Strategic Management

Stacey (1996) Competitive Strategy

Stacey (1996) Competitive Strategy

Strategy is for broad-based formula as a business to compete, that its goals should be and what policies will be needed to implement these goals. The essence of the development of competitive strategies is relating to the company to the environment.

Stacey (1996), Competitive Strategy

Determine a strategy for transition from scientist to scientist. There is no agreed way to define a strategy for the interpretation of each writer is based on methodological preferences (Robson, 1997). Above definition is an example of Stacey's position on that strategy.

Strategic planning Strategic management is associated with a decision on the strategy and planning on how the strategy will be put into action through:

Strategic Analysis

The above definition of strategic management is the Johnson and Scholes (1993) and, in fact, that the outlines of the strategy formulated and relevant to all organizations, large or small.

Strategic planning is a continuous process within the organization as the people responsible for the success of a strategic plan for planning a desired future, then develop a strategy for what happened. Strategic planning by its very nature is adaptive and the inventor is always developing it's own attitude towards the future. Key environmental factors and their predicted impact on the organization and looked at what the best measures taken by the organization can benefit from these environmental factors.

Business planning and strategic planning are two different things. Business plans are usually for an external audience, where strategic plans are developed for internal purposes. And strategic plans to look at the "big picture, where the business plan looks at some elements of the organization.

The Composition of The Strategic Plan

Strategic plans usually consist of one or several interconnected elements; vision, mission, values, assessment, goals / objectives, strategies and results. They also include strategic management principles and models.

A possible example of the strategic plan as follows: Vision reveals dreams and widely capture future services, markets and structures, but do not go into the system that is very detailed. The mission outlines customers, competitors and markets. It shows a "desired position in the predicted future of the world" and "bulls-eye or target strategy" (Yavitz & Newman, 1982). "The mission should not commit the firm to what he must do to survive, but what he wants to do to thrive" (Ackoff, 1986).

Values that the company believes to be true are meaning the offer guidance to staff on how to operate within the company and ethical standards for all stakeholders. Values set the company apart from its competitors and to show the integrity of the organization. Evaluation of the organization of external and internal forces is that will affect the company in making its mission and vision of success. They can be held in the environmental audit, which includes the following components;

Internal Analysis of Firm

External macroeconomic environment (PEST analysis) SWOT (strengths and weaknesses / opportunities / threats), the problem can also capture business reviews. External factors may range from economic conditions to changes in technology and competition, and show how the threats and ...