Helps managers make strategic decisions regarding achieving sales targets and generating higher revenue

Organizations develop plans and implement those plans to keep pace with the increased competition and globalization of the modern business world through goal planning.

It includes the comparison of the threats and opportunties of the organization in the extemal business environment.

Environmental scanning includes the comparison of the threats and opportunties of the organization in the internal business environment.

Strategy Implementation can be affected by factors like government rules and regulations, the economy, social changes, change in customer preferences, technological advancement, competition and other environmental factors.

A SWOT analysis is performed to contrast the internal assets and flaws of the trade with the external prospects and dangers

Generation of long-term plans for the proper management of environmental openings and fears considering the fortes and faintness of the business or the company.

Organization’s purpose or the reason for its survival

Outcomes of the planned functions

Broad master plan expressing how a company will accomplish its mission and objectives, maximizing competitive advantages and minimizing competitive disadvantages.

Comprehensive guideine for making decisions linking the formation and implementation of a strategy.

An ideal mission statement specifies the unique purpose that differs the company from other different companies

The attainment of the objectives should lead to the fulfillment of the company’s vision

Taking action in order to attain the goals of the organization

It is to ascertain whether the actual outcome matches the expected outcome of the organization goals

It gives a picture about what an organization must get into immediately to maximize opportunities and overcome threats

Strategic analysis should not focus so much on problems but rather on opportunities that can be captured

It emphasizes the value and process of internal and external evaluation before strategies are formulated and implemented.

The strategic management model provides managers and strategists a greater comprehension of the iterative approach in conducting real strategic management in the organizational setting.

Developing the strategic management model is important because it provides the basic framework for understanding how strategic management can be operationalized at the company level.

It is the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

Performed to contrast the internal assets and flaws of the trade withthe external prospects and dangers

It helps create a vision for an organization that helps identify both predictable as well as unpredictable contingencies

It is also the process of developing a game plan to guide a company as it strives to accomplish its vision, mission, goals and objectives.

The goal of developing a strategic plan is to create a competitive advantage for the company, which is the aggregation of factors that sets big business apart from its competitors.

Strategic planning is not just a result or product of an outcome, but this is an ongoing process

It provides a structured way to analyze and think about complex strategic problems

It is an effective way to communicate the aim of management members of the organization

Strategic planning can be used as a means of control by regularly reviewing performance and progress against disagreed objectives

Strategic planning is difficult and time consuming

In strategic planning, immediate results are easily obtained.

is the long-term goals and objectives of an enterprise and the adoption of the courses of action and the allocation of resources nexessary for carrying out these goals

is the procedure where an organization sets goals and objectives and starts planning and implementing the planning which helps to achieve these goals and objectives

It means increasing sales and a chance to take advantage of the experience curve to reduce per unit cost of products sold, thereby increasing profits