Introduction to Strategic Management Elements of Strategic Management

The strategic management process is made up of three main complements:strategy formulation,strategy implementation and strategy evaluation.Identifying the company's mission and vision is the starting point for the strategic management process.Every organization should have a mission and vision statement because the mission and vision statement set the direction for the where the company is going.In order to achieve the organization's mission,we would need to internationalize the mission statement into strategic objective.

Otherwise,strategy formulation involves designing and developing the company strategies.Once the organization has developed specific strategy alternatives,implementing the strategies is the next stage.Strategy implementation means executing the strategies where the business strategy  is translated into action.The final step in strategy management process is strategy evaluation which seeks to determine  which strategy worked and which were not successful.

 Robin Hood case study.


1.What strategic problems does Robin Hood have?
    a) Economic Problem

• The band of Robin Hood was highly dependent on outright.The band operation cost to support the function is lower as the public contributes voluntarily or involuntarily to the band with money and other materials.The money is mainly used for food supply of band.However with the rapid expansion of band,the revenue income from outright confiscation and robbing of rich become limited and constrained to the band.It could cause potential problem to the further development of band the stab ability of the moral of band.

    b) Management Problem

• Vigilance was in decline and discipline was becoming harder to enforce. 
• How to manage the growth and organic maturity of his organization.

    c) Political Problem 

• High Sheriff of Nottingham has strong allies in the court and has strong sources of finance and political support.But Robin Hood is a sole player who has no allies but many enemies.

2. What strategy can Robin Hood implement??

• Robin Hood should accept the offer of the barons to work on freeing King Richard.It must join the barons and embrace a bigger picture.Besides,Robin Hood should sent a delegation o his most trusted man to the barons for a preliminary meeting to discuss a potential alliance.The barons would supply the strategy plan,knowledge of the working of the court,logistic and supplies.Robin Hood supply the man to help raise fund for the ransom and to implement the details of the plan.It would be good partnership.The barons would be like modern-day investors.Otherwise,Robin Hood and his man would be workforce in the company.It could be really great partnership.