question 11

Original Work, NO PLAGERIESM, Cite Reference, References, 200 words

Strategic Management and Business Policy: Globalization, Innovation, and Sustainability our authors Hunger, Wheelen, Hoffman, Bamford (2015) point out, "that strategic management is a set of decisions and actions that help determine the long-term performance of an organization." (pg. 4)

 

There are 4 phases of strategic management that a firm evolves through, they are:

 

Phase 1 - Basic Financial Planning

Phase 2 - Forecast-based Planning

Phase 3 - Externally oriented (strategic planning)

Phase 4 - Strategic Management

 

After reviewing these phases in our text - select one and describe the concepts of this phase.  What are the organizational characteristics of this phase?

Hunger, J. D., & Wheelen, T. L., Hoffman, A. N., Bamford, C. E. (2015).  Strategic Management and Business Policy (14th ed.). Upper Saddle River, NJ: Pearson Education