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STRATEGIC MANAGEMENT - II

THE STRATEGIC MANAGEMENT PROCESS

The strategic management process is an eight-step process that encompasses strategic planning, implementation, and evaluation.

• The first step is identifying the organization’s current mission, objectives, and strategies.
  1. Every organization needs a mission, which defines the purpose of the organization. What is the organization’s reason for being in business?
  2. It’s also important to identify the organization’s current objectives and strategies, as well.

Read more: MGT503-Princilpes of Management-Lecture Handout No 26

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ORGANIZATIONAL CULTURE

Process Controls

1. Feed forward control
2. Concurrent control
3. Feedback control

The popularity of the organizational culture topic raises a number of questions. Can we identify cultures? Can culture be aligned with strategy? How can cultures be managed or changed? The best place to start is by defining culture and explaining how it can identify in organizations.

WHAT IS CULTURE?

Culture is the set of values, guiding beliefs, understandings, and ways of thinking that is shared by members of an organization and taught to new members as correct. It represents the unwritten, felling part of the organization. Everyone participates in culture, but culture generally goes unnoticed. It is only when organizations try to implement new strategies or programs that go against basic culture norms and values that they come face to face with the power of culture.

Read more: MGT504 - Organization Theory and Design - Lecture Handout 23