(Solved): Steps in the Strategic Management Process Strategic management involves managers from all parts of ...

Steps in the Strategic Management Process Strategic management involves managers from all parts of the organization in the formulation and implementation of strategic goa and strategies. Traditionally, strategic planning emphasized a top-down approach with senior executives developing goals and pla for the entire organization. Currently, many senior executives are involving managers throughout the organization in the strategy formation process. All levels of the organization must be involved in idea generation and innovation to remain competitive. It integr strategic planning and management into a single process. Strategic planning should be an ongoing activity in which all managers a encouraged to focus on both long-term, externally oriented issues as well as short-term tactical and operational issues. Courtney's Cookies, a gourmet cookie company, was founded by Courtney Ashly with the idea of bringing gourmet cookies to the masses at a reasonable price point. The company has been in business for 5 years and is positioned for a change. Its top competiti Miss Meadow's Cookies, has higher brand recognition and a large share in the cookie market. Courtney has substantial financial resources, which will enable her to have a cookie kiosk on almost every street corner in New York City. She will also be able to purchase her ingredients in bulk, resulting in greater profit margins. Based on these factors, Courtney gets the necessary permits a begins positioning her kiosks on the first 10 street corners and signs purchase orders for supplies to begin baking. She will monitor customer traffic and sales at each kiosk to determine where to place her next 10 kiosks. The goal of this activity is to explain the strategic management process. This activity is important because it demonstrates that all managers should focus on both long-term, externally-oriented issues as w as short-term tactical and operational issues. Match the fact in the case that corresponds to the stage in the Strategic Management Process Skilled managersand unreliable suppliers Step of the Strategic Management Process Mission, vision, and goals Miss Meadow's cookies External opportunities and threats Kiosks on ten street comers Internal strengths and weaknesses Substantial financial resources SWOT analysis and strategy formulation Strategy implementation Cookies for the masses Strategic control Reset Mon c