At&T Strategic Plan

Strategic Management Process

MGT/498

Robin Verhage

8/18/2012

Judd Freeman

Strategic Management Process

The strategic management process means defining the organizations strategy that will help the company gain better performance. The basic idea behind a strategic management planning is combining purposeful planning with actions that are meaningful. The company will first define what their mission or goals are and develop a comprehensive plan for implementation and execution of the mission or goal. The strategic management plan offers direction and guidance to the employees, setting up timelines and designated duties for all personnel.

Mission

The mission statement is the first step in the strategic management process and is the core of all strategic planning. Company goals are after the mission is defined. The goals of the company include the financial prospective sales figures retention, profit margins, and customer attractions as spending parameters.

Analysis

Once the company has created their mission and goals the information gathering phase can begin. The company can bring in employees and external sources to add input into the planning phases. The external consultants may help with market surveys and competition intelligence to provide a picture of the current business environment. The information needs to be analyzed and a SWOTT analyses done to develop a plan based on strengths and weaknesses of the company.

Plan

After all the information is gathered the company can than formulate their strategic plan. The company can identified and implement its marketing and advertising plans. New product development can be explored to break into new market niches. Cutbacks or cost...