Strategic Planning Essay Example | Topics and Well Written Essays - 250 words - 1

Strategic Planning - Essay Example External environment must be analyzed by the organization to determine how n organization can survive in the midst of the competitors. Implementation of strategy- strategy implementation entails the act of putting strategy into practice. In addition, the process involves steps development, methods and strategy execution procedure. The process also includes determination of which strategy to come first. Prioritization of strategies should be based on the seriousness of all issues underlying. Strategy evaluation- this element entails the examination of strategy implementation as well as the strategy outcome. Evaluation includes the process of finding out whether the deadlines have been met, whether the process used in implementation steps and process are working the way they should. Strategic management is a crucial part of organizational business strategies. For any organization to successfully survive in a competitive business environment, it has to gather the right information so that the organization can have a competitive advantage to compete against its competitors. Organizations survival deeply depends on how it outshines its competitors. If the competitors outperform the organization then, it fails. A good strategic management is, therefore, vital for an organization to strengthen its operations in the market. Business models offer a description of how an organization structure is set to maximize the profits. On the other hand, business strategy is used to give a description of how organization engages its competitors. A company like amazon and Facebook has been able to beat their competitors through development of new strategies. Facebook has been successful in increasing its revenue through virtual property owner