Strategic Management Essay

476 Words2 Pages
Question I: Review the Strategic Management Model (SMM) and the Strategic Decision-Making Process (SDMP). Compare and contrast the two models, and reconcile the strategic decision-making process with the strategic management model. Give on specific example based on your experiences. Explain your answer. Corporations apply the Strategic Management Model (SMM) for their conducting business activities via the assessing decisions process. The SMM identifies the organization and corporation’s mission, vision, objectives from that working plan, internal policies in terms of annual project and programme will be designed thoroughly and scientifically. Corporations will allocate the available sources to carry out the policies and plans, programme, projects. Meanwhile, the Strategic Decision-Making Process (SDMP) demonstrates the working flow for Board of Executive and methods to making appropriate decision. The SMM is the frame describing 4 phases including Environment Scanning, Strategy Formulation, Strategy Implementation, Evaluation and Control. Businessmen use this form to set up an organization. The phase of Environment Scanning refers the importance of external conditions lead by opportunities and threats. Social forces or governmental policies can change factors that cause the changing business environment accordingly. Meanwhile, the output terminal including mission, objectives, strategies, policies, and programme, budget, procedure ect develops Strategy Formulation and Strategy Implementation respectively. The final phase or Evaluation and Control of SMM will be closed by executing actual results. Generally, the Environmental Scanning plays an essential role in SMM as should one of the conditions changes, it will cause the changes for the other conditions accordingly. Regarding the SDMP, 3 phases of Strategy Formulation,

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