A Review of Strategic Management Process and its Impact on Organisational Productivity and Success

Abstract

This paper looks at the impact of strategic management process, which involves analyses and choices that can come from several areas depending on organisation’s strengths or capabilities from within and outside of the organization. This entails that only after conducting an in-depth analysis and gaining thorough knowledge of the environment to identify the most attractive business opportunities, such that the right decisions that result in achieving competitive advantage be made. The ability to consistently win is based on deploying organizational strength that resonates with crafted strategies to exploit the weaknesses of competitors. Over the years, analysts, academics and practitioners alike have discussed much about strategic management process, but more still needs to be done in this competitive business community. This article aims to analyse strategic management process through interrelated phases, developing organisation’s vision and mission, scanning environments, crafting and implementing strategy as well as monitoring and control of strategy with the view of achieving sustained competitive advantage.