The strategic management process is the backbone of any successful organization, serving as a

roadmap for achieving long-term goals and adapting to the dynamic business environment.
Fuertes et al. (2020) define a strategic management process as a deliberate and continuous series
of operations carried out by a firm to successfully achieve its objectives and minimize
dependence on unplanned occurrences. It involves a comprehensive framework that guides
organizations in analyzing their environment, defining objectives, formulating strategies,
implementing plans, and evaluating outcomes. CEOs and founders such as Elon Musk, Jeff
Bezos, and Jack Ma have demonstrated the immense power of well-implemented strategic
management in propelling their companies to global success. The responsibilities associated with
this process encompass various critical aspects that determine the overall direction and
effectiveness of a business as discussed in this paper.

At the forefront of the strategic management process is the establishment of a strategic intent.
Strategic intent is the term which is used to express the purpose of an organization. In broad
terms strategic intent according to Ibrahim, (2023) is vision and mission statement of the
organization and to be more specific it is further integrated and interpreted as aims and
objectives of business level. This responsibility entails articulating a clear and compelling
mission statement that resonates with stakeholders and aligns organizational efforts toward a
common goal. In doing so, companies not only define their long-term vision but also set the tone
for organizational culture and values. A well-defined strategic intent not only motivates
employees but also aids in decision-making processes, ensuring that all actions are geared
towards achieving the overarching objectives. For instance, Elon Musk's strategic intent for Tesla
has always been to accelerate the world's transition to sustainable energy. Musk asserts that this
ambitious goal is not just about selling electric cars, but about disrupting the entire energy and
transportation sectors (Vance, 2015). In the Zimbabwean context, Econet Wireless under the
leadership of Strive Masiyiwa exemplifies strategic intent, with Masiyiwa envisioning a
connected Africa long before mobile telephony became ubiquitous across the continent
Masomere (2021).

Sometimes strategic leaders impose their intent or strategic goals onto a company’s strategy,
structure, and culture from the top down to create a desired future state. Apple under its co-
founder and long-time CEO Steve Jobs, Apple according to Fishman, (2016) was one of the few

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successful tech companies using a top down strategic planning process. Jobs felt that he knew
best what the next big thing should be. Under his top-down, autocratic leadership, Apple did not
engage in market research because Jobs firmly believed that “people don’t know what they want
until you show it to them. In his well-researched, 700- age biography of Steve Jobs, Walter
Isaacson presents Jobs’ lessons in strategic leadership in 14 memorable aphorisms, including
push for perfection, tolerate only “A” players, and bend reality. The traditional top-down strategy
process served Apple well in its journey to becoming the world’s first company to be valued at
$3 trillion. Under Tim Cook, Jobs’ successor as CEO, Apple’s strategy process has become more
flexible (Fishman, 2016). The company is trying to incorporate the possibilities of different
future scenarios and bottom-up strategic initiatives.

Once the strategic intent is established, the next responsibility lies in the formulation of
strategies. This phase requires thorough analysis and creativity to devise effective approaches
that leverage the organization's strengths while mitigating weaknesses. As noted by Barney and
Hesterly (2012, strategy formulation is not merely about setting objectives but involves a
comprehensive understanding of both internal and external environments. Alibaba’s founder
Jack Ma, for instance, recognized the untapped potential of e-commerce in China early on and
formulated a strategy that focused on creating a robust online marketplace that catered to small
businesses and consumers alike. Ma’s vision and strategy were grounded in creating an
ecosystem of trust, efficiency, and scale, which eventually made Alibaba one of the largest e-
commerce companies in the world (Wang, 2020). Similarly, Tesla, under the leadership of Elon
Musk, has continuously innovated its product line and market approach, focusing on
sustainability and cutting-edge technology (Vance, 2015). Musk’s assertion that “the first step is
to establish that something is possible; then probability will occur” reflects the importance of
visionary thinking in strategy formulation. Furthermore, the strategic formulation phase often
utilizes frameworks such as SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to
identify critical factors influencing the organization’s success, thereby ensuring that strategies
are well-informed and targeted Hitt et al, (2020).

