GSM Unit 1 DB - Lorraine Huff Unit 1 Discussion Board...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Lorraine Huff Unit 1 Discussion Board January 9, 2011 The strategic planning process has been adopted by many large firms. It has become a purposeful method in which top executives occasionally would put together the firm’s approach, then correspond it down the business for execution. The process follows a particular order: mission, objectives, situation analysis, strategy formulation, implementation, and finally control. A company’s mission is what the company stands for. It is usually articulated in a mission statement which communicates a communication to employees and provides an image of the company to its customers. It “sets the mood of where the company should go.” Objectives are tangible goals that companies want to accomplish. All objectives are set to be attainable, however they should always create a challenge to company members. Objectives should also be made to be measured for reports on progress and possible corrections that need to be made. Situation Analysis is an study of internal and external environments that could affect the
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/18/2012 for the course GM 301 taught by Professor Kimberlybennett during the Spring '10 term at American InterContinental University.

Ask a homework question - tutors are online