Strategic Management, Its Components and Levels

Strategic management refers to the process through which the vision of a business organization is defined. It includes the processes of planning, directing, and controlling all the activities of an organization in order to achieve the desired state or position (Tyndall & Cameron, 1990). Strategic management is comprised of nine primary tasks which include mission formulation, development of a company profile, assessment of the external environment, analysis of options available for a company, identification of desirable alternatives, selection of grand strategies and long term objectives, development of short term strategies and annual objectives, Implementation of strategic choices and strategic process evaluation.

Let our writers help you! They will create your custom paper for $12.01 $10.21/page 322 academic experts online See more

The three levels of strategy in organizations are departmental or functional level, business level and corporate level. An example of functional level is marketing strategy while product line is an example of business level strategy. Corporate level is represented by business selection as an example (Barney, 2011). The implication of viewing strategic management as a process is that it enables organizations to prepare for the process by providing relevant resources such as financial resources.

References

Barney, J. (2011). Gaining and Sustaining Competitive Advantage. Boston: Prentice Hall.

Jalan, P. (2005). Encyclopaedia Of Economic Development, Volume 3. New Dheli: Sarup & Sons.

Organizational Stakeholders, Management and Ethics. (2012). Web.

Resource Based View – The VRIN Characteristics. (2012). Web.

Order now, and your customized paper without ANY plagiarism will be ready in merely 3 hours! Let's go!

Riley, J. (2012). Value Chain Analysis. Web.

Tyndall, G., & Cameron, J. (1990). Strategic Planning and Management Guidelines for Transportation. New York: Transportation Research Board.

Cite this paper

Select style

Reference

Paperroni. (2021, September 23). Strategic Management, Its Components and Levels. Retrieved from https://paperroni.com/strategic-management-its-components-and-levels/

Work Cited

"Strategic Management, Its Components and Levels." Paperroni, 23 Sept. 2021, paperroni.com/strategic-management-its-components-and-levels/.

1. Paperroni. "Strategic Management, Its Components and Levels." September 23, 2021. https://paperroni.com/strategic-management-its-components-and-levels/.


Bibliography


Paperroni. "Strategic Management, Its Components and Levels." September 23, 2021. https://paperroni.com/strategic-management-its-components-and-levels/.

References

Paperroni. 2021. "Strategic Management, Its Components and Levels." September 23, 2021. https://paperroni.com/strategic-management-its-components-and-levels/.

References

Paperroni. (2021) 'Strategic Management, Its Components and Levels'. 23 September.

Copy this

This essay was added to the database by its author, a student ready to help you with your studies. Feel free to refer to it in your text, but do not forget to cite it appropriately. In case you are the one who wrote this paper, and you no longer want it posted on Paperroni, please let us know using a special form.

Find out the price of your paper