Need By 13 Dec 2015 At 11:00 P.m. EST In 1 Page In APA Forma

Need By 13 Dec 2015 At 2300hrs Est In 1 Page In APA Format

Need by 13 Dec 2015 at 2300hrs EST in 1 page in APA Format The nature and value of strategic management is to achieve the desired results and outcome due to careful research (environmental scanning), planning and development of a company’s strategy as well as the implementation and maintenance of it (Pearce & Robinson, 2013, p. 3). For this week's Assignment, you will complete a short answer on the following question: Why is strategy important to business? You will want to address the main components (three-tier process) of the strategic management process while discussing the importance of strategy for business. Be sure to use your Reading this week as a resource.

You are encouraged also to use the Library databases and the Internet as additional resources. For additional Assignment details see Rubric below. Reference: Pearce, J., Robinson, R. (). Strategic Management, 13th Edition. [VitalSource Bookshelf Online]. Retrieved from Assignment Checklist: Explain the concept of the strategic management (three-tier) process.

Discuss the importance of having a future oriented plan. Discuss the organization’s vision, mission, purpose, philosophy or goal. Discuss the strategic process as input for future decision making. Additional info: The nature and value of strategic management is to achieve the desired results and outcome due to careful research (environmental scanning), planning and development of a company’s strategy as well as the implementation and maintenance of it (Pearce & Robinson, 2013, p. 3).

For this week's Assignment, you will complete a short answer on the following question: Why is strategy important to business? You will want to address the main components of the (three-tier process) of the strategic management process while discussing the importance of strategy for business. Be sure to use your reading this week as a resource. You are encouraged also to use the Library databases and the Internet as additional resources. For additional details on this Assignment view the Rubric below.

Reference: Pearce, J., Robinson, R. (). Strategic Management, 13th Edition. [VitalSource Bookshelf Online]. Retrieved from ID: MT-A Assignment Checklist: Explain the concept of the strategic management (three-tier) process. Discuss the importance of having a future oriented plan. Discuss the organization’s vision, mission, purpose, philosophy or goal.

Discuss the strategic process as input for future decision making. Format Your project should be double-spaced, citations should use APA style, and it should be 2-3 written pages in length, not including the formal title page and references page. Ensure the Assignment is in a Microsoft Office -compatible format (Word .doc or .docx). Need by 13 Dec 2015 at 2300hrs EST in 1 page in APA Format

Paper For Above instruction

Strategic management plays a vital role in guiding organizations toward achieving their objectives through a systematic process of analysis, planning, implementation, and evaluation. As outlined by Pearce and Robinson (2013), the core of strategic management involves environmental scanning, strategy formulation, and strategy implementation, forming a three-tier process that ensures organizations are aligned with their external and internal environments. This process is essential because it enables businesses to anticipate changes, allocate resources efficiently, and sustain competitive advantage in dynamic markets.

A future-oriented plan is fundamental in strategic management because it provides direction and purpose, helping organizations to navigate uncertainties and capitalize on opportunities. Developing a clear vision and mission statement articulates the organization's core purpose and long-term aspirations, serving as a foundation for strategy formulation. The vision describes where the organization aims to be in the future, while the mission defines the current purpose and primary objectives (David & David, 2017). These elements foster a shared understanding among stakeholders and serve as guiding principles for decision-making.

The strategic process also acts as a critical input for future decision-making by highlighting strengths, weaknesses, opportunities, and threats (SWOT analysis). This systematic assessment informs strategic choices, ensuring decisions are based on comprehensive data rather than intuition alone (Hitt, Ireland, & Hoskisson, 2017). Moreover, strategic management helps organizations adapt to environmental changes, pursue innovative initiatives, and develop resilient business models, which are vital amid rapid technological advancements and shifting consumer preferences.

In conclusion, strategic management is indispensable for business success because it facilitates structured planning, aligns organizational efforts, and prepares firms for future challenges. The three-tier process—environmental scanning, strategy formulation, and strategy implementation—provides a framework for sustainable growth. Establishing a clear vision, mission, and purpose ensures organizational coherence and motivates stakeholders. Ultimately, strategic management equips organizations with the tools to make informed decisions that foster competitive advantage and long-term viability.

References

  • David, F. R., & David, F. R. (2017). Strategic Management (15th Ed.). Pearson.
  • Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Concepts and Cases (12th Ed.). Cengage Learning.
  • Pearce, J., & Robinson, R. (2013). Strategic Management (13th Ed.). VitalSource Bookshelf Online.
  • Barney, J. B., & Hesterly, W. S. (2019). Strategic Management and Competitive Advantage (6th Ed.). Pearson.
  • Grant, R. M. (2019). Contemporary Strategy Analysis (10th Ed.). Wiley.
  • Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review, 86(1), 78-93.
  • Kaplan, R. S., & Norton, D. P. (2008). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business Press.
  • Wheelen, T. L., & Hunger, J. D. (2018). Strategic Management and Business Policy: Globalization, Innovation, and Sustainability (15th Ed.). Pearson.
  • Jones, G. R., & George, J. M. (2019). Contemporary Management (10th Ed.). McGraw-Hill Education.
  • Johnson, G., Scholes, K., & Whittington, R. (2017). Exploring Corporate Strategy: Text & Cases (11th Ed.). Pearson.

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