Chapter Four covers strategic management and planning processes. How are the bas
ID: 397667 • Letter: C
Question
Chapter Four covers strategic management and planning processes. How are the basic steps of planning utilized? How does the analysis of external and internal environments help management in strategic planning? Finally, how are the six major components of the strategic management process utilized in your work environment? Chapter Four covers strategic management and planning processes. How are the basic steps of planning utilized? How does the analysis of external and internal environments help management in strategic planning? Finally, how are the six major components of the strategic management process utilized in your work environment?Explanation / Answer
The basic processes of a planning process rely upon following the procedures in the necessary order in the light of determining the best possible execution when we think about the requirement of the process in the first place. We can say that it is due to this requirement that businesses take the advantage of the planning process by essentially defining the vision, mission, the long and short-term goal as well as the effectiveness of a plan by utilizing the basic factor of control.
Every decision that a manager makes has certain criteria, based on which the decision-making process is laid out. If the factors are made in isolation to the system, it will essentially be rendered ineffective, therefore, as a necessary as well as in the hope of creating a better, more functional system with a variable degree of fault tolerance, we need to be able to study the internal as well as external environment and how it affects our decisions.
At my workplace, the management make the use of the 6 major processes of determining the needs, planning, controlling the factors, monitoring, evaluation as well as revaluation as the basis of every management decision. The company never makes a decision based on a situation without the external analysis required to empirically define the problem and considering the previous patterns for similar problems. The management closely monitors all the variables and constantly makes changes to their plan in order to closely relate to the functioning of the plans as the factor for the output that the company creates.