THE FIVE STAGES
OF THE PROCESS
diakses 1 Mei 2020
The five stages
of the process are goal-setting, analysis, strategy formation, strategy
implementation and strategy monitoring.
Clarify Your
Vision
The purpose of
goal-setting is to clarify the vision for your business. This stage consists of
identifying three key facets: First, define both short- and long-term
objectives. Second, identify the process of how to accomplish your objective.
Finally, customize the process for your staff, give each person a task with
which he can succeed. Keep in mind during this process your goals to be
detailed, realistic and match the values of your vision. Typically, the final
step in this stage is to write a mission statement that succinctly communicates
your goals to both your shareholders and your staff.
Gather and
Analyze Information
Analysis is a
key stage because the information gained in this stage will shape the next two
stages. In this stage, gather as much information and data relevant to
accomplishing your vision. The focus of the analysis should be on understanding
the needs of the business as a sustainable entity, its strategic direction and
identifying initiatives that will help your business grow. Examine any external
or internal issues that can affect your goals and objectives. Make sure to
identify both the strengths and weaknesses of your organization as well as any
threats and opportunities that may arise along the path.
Formulate a
Strategy
The first step
in forming a strategy is to review the information gleaned from completing the
analysis. Determine what resources the business currently has that can help
reach the defined goals and objectives. Identify any areas of which the
business must seek external resources. The issues facing the company should be
prioritized by their importance to your success. Once prioritized, begin
formulating the strategy. Because business and economic situations are fluid,
it is critical in this stage to develop alternative approaches that target each
step of the plan.
Implement Your
Strategy
Successful
strategy implementation is critical to the success of the business venture.
This is the action stage of the strategic management process. If the overall
strategy does not work with the business' current structure, a new structure
should be installed at the beginning of this stage. Everyone within the
organization must be made clear of their responsibilities and duties, and how
that fits in with the overall goal. Additionally, any resources or funding for
the venture must be secured at this point. Once the funding is in place and the
employees are ready, execute the plan.
Evaluate and
Control
Strategy
evaluation and control actions include performance measurements, consistent
review of internal and external issues and making corrective actions when
necessary. Any successful evaluation of the strategy begins with defining the
parameters to be measured. These parameters should mirror the goals set in
Stage 1. Determine your progress by measuring the actual results versus the
plan.
Monitoring
internal and external issues will also enable you to react to any substantial
change in your business environment. If you determine that the strategy is not
moving the company toward its goal, take corrective actions. If those actions
are not successful, then repeat the strategic management process. Because
internal and external issues are constantly evolving, any data gained in this
stage should be retained to help with any future strategies.
