When you reply to two classmates' posts, respectfully agree/disagree to the post, and explain why, while offering an opinion with an example to support it with citations and references.

classmate 1:

Briefly discuss the key activities in the strategic management process.

The key activities in the strategic management process are strategy analysis, strategy formulation, and strategy implementation. They set the strategic direction as they define long-term goals and objectives with the ability to create purpose-driven mindset. With the organizational vision and goals in mind, they strategically analysis firms' external and internal environment to know their strength as well as their weaknesses.

Why is it important for managers to recognize the interdependent nature of these activities?

It is important for Managers to recognize the interdependent nature of these activities because it creates alignment and consistency in term of execution of the overall strategy. It will help to mitigate the risk in strategic misalignment. Also, Adaptation and agility is of essence in their strategic management. Understanding the business environment will assist the managers to recognize business activities that can impact the system. Furthermore, Managers must consider strategy formulation, implementation, and evaluation as regards to continuous improvement. It gives an open door for feedback and encourage strategic decision-making.

Why do firms need to have a greater strategic management perspective and empowerment in the strategic management process throughout the organization?

Firms need to have a greater strategic management perspective and empowerment in the strategic management process throughout the organization because strategic management is a serious function of an organization's accomplishment. It involves making decisions that will form the organization's future, and as such, it requires a broad perspective and a deep understanding of the organization's

Reference:

1. Porter, M. (2020, May 16).Competitive Strategy
2. SME Strategy. (2017, March 24).The Steps of the Strategic Planning Process in under 15 Minutes
3. Ewing, J. (2012, May 27).Mission, Vision, and Strategy
4. Athapaththu, H.K.S. (2016).An Overview of Strategic Management: An Analysis of the Concepts and the Importance of Strategic Management
5. Al-tit, A. (2017).Factors Affecting the Organizational Performance of Manufacturing Firms.

Classmate 2:

Strategic management is the activities to help an organization reach its goals. Dess et al. (2021) state,"Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. This definition captures two main elements that go to the heart of the field of strategic management" (p.6). The key activities within the strategic management process include strategy analysis, strategy formulation, and strategy implementation. Each step in the strategic management process must be completed for success with organizational strategies. Managers should recognize that each of these steps in strategic management are interdependent. Analyzing data and the internal and external environment are parts of strategy analysis. This step is important to understand the factors that affect the organization and this is the first step in developing a strategy for success. With strategy formulation, competitive advantage is the focus and managers make decisions around investments and commitments of the organization. Finally, strategy implementation involves, carrying out the organization's strategic plan through leadership and strategy controls. Without all of these different activities occurring, business strategy is unlikely to be successful.

Firms with greater strategic management perspectives and empowerment in the strategic management process, have greater success and a better competitive advantage. According to Athapaththu (2016), "Strategic Management makes an organization to be more proactive, rather than reactive to initiate and influence activities to control by its own in molding its own future. Today most of the organizations has recognized and realized the benefits of strategic management" (p.126). Firms that embrace the value of strategicmanagementare more prepared for threats in the environment, have better buy-in from employees and managers, and better communication between employees and managers. Not only does strategic management help firms gain competitive advantage, butalsobetter prepares an organization to be flexible and adaptable as the environment changes.

References:

Athapaththu, H. (2016). An overview of strategic management: An analysis of the concepts and the importance of strategic management. International Journal of Scientific and Research Publications. 6(2). pp. 124-127.

Dess, G., McNamara, G., Eisner, A., & Lee, S. (2021). Strategic Management: Text and Cases (10th ed.). New York City: NY: McGraw Hill.