Scribd
Upload
88 views

DAY 2 & 3 Basic Concepts in Business Policy and Strategy

This document outlines the strategic management process and strategic planning phases. It discusses 4 key steps in the strategic management process: 1) situation analysis/environment scanning, 2) strategy formulation, 3) strategy implementation, and 4) strategy evaluation. It also describes the 4 phases of strategic planning: 1) planning financial aspects, 2) forecasting, 3) external planning, and 4) strategic management. Finally, it defines some basic concepts in business policy and strategy like globalization, the electronic age, and organizational adaptation.

Uploaded by

Kaitiora Vermillion
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
88 views

DAY 2 & 3 Basic Concepts in Business Policy and Strategy

This document outlines the strategic management process and strategic planning phases. It discusses 4 key steps in the strategic management process: 1) situation analysis/environment scanning, 2) strategy formulation, 3) strategy implementation, and 4) strategy evaluation. It also describes the 4 phases of strategic planning: 1) planning financial aspects, 2) forecasting, 3) external planning, and 4) strategic management. Finally, it defines some basic concepts in business policy and strategy like globalization, the electronic age, and organizational adaptation.

Uploaded by

Kaitiora Vermillion
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

4BSA-01 ] BAM 010 - Business Policy and Strategy

(T/TH 04:30PM-06:00PM/04:30PM-06:00PM)
DAY 2 & 3

BASIC CONCEPTS IN BUSINESS POLICY AND STRATEGY


LEARNING OBJECTIVES:

 To know the steps in strategic management process


 Be familiar with the strategic planning phases

DEFINITION:

STRATEGIC MANAGEMENT
PROCESS

ACTIONS
DECISION
S
Business policy
 Rules
MANAGERS
 blueprint
Gauge the
performance of the
organization

STRATEGIC MANAGEMENT PROCESS:

1. SITUATION ANALYSIS/ENVIRONMENT SCANNING


 Observation in the external and internal environment of an organization

Prepared by: Ms. Faviola M. Abuel


CMA instructor
 Internal environment involves the interaction inside the workplace that results to
organizational culture.
 External environment involves knowing the external stakeholders, which are the
customers, suppliers. Competitors and the government.

2. STRATEGY FORMULATION - the process by which an organization chooses the most


appropriate courses of action to achieve its defined goals. It involves three strategies:
A. OPERATIONAL STRATEGIES: short term strategies and are associated with the various
operational departments of the company such as human resources, finance, marketing
and production.
B. COMPETITIVE STRATEGIES: the techniques in competing in competing in a certain
industry.
C. COMRPORATE STRATEGIES: lone term strategies and are involved in providing directions
for the organization.
3. STRATEGY IMPLEMENTATION: the development of procedures, programs, and activities to
put the strategies into practice.
4. STRATEGY EVALUATION: the appraisal of the company’s performance.

STRATEGIC MANAGEMENT: PLANNING PHASES


Strategic management is an ongoing process organizations apply to analyze internal processes and
resources that deliver these products. There are four main phases that must be applied with each
strategy, and decision-makers must understand the purpose of each phase.
1. PHASE 1: PLANNING FINANCIAL ASPECTS. This is usually the phase when financial data such as
the next year’s budget is planned.
2. PHASE 2: FORECASTING. Involves long term planning of projects wherein funds are evaluated
and approved.
3. PHASE 3: EXTERNAL PLANNING. The task of top level management wherein they gather and
formulate strategies for the company on a five year period.
4. PHASE 4: STRATEGIC MANAGEMENT. This is the detailed version of phase 3 of strategic plans.
The process of getting the rudiments of strategies in detail.

GLOBALIZATION: the internalization of markets and corporations.


ELECTRONIC AGE: the period of vast electronic transactions using the internet.
ORGANIZATIONAL ADAPTATION: the ability of the company to be updated on what is in store in all
facets of the business environment.

Prepared by: Ms. Faviola M. Abuel


CMA instructor

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy