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Strategic Management Model

Strategic Management ModelGatheringInformationSocietalEnviron ment:General forcesNaturalEnvironment:Resources andclimateTaskEnvironment:Industry analysisInternal:Strengths andWeaknessesStructure:Chain of commandCulture:Beliefs, expectations,valuesResources:Assets, skills,competencies,knowledgeExternal:Op portunitiesand ThreatsDeveloping Long-range PlansMissionReason forexistenceObjectivesWhatresults to accomplishby whenStrategiesPlan toachieve themission &objectivesPoliciesBroadguidelinesfor decisionmakingEnvironmentalScanning:Stra tegyFormulation:Feedback/Learning: Make corrections as neededPutting Strategy into ActionMonitoringPerformanceProgramsActiv itiesneeded to accomplisha planBudgetsCost of theprogramsProceduresSequenceof stepsneeded to do the jobPerformanceActual resultsStrategy Implementation:Evaluationand Control:THIRTEENTH EDITIONS trategicManagementandBusinessPolicyTOWAR D GLOBAL SUSTAINABILITYThis page intentionally left blank THIRTEENTH EDITIONT homas L.

Strategy Highlight 2.1: AGENCY THEORY VERSUS STEWARDSHIP THEORY IN CORPORATE GOVERNANCE 50 Nomination and Election of Board Members 53 Organization of the Board 54 Impact of the Sarbanes-Oxley Act on U.S. Corporate Governance 55 Global Issue: CORPORATE GOVERNANCE IMPROVEMENTS THROUGHOUT THE WORLD 56 Trends in Corporate …

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