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: Paints a picture of what the company aims to become in the long term.
The most widely accepted models, such as the Basic Strategic Management Model , generally consist of four or five interconnected stages that form a continuous feedback loop. 1. Goal Setting (Vision & Mission)
Organizations must understand both their internal capabilities and external influences before crafting a strategy. strategic management model
: Matching internal strengths with external opportunities. Blue Ocean Strategy : Seeking out uncontested market spaces.
: Explains the organization's fundamental purpose, target market, and primary offerings. : Paints a picture of what the company
The process begins with defining why the organization exists and where it wants to go.
In this stage, leaders synthesize their research to develop a plan of action. This involves identifying a "strategic choice" or the best path forward to achieve its goals. Common tools used here include: : Explains the organization's fundamental purpose
: Examines the industry landscape and macro-environment (political, economic, social, technological) using frameworks like Porter’s Five Forces or PESTLE analysis . 3. Strategy Formulation