The Stages of Strategic Management

The Stages of Strategic Management

By Agung Hari Sasongko – D4572

In strategic planning, there are three important stages that must be done by the company when it will plan a strategy that strategy formulation, strategy implementation, and evaluation strategy (David and David, 2015:39-40).

• Formulation of strategy, is the initial stage in which the company establishes its vision and mission, identify opportunities and threats from external companies, long-term goal setting that is used as a reference for creating alternative business strategies, as well as awareness of the strengths and weaknesses of the company.
• Implementation of strategy is a step where the strategy has been formulated by the company began to be implemented in the policies of intensive where each division and functional companies collaborate and work in accordance with the tasks and policies respectively.
• Evaluation of strategy, is the final stage after the strategy is applied and assessed its effectiveness towards achieving corporate goals. Assessment is done by measuring the factors or indicators of success were achieved and evaluate the performance of the formulation and implementation of strategies to further the future in order to better and more effectively.