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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).
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.
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.

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