Strategic management functions

Strategic management functions
See also

Strategic management functions consist of specific methods and techniques used in the different stages of the strategic management process: analysis, planning, implementation and strategic control. Summary of various management activities (functions) used in the strategic management process is presented below. See also Category:Strategic management for broader description of the methodology and detailed description of strategic management functions.

Formulating business strategy[edit]

  1. Determining the purpose of company.
  2. Creating a mission and vision:
  3. Formulation of rules defining the competitive position in the company's political, legal, economic, social, technological and natural environment:
Fig. 1. Strategic management functions
  1. Developing a strategy for the company as a whole

Strategic market segmentation[edit]

  1. Identification of the strategic segments.
  2. Developing a coherent market segment strategy.
  3. Creating a decentralization policy.
  4. Designing and implementing policy and strategy for chosen segments.

Creating comprehensive strategic control system[edit]

  1. Defining assumptions for strategic control.
  2. Selection of criteria for the evaluation.
  3. Implementing control methods and techniques.
  4. Improving the strategic control model.