However, in order to formulate a successful strategy, it is critical that a proper strategic management process is followed. This process is a step by step process which involves different stages through which organizational strategy has to pass through in order to be effective. Such process involves a detailed situational analysis i.e. the process of taking into account the external as well as internal factors before framing and formulating an strategy. The situational analysis also allows an organization to set its strategic objectives and bases on such objectives; strategies are designed to achieve such strategic objectives. Further, organizations also need to choose the tactics and then subsequently communicating the same to the stakeholders so that the same can easily disseminated to all the relevant stakeholders.
"Public Relations is the profitable integration of organization's new and continuing relationships with the stakeholders including customers by managing all communications contacts with the organization that create and protect the brand and reputation of the organization"(Cawood,1997)
British Petroleum or BP is one of the oldest companies in this line of business having more than 100 years of experience. ...Show more