Startgic mangement course Name your product/service as well as organization. Wri

Question

Startgic mangement course

Name your product/service as well as organization.

Write the mission and objectives.

Scan and assess the external environment to determine the strategic factors that pose opportunities and threats.

Scan and assess the internal corporate environment to determine the strategic factors that are Strengths (especially core competencies) and Weaknesses.

Analyze strategic (SWOT) factors to (a) pinpoint problem areas and (b) review and revise the corporate mission and objectives, as necessary.

Generate, evaluate, and select the best alternative strategy in light of the analysis conducted in step 5.

State how you are going to implement selected strategies via programs, budgets, and procedures.

State how you are going to evaluate implemented strategies via feedback systems, and the control

of activities to ensure their minimum deviation from plans

Explanation / Answer

XYZ organization involved in construction business.

mission expert in marine projects and to become among top 3 companies in next decade.

It is not enough to simply tackle problems and react to day-to-day demands.

factors for stratergic management ; Planning programs, aligning resources, and overcoming competitive threats .

this process requires strategic thinking about:

If you were to approach any of these challenges from a purely operational perspective, you might have spreadsheets with market data and analytical reports, competitive analysis, articles or studies on industry projections, survey data about your position in the marketplace, and a set of goals that must be attained. This is all practical, operational – and important – business information. It is not enough, however, to be successful in the future economy.

Strategic thinking requires scanning the environment and understanding what is changing in relation to what you know about your company. It requires envisioning what could be possible and how those possibilities interrelate in a system. Patterns and relationships emerge that help to formulate ideas for planning, innovating, and decision making. When you are thinking strategically, you are also involving others, building on ideas, reframing perceptions and making sense of complexity in the face of change. Strategic thought is not only creative and adaptive but also incorporates logic and practical knowledge to create a balanced approach.

Thinking strategically, you not only paint what is real but what is imagined and possible. You help others envision possibilities. You can do this not only because you have the talent to use the tools at your disposal, but also the desire to create something powerful and multidimensional that will put you heads above the competition.

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