Strategic Management Process Paper: Pacific Gas and Electric

Strategic management process paper
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Introduction
Coming up with a strategy for a company remains a crucial part of any organization. The role of a strategy is one that remains central to the operations of an organization. Coming up with a strategy involves stages with each stage forming a platform for the next stage. This paper has focused on the basics of a strategy development and the specific plan adopted by Pacific Gas and Electric.
Basic Components
There are four main components of strategic management process. They include an analysis of competiveness, formulation of the strategy, development of the strategy and finally implementation of the strategy. In analyzing the competiveness of the business, the focus usually is on the SWOT of the company. The purpose is to establish the competitive position of the company as compared to other industry players.
After making this analysis, the next step is to come up with a suitable strategy for the company. A suitable strategy often will be based on the earlier analysis done to ensure that the company is best positioned in the market (Harrison, 2013). The strategy formulation will align to the goals and aspirations of the company. The end result is to beat all other players in the game and become the ‘go to organization’ in the sector.
Once the strategy formulation is completed, the next step is to develop. Formulation is more of a shell where only key points are discussed. Development involves detailing the strategy to ensure its practicability. The small details on exactly how it is intended to work and achieve intended purpose is all captured in the development stage. It is at this stage that specific customization is done to fi...