Running head: STRATEGIC MANAGEMENTStrategic ManagementNameInstitution1STRATEGIC MANAGEMENT2Strategic ManagementWhat are the steps in the strategic management process?There are five stages in the strategic management process namely:Goal setting: This is meant for clarifying the vision for the business.Analysis: This is the step that is involved in gathering and analyzing information. It theinformation gathered here that will shape the next two stages.Strategy formation: The information will involve reviewing the information thusdetermining how the resources will help in defining the goals and objectives.Strategy implementation: The stage is all about action if the process.Evaluation and control: This stage involves a consistent review of external andinternal issues, performance measurements as well as making corrective actions.And why should managers use the strate ...
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