This report will be discussing strategic management to a company in the airline industry. This report will examine a chosen company’s strategic management and outline the stages. Strategic management is analyzing the situation facing the firm, also on the foundation of analysis formulating a strategy and lastly implementing strategy. Strategic management is the identification and the description of strategies that can be used by managers so as to attain better performance which in turn will ensure competitive advantage for their organization. It can be used to determine things like the mission, vision, goal, values, mission, timeline objectives, roles and responsibilities. 1.0 Introduction
There are three ongoing processes that strategic management of an organization entails; these are the analysis, decision making and action. The main concern of strategic management is the analysis of strategic goals, as well as the analysis of both the external and internal environment of an organization. A strategic management directs the overall company goals, which includes multiple stakeholders, incorporates short term as well as long term objectives, and oversees the trade-offs between effectiveness and efficiency. Having a good management strategy, an organisation is able to achieve its goals and meets its expectations. With the used use of well formulated strategies, a company will always prosper and generate great results. Without well formulated objective goals a company or an organisation cannot exist, since every company has a reason for it existence.
After analyzing of the organization’s objective goals and a good strategic plan, leaders are expected to make strategic decisions; the decisions should address two basic questions: What is the industry that we should compete with? What formula should be used to compete in those industries? A company needs to know its immediate competitors once it starts operating. A company should formulate a well
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