Culture, Implementing Global Strategies, Competitive Analysis: Competitor Analysis Framework, Rivalry Analysis, Competitive Dynamics, Competitive Rivalry, Industry Analysis: Formulation of Strategy, Five Competitive Forces that Shape Strategy, PESTLE Analysis, Competition and Value, Industry Structure, Technology Lifecycle, Industry Analysis in Practice, Defining the Relevant Industry, Strategic Management Process: Purposes of Strategic Management Process, Steps involved in the Strategic Management Process, Strategic Management Process, Strategy Formulation, Constraints and Strategic Choice, Strategy Implementation, Strategic Control and Assessment, Formulating Corporate-Level Strategy: Balanced Score Card: A Balanced Approach, Grand Strategies: Strategic Alternatives, Growth/Expansion Strategy, Diversification Strategy, Stability Strategy, Retrenchment Strategy, Turnaround Strategies, Combination Strategies, Formulating Business Level Strategy: Porter’s Competitive Strategies, Competitive Advantage, Competitive Advantage Factors, How to Build or Acquire Competitive Advantage? 02– The second step is the analysis of the external environment affecting the organization. MBA Strategic Management study material includes strategic management notes, strategic management books, strategic management course, strategic management case study, MCQ, syllabus, question paper, questions and answers and available in strategic management pdf form. Management keeps closed sights over core competencies of the organization that are valuable skills, resources and capabilities to provide competitive advantages. All the images and videos present on the Business Study Notes are not owned by us, if you found anything under copyrights, please, Investment Analysis and Portfolio Management, All the basic functions of an organization can be demonstrated through. Strategic Management, Fred R. David, Pearson Education, Strategic Management and Business Policy, Thomas L Wheelen, J. David Hunger and Krish Rangarajan, Pearson Education, Strategic Management: An Integrated approach, Hill W.L.