The Strategic Management Model

The strategic management process can best be studied and applied using a model. every moodel represents some kind of process. The framework illustrated in above is a widely accepted, comprehensive model of the strategic management process. This model does not guarantee success, but it does represent a clear and practical approach for formulating, implementing and evaluating strategies. Relationships among major compoents of the strategic management process are shown in the model, which appears in all subsequent chapters with appropriate areas shaped to show the particular focus of each chapter.

These are three important questions to answer in developing a strategic plan :

• Where are we now? 
• Where do we want to go ? 
• How we are going to get there ? 

Identifying an organizations vision, mission,objectives, and strategies is the logical starting point for strategic management because a firm's present situation and condition may replude certain strategies and may even dictade a particular course of action.
Every organization has a vision, mission, objectives and strategy, even if these elements are not consciously designed,written, or communicated.
The answer to where an organization is going an be determined largely by where the organizations has been !