Strategic Management Made Simple by Felina C. Young

CHAPTER 1

STRATEGIC MANAGEMENT

• Is a process of creating a strategy? It includes the strategic process which is primary objective is to organize its policies, priorities and success

The Strategic Management Process

• Strategic analysis – ability of an organization to gather data to know its abilities also foresight and to know the SWOT of company and competitor.
• Strategic decision-making – it is related to strategic analysis. After the analysis next is decision making. It is a cognitive process of competently.
• Strategy formulation – it involves company development of strategies for acquiring its organization competitiveness.
•  Strategy implementation – strategy put into action. It is implementation of e strategy they choose to set its competitive advantage.
• Strategic control – it is the monitoring of the organization performance. Its accomplishment its effect to the company
• Strategic planning – cycle of process for setting its objectives and goals for an organization to achieve.

Types of Strategic Planning

• Medium long-range plan – 3 to 5 years plan
• Annual/ yearly plan – short-term plan for only 1 year.

Organizational vision - Is a strategic direction to help the organization to achieve its goals.

Mission statement -It includes the organizations purpose, also includes what organization does, for whom, and how it does.

Organizational goals and objectives – to put into action the mission statement is a goal and objectives.

Values and value system – values are the ideals of society toward its people of the group. These values may be positive or negative.

Value system – includes values, dreams, and inspirations, philosophies, expectations, ethical practices, leadership, and management style interest.

Organizational climate – is a regular and continuous pattern of attitude and behavior that employees show in an organization.

Organizational culture – is a wide range of social phenomenon, includes behavior, beliefs, values, rituals, ceremonies to define an organization character and norms.

Chapter 2

Scanning Environment

• Involves scanning the internal environment by organizational structure, monitoring the environment on how employees interact with each other, while external environment includes the customers, competitors, and suppliers.

Modes of Environmental Scanning.

•  Undirected viewing- an individual who have a lot of stock knowledge.
• Conditioned viewing- its direct viewing of information of an individual to a fact, and data to be able to asses their general impact on the organization.
• Informal search – an individual seeks for information to advance knowledge of a particular issue.
• Formal search – an individual exerted an effort is deliberate and planned.

SWOT Matric Analysis[pic 1]