A strategic approach to management suggests that a firm should formulate a mission statement, which articulates the defining essences of the firm's justficiation for existence, core competencies, and growth opportunities.
The strategic approach then suggests that quantified objectives (performance measure and index, proposed future position, and achievement timeframe) be formulated, and formulated in such as way as to contribute toward achievement of the company mission.
Strategies are then brought forth, stating exactly how the objectives are to be obtained.
An action program is set in motion, which implements the strategies in appropriate temporal order, obtaining and learning from feedback acquired as part of the implementation process.
Finally, the adaptation review team moves in, helping to re-formulate strategy, and guide iterative implementation, based upon feedback, and additional environmental sensing, including benchmarking and research.