Custom Search

Popular Posts

Monday, September 10, 2012

PROCESS OF STRATEGY


THE PROCESS OF STRATEGY
 

The process of strategy is cyclical in nature. The elements within it interact among themselves. Figure-1 present the process for single SBU firm. The process has to be adjusted for multiple SBU firms because there it is conducted at corporate level as well as SBU levels as these firms insert SBU strategy between corporate strategy and functional strategy. Initially, the process of strategy was discussed in terms of four phases which are:
 

1.   Identification phase
2.   Development phase
3.   Implementation phase
4.   Monitoring phase 

The process of strategy does not have the same steps as stated by different authors. 

According to C.K. Prahalad, the process comprises of five steps. They are: 

1.   Strategic Intent
2.   Environmental Analysis
3.   Evaluation of strategic alternatives and choice
4.   Strategy Implementation
5.   Strategy Evaluation and Control 

For our understanding, the process has been divided into the following steps: 

1.   Strategic Intent
2.   Environmental and Organizational Analysis
3.   Identification of Strategic Alternatives
4.   Choice of Strategy
5.   Implementation of Strategy
6.   Evaluation and Control
 

FIG-1 : STRATEGIC PROCESS 
 
 
 FIG-1 : Strategic Process in a Single SBU Firm
 

READ MORE...
Blog Widget by LinkWithin