What are the five steps in the strategic management process

This process typically involves a step of researching data.Typically, the final step at this stage is to make these goals and objectives known to all staff.A calendar is established and used for periodic progress reviews and a contextual communication strategy is adopted by the whole company.Most strategic planning cycles can be summarized in these five steps:A strategic management process establishes.

Where do we want to be?The final phase involves change control and the monitoring of feedback.Whole departments are trained and adapted to the new operational strategy and progress reviews are modified in.In business, conditions often change resulting in the need of evaluation of existing strategies and planning the new ones to take advantage of changing conditions.The vision describes where the business wants to reach and mission tells us the business values and its purpose of existence.

The last phase of strategic management is evaluation and control.In this article, we'll walk you through these five stages: