MGT1 Week1 Essay

Submitted By marmolejos123456
Words: 411
Pages: 2

Rosemary Marmolejos
University of Phoenix
Strategic Management Process Paper
MGT/498 week 1
Instructor: Eligah King
January 31, 2015

When it comes to long-term performance of a business is frequently reliant on managerial proceedings and decisions, in which consist of internal and external environmental scan, tactical formulation and accomplishment, assessment, and control. This distinctiveness is significant to the concept of strategic management. I believe that the principal mechanism of the strategic managing process are environmental scanning, strategy implementation, strategy formulation, and evaluation and control. Environmental scanning is illustrate to be to evaluating, and broadcast information from the internal and external environment to contribute people within the business. This type of strategy is use to be able to classify influences that will help to control the future of the business. In addition, this type of strategy will develop a long period plan for the company future by using the business weaknesses and strengthens, on behalf of the effective handling of environmental threats and opportunities. The strategy implementation is what helps to put in action all business strategies formulated. Evaluation and control will help with the business activities, monitory, and performances to be able to compare consequence with in the business. Strategic management facilitates a corporation to be able to sustain long-term performance and companies that do not put into practice strategic management will be very difficult to be able to accomplish and maintain long-standing performances. For the most part, business when they have attained a high level of performance will soon experience diminish in their performance. Therefore the Strategic management will help a business…