For example, the process of strategy planning consists of the following steps:
- formulate missions and goals
- conduct external analysis to identify opportunities and threats in external competitive environment
- conduct internal analysis to identify strengths and weaknesses in internal operating environment
- formulate strategies, according to the missions and goals, opportunities and threats and strengths and weaknesses.
- implement formulated strategies
- monitor and control the execution of implemented strategies
Is business process involved in some step(s) of the strategic planning process?