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  • Essay / Business Management: The Strategic Management Process

    Comment on the tools used to express the strategic intent of each company. Over the past few decades, business strategy has evolved significantly. The management of any company must constantly evaluate and analyze the strengths and weaknesses of the internal environment, and monitor the external environment for threats and opportunities. Companies must define their positions and develop sustainable competitive advantages in the face of these competitive challenges and threats. (Casadesus-Masanell, R and Enric Ricart, J, 2010) Management is expected to take these changes into account and adjust the strategy when necessary. Strategic management is about change and planning to survive in the midst of change. (Smit, PJ et al., 2007). According to Thompson (2012), developing a strategic vision and mission, setting objectives, and developing strategy are fundamental direction-setting tasks. Together, they form a strategic plan or strategic intent to move the organization toward achieving the goals. The strategic management process consists of five interrelated management steps (Thompson, AA et al., 2012) Step 1: Develop a strategic vision, mission and set of values. 2: Set objectivesStep 3: Develop a strategy to archive these objectivesStep 4: Execute the chosen strategyStep 5: Monitor strategic developments, evaluate execution performance and make adjustmentsThe above process will be used to evaluate the strategic management process current status of the selected organizations. We will also examine alternative tools used by the same organizations to express their strategic intent. For the assessment, we used three company websites and annual reports.Step 1 of the strategic management process.The VisionEvery organization needs an inspiring vision to lead it to this...... middle of paper ......here are growth opportunities, particularly in sustainable and environmentally friendly products. There is also strong growth potential in African countries. The removal of the consumption tax in Angola, for example, led to an exceptional increase in the volume of beverage sales. (Nampak Website – Operational Report) Nampak Limited's trading profit from its operations in 12 African countries up to September 2013, soared 60% to R506 million, representing 26% of the group's trading profit . Including South Africa's exports, Africa produced 36% (R690 million) of the group's trading profits. For comparison, Shoprite in its year to June 2013 generated a trading profit of R613 million from its African operations, representing 11.4% of the group's total (Thomas, S 2013). The packaging industry certainly offers attractive profit opportunities for today's packaging companies. However, this is not an easily assessed market for newcomers...