In this essay we will discuss about the process which helps to make corporate agenda successful. After reading this essay you will learn about:- 1. Identification and Choice 2. Strategic Control 3. Creating the Excitement. Essay # 1. Identification and Choice of Corporate Agenda: The starting point for identifying and choosing an agenda is a correct understanding of complex, interacting [...]
The following points highlight the five main stages involved in the process of strategic planning. The stages are: 1. Objectives 2. SWOT Analysis 3. Gap Analysis 4.Strategy Alternatives 5.Strategy Implementation. Stage # 1. Objectives: Both Drucker and Ansoff suggest that the overall objective of the firm is not profit maximisation but long-term profitability. Ansoff has identified a 'hierarchy of objectives' [...]
Some frequently asked exam questions on strategic management are as follows: Q.1. Write a short note on strategic decision making framework. Ans. The widely accepted framework for making strategic decisions may be illustrated as under : Typically, it urges managers to proceed sequentially through the following logical steps : 1 Analyse the environment, 2 Form broad judgments by synthesizing information [...]