STRATEGIC MANAGEMENT

"STRONG BRAND RECOGNITION"

• STRENGTH

• WEAKNESS

• OPPORTUNITY

• THREAT

It bridges the gap between "where we are" and "where we want to be".

• Goals

• Objectives

• Tactics

• Strategy

Which of the following does NOT belong to the group?

• Strategic Management is to incorporate various functional areas of the organization completely.

• Strategic Management gives a broader perspective to the employees of an organization.

• Strategic Management is to keep a continuous eye on the goals and objectives of the organization.

• Strategic Management is a structured planning method that evaluates the key elements of a project.

An objective is "SMART". S stands for _________. (CAPITAL LETTERS ONLY)

An objective is "SMART". M stands for _________. (CAPITAL LETTERS ONLY)

It is designed to help with long-term strategic planning, to help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest or develop products. (CAPITAL LETTERS ONLY)

These are quantifiable and measurable targets, that answer the question of "how much, by when".

• Tactics

• Strategies

• Objectives

• Strategic Themes

These are task assignments that must be carried out on an individual basis. (CAPITAL LETTERS ONLY)

These are one- to three-word affinity group headings used to compartmentalize strategic and operational plans, such as Quality, Safety, People and Customers.

• STRATEGIC THEMES

• OBJECTIVES

• TACTICS

• STRATEGIES

It is the first step in strategic management process.

• Conduct an External Analysis

• Formulate Strategies

• Identify organization's current Vision, Mission, Objectives and Strategies.

• Implement Strategies