Portfolio Management is about making sure your organisation makes the right investments and gets the returns it needs for organisational growth and delivery of its Mission. This infoKit is part of a series of linked resources for senior managers and decision makers
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Strategic Management
Processes
Strategic management is a combination of three main processes which are as follows:
Strategy formulation
• Performing a situation analysis, self-evaluation and competitor analysis: both internal and external; both micro-environmental and macro-environmental.
• Concurrent with this assessment, objectives are set. These objectives should be parallel to a timeline; some are in the short-term and others on the long-term. This involves crafting vision statements (long term view of a possible future), mission statements (the role that the organization gives itself in society), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives.