Strategic Management

Diana Ghanem

Strategic management

Every Tuesday in Heliopolis

Phone number: 01000216551

Email: Diana_boba_dodo@hotmail.com

First assignment

The importance of strategic management

The main 8 steps of strategic management for every organization

1) Vision & mission:

A mission and vision are standard and critical elements of a company's organizational strategy. Most established companies develop organizational mission statements and vision statements, which serve as foundational guides in the establishment of company objectives.

Mission purpose:  A mission statement offers insight into what company leaders view as the primary purpose for being in business. It serves as a guide for all of the company's decision-making.

Vision purpose: A vision might provide a direction for the company for the next five to 10 years, while also noting a commitment to integrity, transparency, openness and other such values, it determines specific the taget product ,customer to serve, and geographically.

2) External Scanning for the organization:

Environmental scanning is the acquisition and use of information about events, trends, and relationships in an organization's external environment, the knowledge of which would assist management in planning the organization's future course of action.

Organizations scan the environment in order to understand the external forces of change so that they may develop effective responses which secure or improve their position in the future. They scan in order to avoid surprises, identify threats and opportunities, gain competitive advantage, and improve long-term and short-term planning.

3) Internal scanning:

Internal scanning involves looking inside the farm business and identifying strengths and weaknesses and assessing the businesses’ resources and management’s skills. It is part of the strategic planning process. An overview of Strategic Planning for a Farm Business and how internal scanning fits into the...