PELLYKW3A5 Individual Assignment

PELLYKW3A5 Individual Assignment - Individual Assignment...

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Individual Assignment Indiana Wesleyan University Kristina Pelly
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The strategic formulation process is a must for corporations and each of their subsidiaries. There is a step-by-step process for considering strategic choices. In strategic formulations managers must carefully evaluate factors in each of the following stages: define/clarify mission and objectives; assess environment for threats, opportunities; assess internal strengths and weaknesses; consider alternative strategies using competitive analysis; choose strategy; implement strategy through complementary structure, systems, and operational processes; set up control and evaluation systems to ensure success, feedback to planning. The above steps are both the strategic planning process and the implementation process. “The process of gathering information and forecasting relevant trends, competitive actions, and circumstances that will affect operations in geographic areas of potential interest is called environmental scanning” (Deresky 2011). According to Deresky
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This note was uploaded on 02/12/2012 for the course MBA 551 taught by Professor Smith during the Spring '11 term at Indiana Wesleyan.

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PELLYKW3A5 Individual Assignment - Individual Assignment...

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