five tasks of strategic management
Strategic management refers to the managerial process of forming a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and then over time initiating what ever corrective adjustments in the vision, objectives, strategy, and execution are deemed appropriate, as shown in chart 1. Let’s explicate the five tasks more detailed: 1. Forming a strategic vision of what the organization’s future tasks will consist of and where the organization is headed -- so to provide long-term direction, delineate what kind of enterprise the organization is trying to become and infuse the organization with a sense of purposeful action. ... A strategic vision is a roadmap of a company’s future-providing specifics about technology and customer focus, the geographic and product markets to be pursued, the capacities it plans to develop, and the kind of company that management is trying to create. Whereas the chief concern of a strategic vision is with “where we are going,” the term mission statement, as it is commonly used, tends to deal with a company’s present business scope-“who we are and what we do. ... Eastman Kodak’s strategic vision and mission statement is “we are in the picture business”.