International Strategic Management is a planning process of developing international strategy in the direction of achieving strategic-fit between the organisation's competence & resources and the global environment under which it tends to operate. It is an ongoing process that adhere an organization to compete in an international scenario. International Strategic Management (ISM) is an ongoing management planning process aimed at developing strategies to allow an organization to expand abroad and compete internationally. Strategic planning is used in the process of developing a particular international strategy. An organization must be able to determine what products or services they intend to sell, where and how the organization will make these products or services, where they will sell them, and how the organization will acquire the necessary resources for these tasks. Even more importantly an organization must have a strategy on how it expects to outperform its competitors. 2.00The Course of Strategic Decision Making, the Types processes and Implication for the Managers
2.01Course of Strategic Decision Making:
Strategy formulation is the process of deciding best course of action for accomplishing organizational objectives and hence achieving organizational purpose. After conducting environment scanning, managers formulate corporate, business and functional strategies
The initial task in strategic management is typically the compilation and dissemination of a mission statement. This document outlines, in essence, the raison d'etre of an organization. Additionally, it specifies the scope of activities an organization wishes to undertake, coupled with the markets a firm wishes to serve. Following the devising of a mission statement, a firm would then undertake an environmental scanning within the purview of the statement. Strategic formation is a combination of three main processes which are as follows: •Performing a situation...