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Strategic management process

Build a vision statement. Communicate a Mission Statement ( describe the product and market scope) Set objectives ( two dimensional : time specific and Quantified) Conduct analysis (first external analysis such as Customer,Market,Competitot,Industry and PESTLE factors) Then internal analysis such as Current operation,Resources,capabilities,constraints and value chain) Prepare the SWOT matrix) Look for strategic alternative moves and direction) Make the choice of strategy ( first choose from Corporate strategy and then one from generic strategy) Organise for implementation of choosen strategy. Finally evaluate the strategy to find out wether the objectives were achieved.

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