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Unit 4 Strategic Management - Coggle Diagram
Unit 4
Strategic Management
Meaning and Importance
:pencil2:
Concept
Defining tasks to be done Objectives and goals
both in short-term and long term
Meaning
It generated management process conviction that If the executives can follow the guidelines or strategies that have already been defined can lead to success as targeted.
The organization's purpose is systematic management that must rely on the leadership's vision and planning. step by step
Importance
Environment
Resource allocation
Future goals
Operations to achieve objectives
Current condition
1. (Direction Setting)
Where do we want to be?
Mission
Goal
Vision
3. (Strategy Formulation)
How do we get there?
(Corporate Strategy)
(Business Strategy)
(Operational Strategy) ! Big data !
Volume
Variety
Velocity
5. (Evaluation and Control)
(Strategic Control)
(Monitoring, Control and evaluation)
4. (Strategy Implementation)
What do we have to do or change in order to get there?
(Organizational Restructuring)
(System improvements and
human resource development)
(Resources Allocation)
(Strategic Deployment)
2. (Environment Scanning)
Where are we now?
Internal Analysis
External Analysis
(PEST Analysis)
(Economic Environment - E)
(Sociological Environment - S)
(Political Environment - P)
(Technology Environment - T)
SWOT Analysis
(Opportunity–O)
(Weakness–W)
(Strength–S)
(Threat-T)