Empowered to formulate

strategic management involves decision make , verbal expression and implementation of plans and carrying out actions towards achieving the objectives as changes are brought forth in the business line surround and complexity of the equines. It is a continuous, long term process that requires strategic foresight and consists of risk.The strategic management is empowered to formulate policies regarding capital investment, mergers, elaborateness and so on. Some of the areas looked at under this management Operations decisions pertaining to achievement scheduling, inventory levels, pricing, marketing schema, etc. These are often repetitive in nature, decentralized and at a the functional level Administrative changes in organization triggered by strategic and operating problems. Strategy formulation smut fungus Analysis Strength- Weaknesses of the firm-opportunities-Threats. The four conditions will indicate the portfolio strategy and other strategies it should pursue.It presents it self as a systematic approach. Strength strong brand name, quality products, claim of the art tech, strong R&038D support, good human imaging management, good industrial relations, good reserves and advanced credit rating, high-octane board of directors Weaknesses poor sales force, weak distribution, poor inventory management, high costs, poor human resources, poor morale, low credit rating and incompetent managers. Opportunities regulation, import liberalizing, economic boom, favorable change in customer behavior, consumerism Threats political instability, recession, lower income and reduction in population.TOES Matrix strategy- formulation tool found on internal(s w) and external factors(o t) SO strategy maximize strength, maximize chance WOW strategy minimize weakness, maximize opportunity SST strategy maximize strength, min threat WIT strategy min weakness, min threat. Strategic management has its downside too it requires highly experienced or qualified members making it a costly affair. Even good strategies lacking implementation whitethorn not yield the expected result thus causing frustration. The environment can be highly unpredictable bringing risks and a MIS-timed strategy can result in heavy losses.