An Executive-Level Perspective on the Strategic Management Process

by John Pearce

Fall 1981

Volume 24
Issue 1

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The article presents an executive level perspective on the strategic management process. The processes which businesses use as a means to formulate and direct their strategic management activities vary among companies. The mission of a business is the fundamental, unique purpose that sets it apart from other firms of its type and that identifies the scope of its operations in product and market terms. The mission is a general, enduring statement of company intent. A company profile is the product of a firm's internal analysis which determined its performance capabilities based on existing or attainable resources. It depicts the quantity and quality of financial, human, and physical resources available to the firm. It assesses the inherent strengths and weaknesses of the firm's management and organizational structure. The simultaneous assessment of the firm's forecasted environment and its company profile enables a firm to determine the range of interactive opportunities which it might find attractive. These opportunities represent the alternatives which are possible avenues for investment.

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