Chapter 2 : The Nature of Strategic Management

Salam Everyone!!!

On the second lecture,we learned 2 topics which are "The Nature of Strategic Management" and "Business Vision and Mission".At the first topic Miss Ummi emphasized the meaning of strategic management and it process.
The strategic management have 3 stages which are:

1)strategy formulation

2)strategy implementation

3)strategy evaluation

based on my understanding, strategy formulation is our early planning before do something.strategy implementation is we conduct and do on what we have plan in the early and lastly strategy evaluation is a result whether our first planning is success or not.

for the second topic,what can i understand about business vision and mission is,before we start up our business,the first thing that we must defined is our goals.

Jazakallah...