Strategic

Management Process Strategic Management Process(2)

Strategic
analysis

Strategy
formaXon

Strategy
implementaXon
Adapted from Exhibit 1.2 Realized Strategy and Intended Strategy: Usually Not the Same
Source: H. Mintzberg and J. A. Waters, Of Strategies, Deliberate and Emergent, Strategic Management Journal 6 (1985), pp.
257-72.

14
1-13

Strategy FormulaXon 3 levels of management & plans

CEO Corporate
A firms strategy formulation is developed at Corporate level
Top managers level planning
several levels:
Business-level
Corporate level Business (or Middle Business level
divisional) level managers planning
International

FuncXonal (or First-line FuncXonal

department) level managers level planning

16
1-15

Stakeholders dierent interest and

Corporate Governance
conicXng demands: zero sum or
Top symbiosis
Management
Team
Immediate stakeholders:
Stockholders, employees,
customers, suppliers,

Shareholders Board of
directors

community Government
17 18