SWOT Analysis Of The Four Stages Of Strategic Management

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According to (Tapera, 2014) the process of strategic management is composed of several phases that are correlated and they are as outlined below:
Designing a strategic vision that guides the organization towards a predetermined direction as well as creating a portfolio of future products, services and target market to rally behind.
Setting objectives and using their achievement as measures of progress.
Formulating a strategic path to be followed in achieving the laid-down objectives.
Implementation of the chosen path in an efficient manner
Evaluation of performance and if need be instituting necessary changes and corrections, if need be.
Stages of Strategic Planning As strategic planning is an ongoing process of organizational improvement and achievement of objectives, it is best carried out through stages. It is basically comprised of four distinct stages. The first stage is the preparation stage which includes gathering information, visioning, assessment and implementation of the planning process and is basically, the process of building on what is already in place. The second stage is planning where key priorities are established and the third stage involves implementation through communicating the plan, supervising …show more content…

SWOT Analysis, is a summary of the perceptions of the management concerning the internal strengths, internal weaknesses, external opportunities that offer potential rewards for the organization and external threats that may hinder exploiting identified opportunities. It can be conducted through various means such as organizing strategic planning sessions, carrying out surveys among the leadership, staff, business partners and clients and compiling the findings for a proper analysis and prioritization process to single out the most productive strategic

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