The strategic management process
1)is usually delegated to members of a company's board of directors so as not to infringe on the time of busy executives.
2)includes forming a strategic vision, setting objectives, and crafting strategy, but does not include the tasks of implementing and executing strategy.
3)is principally concerned with sizing up an organization's internal and external situation so as to be prepared for the challenge of crafting a sound, well-conceived strategy
4)embraces the tasks of forming a strategic vision of a company's future business make-up and long-term direction, establishing objectives, crafting a strategy, implementing and executing the strategy and then initiating corrective adjustments in light of experience, changing conditions, new ideas, and new opportunities
5)is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved.
7th Edition•ISBN: 9781260478877Dhruv Grewal, Michael Levy 5th Edition•ISBN: 9780078769047McGraw-Hill Education 18th Edition•ISBN: 9780135766590 (1 more)Gary Armstrong, Philip Kotler 12th Edition•ISBN: 9780134472485Michael R Solomon