Strategic Management Cycle
In this module (and throughout the course) we will be discussing the strategic management cycle. And although organizations tend to consider organizational strategy yearly, organizational strategic plans tend to be multi-year endeavors often looking 5 or more years into the future. Given the typical 5 year outlook, discuss why companies go through the strategic management cycle yearly and why this is a good (or bad) idea. Give examples of companies that have incorporated strategies that took years to realize and discuss how annually revisiting a company's strategic direction can influence an organization's success in a competitive environment for longer range plans.