What are the steps in strategic management?

Strategic management involves a series of steps that are designed to help an organisation achieve its goals and objectives. The first step is to define the company's mission and vision, followed by performing a SWOT analysis to identify the strengths, weaknesses, opportunities, and threats facing the organisation. Once this has been completed, the next step is to create strategic goals and objectives, and then develop a plan of action to achieve these goals. This plan should be regularly reviewed and adjusted as necessary to ensure ongoing success. Finally, the success of the strategic management process should be evaluated regularly to identify any areas for improvement and to determine if the goals and objectives have been achieved.

This mind map was published on 18 May 2023 and has been viewed 126 times.