Final Exam Questions and Case Study - Essay Example

Only on StudentShare

Extract of sample
Final Exam Questions and Case Study

According to Hunger and Wheelen (2000), the strategic management process is composed of four components, namely, strategic analysis, strategic decision, strategic implementation, and strategic review. These components are stages that are carried out sequentially when creating a strategic management plan. It should be followed in the manner shown below: *image taken from Google pictures By dealing with each component of the strategic management process in the way shown in the above figure, organizations can review and re-assess conditions as they emerge, constantly monitoring to be certain the organization has placed itself most favorably in the business environment. Strategic analysis is the most important and first component of the strategic management process. It starts with analyzing the internal and external environments and the situation where in the organization matches those environments (Hunger & Wheelen, 2000). After the completion of the strategic analysis, formulation of strategy follows. This requires establishing the strengths of the organization to choose which strategies can be put into practice. The third stage is strategic implementation. It requires actualizing or executing the formulated strategy (Hunger & Wheelen, 2000). ...
Download paper

Summary

Running Head: Strategic Management Final Exam Essay Questions and Case Study on Strategic Management Name Name of Professor Question 1: Strategic Management Strategic management denotes the process of organizational planning at the optimal level…
Author : lois81

Related Essays

At the Edge and Coffee Nerves
4 pages (1004 words) Essay
case study
3 pages (753 words) Essay
VALUE CHAIN MANAGEMENT EXAM PAPER - 4 OUT OF 8 MINI CASE QUESTIONS.
11 pages (2761 words) Essay
Business and Marketing strategy (case Study)
7 pages (1757 words) Essay
Case study: Facing the Future
11 pages (2761 words) Essay
Autobiographical elements in D.H. Lowrence "The snake & sons and lovers"
3 pages (753 words) Research Paper
Listening Questions
3 pages (753 words) Case Study
final essay
8 pages (2008 words) Essay
Reactions and Reasons
4 pages (1004 words) Essay
Book Report
3 pages (753 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!