Analysis, Formulation, and Implementation5. What five-step model of the strategic management process is being used to structure this course and what activities are involved in each?

When using MBO, managers should meet with employees reasonably often—either informally as needed or formally every three months—to review progress.

Strategy formulation is the process of determining and establishing the goals, mission and objectives of an organization, and identifying the appropriate and best courses or plans of action among all available alternative strategies to achieve them. That route or framework will be created through strategy formulation.

Kotter’s Eight Steps

1. Create a sense of urgency.
2. Build a guiding coalition.
3. Form a strategic vision and initiatives.
4. Enlist a volunteer army.
5. Enable action by removing barriers.
6. Generate short-term wins.
7. Sustain acceleration.
8. Institutionalise change.

Strategic intent includes directing organization’s attention on the need of winning; inspiring people by telling them that the targets are valuable; encouraging individual and team participation as well as contribution; and utilizing intent to direct allocation of resources.

In the field of management and organizational development, strategic intent is defined as a compelling statement about where an organization is going that succinctly conveys a sense of what that organization wants to achieve in the long term. Strategic intent implies a sizable stretch for an organization.

Strategic management has three major elements, which include strategic analysis, strategic choice, and strategy implementation.

Features of Strategic Management?

• Conscious Process.
• Requires Foresight.
• Dependent on Personal Qualities.
• Goal-Oriented Process.
• Facilitates decision making.
• Primary Process.
• Pervasive Process.
• Allows for Risk Management.