Concepts of Strategic Management
Introduction | Concepts | Exercises | Resolution | Case | Discussion | Print
Exercises

Part 2

Now that we have identified what Liz needs to do, let's help her create a strategic management process for CanGo.

Below you will find the steps to the strategic management process and their descriptions. Please match the steps with the appropriate description.

1. SWOT Analysis
2. Mission Statement
3. Long Term Goals
4. Implementation
5. Strategic Choice
6. Evaluation
7. Revision
8. Vision Statement
a. Identifying courses of action that create the best fit between a firm's internal environment and the external environment.
b. Identifying what the organization wants to achieve through implementing a specific strategy.
c. Identifying the organization's strengths and weaknesses, and the opportunities and threats in its external environments.
d. Clarifying why the organization exists-what it does, how, and for whom.
e. Establishing whether objectives and goals are being fulfilled by the existing strategy.
f. Identifying changes in courses of action and making those changes to create a better fit between the firm's internal and external environments.
g. Launching tactical and functional plans with clearly-defined success objectives.
h. Identifying what the organization wants to achieve in its future.

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