1. Strategic - Planning 5 Key Focus: Define mission and objectives Assesses both the internal and external situation Formulate strategy Implement strategy Evalution and Control

2. Strategic - Planning Mission and Objectives vision values purpose visionary goals opportunities measurable financial and strategic objectives sales targets and earnings growth business position, market share and reputation 3. Strategic - Planning Access internal and external situation Environmental Scan SWOT analysis (internal analysis) Porters 5 (industry analysis - entry barriers,suppliers, customers, substitute products,and industry rivalry) PEST analysis (external macro environment) 4. Strategic - Planning Strategy Formulation match strengths to opportunities from analysis address its weaknesses and external threats develop a competitive advantage over its rivals Cost Product differentiation Service differentiation 5. Strategic - Planning Strategy Implementation programs budgets resources procedures communication 6. Strategic - Planning Evaluation & Control define parameters to be measured define target values for parameters perform measurements compare measured results to the pre- defined standard Make necessary changes