Strategic Management Model -

: Evaluates strengths and weaknesses, often using tools like the VRIO framework to identify resources that provide a competitive edge.

: Matching internal strengths with external opportunities. Blue Ocean Strategy : Seeking out uncontested market spaces.

: Examines the industry landscape and macro-environment (political, economic, social, technological) using frameworks like Porter’s Five Forces or PESTLE analysis . 3. Strategy Formulation strategic management model

The Strategic Management Model: A Framework for Long-Term Success

The process begins with defining why the organization exists and where it wants to go. : Evaluates strengths and weaknesses, often using tools

: Explains the organization's fundamental purpose, target market, and primary offerings.

The most widely accepted models, such as the Basic Strategic Management Model , generally consist of four or five interconnected stages that form a continuous feedback loop. 1. Goal Setting (Vision & Mission) In this stage

: Specific, measurable goals (often using SMART criteria ) that translate the mission into actionable targets. 2. Environmental Scanning (Analysis)

Organizations must understand both their internal capabilities and external influences before crafting a strategy.

In this stage, leaders synthesize their research to develop a plan of action. This involves identifying a "strategic choice" or the best path forward to achieve its goals. Common tools used here include: