Modelling the strategy management process

Abstract

Businesses face increasing competition in local, international and global markets where responsiveness to changes within these markets is the key to success and survival. Consequently business strategies need to be consistently re‐defined to effectively reflect the different requirements of customers and to respond to changes in the business environment. The process of generating strategies is not always a simple decision‐making task and revised business and corporate strategies are often generated without considering the structure of the business, particularly at operational level. Furthermore, there is considerable vagueness in the literature and in practice about what constitutes strategy management. This paper reviews the diverse literature in strategy management and presents a business process model of the strategy generation process to ensure consistent generation and communication of strategy throughout an organisation. The performance of a business strategy can then be measured against a model of initial alignment and effective implementation.