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Increasing Importance of Strategic Management.

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I LIKED AND RECEIVED A FOLLOWING SITE. LINK FOR THE READING OF THE PREVIOUS LETTER IS DETAILED. A business that does not have strategy that cannot see the future and this business does not have a direction. Daily, routine works cannot create an appropriate and harmonious goal. The strategy is used for creating an aim with focus, accord and harmony by developing guidance plans, models, positions and perspectives for strategic action (Çevik, 2001, p.309). Nowadays, organizational structures of businesses change are based on identified strategies. The business structure should make a flexible action which responses quickly external changes with team works and innovator sources possible. The duty environment of a business is identified as an industry in which it carries on their activities. Social environment does not affect business’ activities in short time. It includes long termed, effective powers that have the general structure (Çınar, 2010, p.1). The development of o
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The Five Stages of the Strategic Management Process

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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 directio
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HOW TO USE THE BCG MATRIX AND EXAMPLES

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To apply the BCG Matrix you can think of it as showing a portfolio of products or services, so it tends to be more relevant to larger businesses with multiple services and markets. However, marketers in smaller businesses can use similar portfolio thinking to their products or services to boost leads and sales as we'll show at the end of this article. Considering each of these quadrants, here are some recommendations on actions for each: Dog products:  The usual marketing advice here is to aim to remove any dogs from your product portfolio as they are a drain on resources. However, this can be an over-simplification since it's possible to generate ongoing revenue with little cost. For example, in the automotive sector, when a car line ends, there is still a need for spare parts. As SAAB ceased trading and producing new cars, a whole business emerged providing SAAB parts. Question mark products:  As the name suggests, it’s not known if they will become a star or
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SWOT ANALYSIS EXAMPLE

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NOVOCULI It is a startup in the US state of North Carolina. The main objective of the company is to produce and sell surgical equipment for eye surgeries.
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WHAT IS THE SWOT?

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Mission Statement Example

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