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Strategic Management, Strategic Leadership: A diverse skillset which works…

- - - - Step Three: Internal Analysis
        
        Accessing organizational strengths and weaknesses
        
        Resources: Company assets that are needed to develop, manufacture, and deliver products to customers. Can be tangible and intangible.
        
        Capabilities: Skills and abilities an organization needs in its business.
        
        Core Competencies: An organization's major value-creating capabilities which determine competitive weapons.
        
        Step Four: Formulate Strategies
        
        Develop and Evaluate
        
        Match organizational strengths and environmental opportunities.
        
        Correct weakness and guard against threats.
        
        Selected strategies appropriate for organizational levels for advantage over competitors
        
        Three Main Types of Strategies
        
        Competitive: A strategy for how an organization will compete in its chosen business or businesses.
        
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        Functional: Strategies used by an organization's functional parts to support competitive strategies.
        
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        Corporate: A strategy that determines what an organization wants to do with businesses it is in or wants to be in.
        
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        Step Five: Implement Strategies
        
        Implementation: Effective fitting of organizational structure and activities to the environment.
        
        Step Six: Evaluate Results
        
        Were the strategies effective?
        
        If not then what adjustments are needed?
      - Environmental Scanning
        
        Economic
        
        Legal
        
        Demographic
        
        Cultural
        
        Technological
        
        Global
      - Market Analysis
        
        Porter's Five Forces
        
        Competitive Rivalry Within an Industry: How intense is rivalry in the industry?
        
        Threat of Substitute Products: How likely is it for consumers to buy a different industry's products instead of ours?
        
        Threat of New Entrants: How likely is it for new competitors to enter the industry?
        
        Bargaining Power of Customers: How much power do customers have?
        
        Bargaining Power of Suppliers: How much power do suppliers have?
        
        Identifying Threats and Opporunities
      - SWOT Analysis
        
        Strengths: Things an organization does well or unique edges over competition.
        
        Weaknesses: Things an organization does not do well or lacks in comparison to competition.
        
        Opportunities: Things that could improve the standing of the company, exists both internally and externally.
        
        Threats: Inside and outside factors that influence the organization negatively