The Strategic Management Process
For the GWC USA Inc company, understand proper strategic management process is important for the company to survive. First off you need to identify the organizations current mission, goals and strategies then go into the SWOT analysis which includes identifying the company’s internal analysis which is their strengths, and weaknesses and then the external analysis which is their opportunities and threats. Then you have to formulate strategies, implement these strategies and evaluate the results.
This is a six step process that encompasses strategic planning, implementation, and evaluation which involves step one which is to identify the organization’s mission, goals and strategies. A mission is the scope of its products and services and the goals is the measurable performance targets. Step two is to do an internal analysis and assess an organizations resources and capabilities such as financial, physical, human and intangible assets to use or develop products and services to the customer including core competencies such as capabilities, and skills that provide a competitive edge. Identify organizational strengths and weaknesses by seeing what unique resources or activities the organization does well and the activities that the organization needs or does not have would be the weaknesses. Next you need to conduct an external analysis by examining the specific and general external environments, assess the trends and changes, and focus on identifying opportunities and threats. Opportunities have a positive trend in
Opportunities have a positive trend in external environment and threats have a negative trend in external environments. Step four is to formulate strategies by correcting weaknesses and guard against the threats that are present along with developing and evaluating strategic alternatives. Step five in the strategic management process involves implementing the strategies by involving all members of the organization and using strategies that will only succeed if they are implemented properly. Step six which is the final step is used to evaluate the results and review the effectiveness of the strategies and along with being able to determine if any adjustments are needed.