16.7. APPLYING A STRATEGY PROCESS
As has been emphasized throughout this chapter, strategic management is a multifaceted process for which many models and tools have been developed for organizations. While there is no one way to craft a strategy, it is fair to say that several activities are common to most strategy processes:
Develop the mission statement, which, in combination with the long-term strategic objectives, expresses the organization's vision, philosophy, and deeper purpose.
Identify trends, potential opportunities and threats. Include information about external trends based upon environmental scanning; identify major potential opportunities and threats that are likely to affect the activities and the mission of the organization.
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