What Are The Five Major Tasks Of Strategic Management?

There are five major tasks, the combination of which, concludes the process of Strategic Management.  The first and most important step is to establish a strategic vision- that is to determine where the organization would be heading in a certain amount of time.  Second in the line is the phase of crafting objectives that will help the organization in reaching its vision.  Next in the line is the stage of formulating strategies that will espouse the objectives and help the company achieve the desired results.  The penultimate task is a very crucial one as it is inclusive of implementation of the strategy, marking the practical outset of the process.  Last step in the array is evaluation of the outcomes.  In other words, the results would be assessed and measured against the expected outcomes and the level of compatibility will be measured.  The combination of all these five steps constitute the process of Strategic Management.