Question

What is the strategic management process? The CEO decides who the product managers will be for a company. Strategic leaders focus on creating a vision that reflects the company's strategy. The CEO defines the main problems facing a company. Strategic leaders design a method to formulate and implement strategy.

Answer 1

Answer:

The correct answer is Strategic leaders design a method to formulate and implement strategy.

Explanation:

Strategic Management is a process of systematic evaluation of your business, through which long-term objectives are defined, goals and objectives are identified and, very importantly: strategies are developed to achieve the objectives and resources are located to implement them.

Strategic Management serves to determine, based on the point at which your business is located, where you want to go and, most importantly: what decisions you must make along the way to achieve it.

There are four essential phases that make up the Strategic Management process:

1. Environmental analysis: what are the strengths and weaknesses of your business in its contexts and environment.
2. Formulation of the strategy: for this, we must take into account the reasons that move us, define the objectives and desired results, the deadlines to achieve them, company policies and set of strategies to implement and the resources that will be necessary to achieve it .
3. Implementation of the strategy: based on planning each step, designing specific procedures and allocating sufficient budget for each of them.
4. Evaluation and control: to ensure that we do not deviate from the objectives and that the strategy is being implemented correctly, as we have defined in the planning and procedures.

The four phases combined represent a powerful diagnostic and analysis tool, key in decision-making that pertains to the business, which is why the implementation of these generates as a consequence the efficiency in the management of your Horeca business (and any Business Type).