Strategic management provides overall direction by developing plans and policies designed to achieve objectives and then allocating resources to implement the plans. Ultimately, strategic management is for organisations to gain a competitive edge over their competitors.

The basic concept of strategic management consists of a continuous process of planning, monitoring, analysing and assessing everything that is necessary for an organization to meet its goals and objectives.

7 Steps Effective Strategic Planning Process
  • Step 1 – Review or develop Vision & Mission. …
  • Step 2 – Business and operation analysis (SWOT Analysis etc) …
  • Step 3 – Develop and Select Strategic Options. …
  • Step 4 – Establish Strategic Objectives. …
  • Step 5 – Strategy Execution Plan. …
  • Step 6 – Establish Resource Allocation. …
  • Step 7 – Execution Review.

Course Curriculum

Introduction Unit 1
Level 7 Diploma in Strategic Management Unit 1 00:00:00
Assignment 1 Level 7 Diploma in Strategic Management 10, 00:00

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