Engaging Activities

Direction: Answer all the questions diligently, precise and concise.

3. Based on your perspective and opinion, what is the importance and role of the 3
stages of strategic management? “Strategy formulation, implementation and
evaluation”

The three stages of strategic management are important for developing a
vision and mission statement, identifying an organization's external opportunities
and threats, determining internal strengths and weaknesses, and establishing long-
term objectives. And to establish annual objectives, devise policies, motivate
employees, allocate resources, and follow strategies to lead competitive advantage
and better performance, as well as for top management to determine whether the
strategy used is appropriate to the organization in achieving their goals.

4. Explain the Process of the comprehensive strategic management model.


The process of the comprehensive strategic management model begins with
the development of vision and mission statements, followed by the performance of
external and internal audits, then the establishment of long-term objectives,
preceded by the generation, evaluation, and selection of strategies, then the
execution of strategies and management of issues, and eventually by the
implementation of strategies and management of issues in marketing, finance,
accounting, R&D, and MIS issues. The final step is to evaluate the performance. It is
critical that there is a clear ideology, including the vision, mission, and objectives, as
well as an analysis of the internal environment that keeps the business safe from any
issues that prevent it from performing at its best. There is also ananalysis of the
external environment and the risks that exist there, as well as user-friendly maps
and charts that guide the business in making better decisions. There must be clear
accountability for the outcomes. A comprehensive strategic management model that
is effective is always adaptable to meet the needs of the business.