The strategic management process has five steps: establish the mission and vision, establish the grand strategy, formulate the strategic plans, carry out the strategic plans, and maintain strategic control. Feedback may occur at all times to revise these actions. This activity is important because proper use of strategic management techniques is associated with increased business performance.

The goal of this exercise is to challenge your understanding of the strategic management process.

Read the case below and complete the activity as directed.

Founded by entrepreneurs Bill and Vance Gordon, Enjuba is a textured goods manufacturer that sells handiworks produced in the African country of Kenya. As Enjuba is their first start-up company, Bill and Vance are unsure of how they should proceed. They know that they need to have a statement that explains their companys reason for being and have decided on Enjuba exists to better represent the quality and handiwork of the African people through fair trade that benefits the producers, customers, and society at large. After completing an assessment of the market, Bill and Vance must decide on three main strategies: growth, stability, and defensive. Upon careful review, they decide on a growth strategy to capitalize on its new products and services. With this immediate strategy established, Bill and Vance also need to develop a one- to five-year strategy that communicates Enjubas general goals as well as how the goals will be achieved. After completing an analysis, the most appropriate strategy would be a differentiation strategy that offers unique and superior products when compared to current market offerings. Within the next one to five years, Bill and Vance intend to put their plan into place and implement it by overcoming any market resistance. Additionally, they will consistently review the market offering against their original plan to ensure that their product is unique and being produced and marketed effectively.

Factor 1 Factor 2 Factor 3 Factor 4 Factor 5 Factor 1 Factor 2 Establish the mission, vision, and values statements Assess the current reality Formulate corporate, business, and functional strategies Execute the strategies Maintain strategic control