9 Step Strategic Management Process

The process takes place in the following stages:

  1. The Strategic Planner has to define what is intended to be accomplished (not just desired). This will help in defining the objectives, strategies and policies.
  2. In the light of stage I, the result of the current performance of the organization are documented.
  3. The Board of Directors and the top management will have to review the current performance of the documented.
  4. In view of the review, the organization will have to scan the internal environment for strengths and weaknesses and the external environment for opportunities and threats.
  5. The internal and external scan helps in selecting the strategic factors.
  6. These have to be reviewed and redefined in relation to the Mission and Objectives.
  7. At this stage a set of strategic alternatives and generated.
  8. The best strategic alternative is selected and implemented through programmed budgets and procedures.
  9. Monitoring, evaluation and review of the strategic alternative chosen is undertaken in this mode. This can provide a feedback on the changes in the implementation if required.