What does the strategy process involve? Support your answer with the use of practical examples.

The foundation planning for the organisation that was set in the early 1970s was severely shocked by the crisis, changing the technology, increasing global competition and environmental issue in 1970s and 1980s. Due to all these factors, managers were forced to re-analise their organisation to survive in the competitive market. So, they developed a strategic management.

Strategic planning is a management tool, used to help an organization do a better job and focus its energy, to ensure that members of the organization are working toward the same goals, to asses and adjust the organization’s direction in response to a changing environment. Strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future. Therefore it ensures the most effective use is made of the organisation’s resources by focusing the resources on the key priorities. It also provides a base from which progress can be measured. With strategic planning, the purpose of

Threats are the external factor that may prevent the organisation from achieving its strategic goals. Opportunities are the external factors that have the potential to help the organisation achieve its strategic goals. The external environment includes competitors, resources, technology, and economic conditions that influence the organisation. Eastman Kodak Company can illustrate the threat and opportunity. Opportunities arose primarily from Kodak’s technological strength. Digital imaging will be fast-growing market as the traditional photography business continues to slow. But Kodak faced the biggest threat when other company like Fuji and Canon start emerging in the film marketer and digital market.’

Managers may use persuasion, new equipment, changes in organisation structure, or a reward system to ensure that employees and resources are used to make formulated strategy a reality. Once a strategy is selected it is implemented through changes in leadership, structure, information and control systems, and human resources. Strategy is essential for effective strategic management. Without effective implementation, even the most creative strategy will fail.

After identifying the SWOT for the internal and external environment, managers starts to define a new goal and mission for the organisation to excel in their market. The next step is the formulation of the new strategy to achieve the new goal and mission. Strategy formulation includes the planning and decision-making that lead to the establishment of the organisation’s goals and of specific strategic plan.

However, planning always begins with the support and commitment of top management, as Bill Gate

Some topics in this essay:
Gates Microsoft, , Fuji Canon, IBM Hewlett-Packard, Hewlet-Packard Threats, Kodak Company, Contract Manufacturer, Venture Corp, Venture Corporation, strategic management, strategic planning, external environment, strategic goals, strategic plan, internal external environment, strategy formulation, opportunities threats, organisation structure, internal analysis, threats external, organisation’s strengths weaknesses, achieving strategic goals,