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The world's 500 largest companies generated $32.7 trillion in revenues and $2.15 trillion in profits in 2018. Together, this year's Fortune Global 500 companies employ 69.3 million people worldwide and are represented by 34 countries. Using the Fortune Global 500 list a select a company from the 500 companies in the 2019 list for this GBA.
The COVID-19 situation has disrupted global economies and drastically affected almost every company in the world, and your company is not spared as well. Your CEO has instructed your team to develop a strategy to help the company recover from this crisis, using the Strategic Management Process.
(a) The first step of the Strategic Management Process is to Review and Define the Organisational Mission. For this first step, research on your company's vision and current strategy. Develop a set of mission statements to meet your CEO's direction.
(b) The second step of the Strategic Management Process is to Analyse and Formulate Strategies. Using SWOT analysis and any other relevant methodologies, formulate and present an ideal set of strategies to meet the mission statements in (a).
(c) The third step of the Strategic Management Process is to Set Objectives to Achieve Strategies. Based on inputs from (a) and (b), develop objectives which can translate the organisational strategy into specific, concrete, measurable terms, following the SMART (Specific, Measurable, Assignable, Realistic and Time-related) method. Each level below the organisational objectives should support the higher-level objectives in more detail.
(d) The fourth step of the Strategic Management Process is to Implement Strategies through Projects. Based on this, develop a series of projects to support (c). You should have at least SIX or more projects developed. Classify your projects into the following categories: (i) Compliance (ii) Operational (iii) Strategic
(e) Based on the given projects, create a Project Screening Matrix to quantify and qualify the prioritisation of project.
Company Profile (China Communication Construction, n.d)
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