Hirent India

we analyze the internal and external environment, setting clear objectives, developing strategies and implement and evaluate these strategies over time. 1.Defining the Organization's Mission and Vision: Strategic management begins with clearly defining the organization's purpose and its aspirations for the future. This provides a foundation for all subsequent strategic decisions. 2. Analyzing the Environment: This involves assessing both the internal and external environment to identify strengths, weaknesses, opportunities, and threats (SWOT analysis). This helps organizations understand their competitive landscape and potential areas for improvement. 3. Setting Strategic Goals: Based on the environmental analysis, organizations set specific, measurable, achievable, relevant, and time-bound (SMART) goals that guide their strategic direction. 4. Developing and Implementing Strategies: This involves crafting and putting into action plans that will help the organization achieve its strategic goals. This may include competitive strategies, operational strategies, and other initiatives. 5. Evaluating and Monitoring Performance: Strategic management is an ongoing process, requiring regular evaluation and monitoring of progress toward achieving the set goals. This allows for course corrections and adjustments as needed.