Once a strategy is formulated, the responsibility shifts to implementing and executing strategies.
This is often the most challenging phase as it requires aligning resources, leadership, and
organizational culture with the strategic goals. Successful implementation hinges on the ability to

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mobilize organizational resources and align them with strategic goals. McDonald’s provides a
prime example of effective strategy execution. With its global "Plan to Win" strategy,
McDonald's focused on improving core aspects such as customer experience, menu variety, and
operational excellence. Likewise, Walmart also serves as an exemplary case study in this regard.
The company’s CEO, Doug McMillon, has emphasized the importance of leveraging technology
and data analytics to enhance operational efficiency and customer experience (McMillan, 2021).
By investing in supply chain management and innovative logistics, Walmart has successfully
executed its strategy to maintain market leadership in retail. As argued by Kaplan and Norton
(2016), execution is as vital as strategy formulation, underscoring that a brilliant strategy is
rendered ineffective if not properly implemented.

In addition to execution, the responsibility of strategic evaluation is fundamental to the strategic

management process. At this phase all the strategies are constantly monitored. The implemented
strategies are reviewed and assessed on the basis of their outcome. According to Johnson et al,
(2021) here, the deviations are found and necessary and corrective actions are taken so as to keep
the actual performance in conformance with desired performance of the resources. This phase
involves assessing the effectiveness of implemented strategies and making necessary adjustments
to ensure continued alignment with the organization’s strategic intent. A continuous feedback
loop allows organizations to respond to changing market conditions and internal dynamics.
Netflix, once a DVD rental service, continually evaluates its strategy in response to market
shifts. Its CEO Reed Hastings executed a bold shift from DVD rentals to online streaming, which
involved significant investments in technology and content creation. Hastings posited that this
strategy was critical to staying ahead of the curve in the fast-evolving entertainment industry
(Wallenstein and Fong, 2019). The strategic shift propelled Netflix to become the dominant
player in global streaming services. By consistently evaluating market trends and consumer
preferences, Netflix has remained relevant in an industry characterized by rapid change.

The feedback loop in the strategic evaluation process is also critical for identifying areas of
improvement. As argued by Peter Drucker (2014), “what gets measured gets managed.” Strategic
evaluation allows organizations to measure their success against their set goals, identify
shortcomings, and re-strategize where necessary. Twitter’s rebranding to X under Elon Musk’s
leadership also demonstrates the importance of strategic evaluation. Musk's decision to shift

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Twitter’s direction was based on his vision of transforming the platform into a multi-functional
app, combining social media with financial transactions. While this move is still in progress,
Musk's ability to assess Twitter's existing limitations and realign its strategy showcases the
iterative nature of strategic management (Musk, 2023). In addition, Walmart’s global expansion
strategy further illustrates how careful strategic planning and execution can lead to sustained
success. Walmart’s “Everyday Low Prices” strategy allowed it to dominate local markets by
offering superior value to consumers. However, as the company expanded internationally, it
faced new challenges, particularly in markets like Germany, where local competition was fierce.
Walmart’s strategy evaluation process revealed that simply replicating its U.S. model would not
work in every market. This led to the development of region-specific strategies, demonstrating
the importance of ongoing evaluation and adaptation (Isaacson, (2011).

Notwithstanding the above four cornerstones, the responsibilities of the strategic management
process extend beyond individual organizations; they also encompass the broader context of
industry dynamics and competitive positioning. Companies must be aware of the competitive
landscape and the potential impact of external factors on their strategies. For instance, in the
highly competitive fast-food industry, McDonald's has consistently adapted its strategies to meet
changing consumer preferences and market trends. The company’s global CEO, Chris
Kempczinski, articulated that “the key to success is being agile and responsive to what customers
want” (Kempczinski, 2020). This adaptability showcases the importance of situational awareness
in strategic management, enabling organizations to pivot and innovate in response to competitive
pressures.

Risk management is another essential responsibility within the strategic management process.
Jeff Bezos famously stated that “failure and invention are inseparable twins” (Bezos, 2017),
emphasizing the importance of taking calculated risks while managing the downside. Amazon’s
willingness to take risks, such as launching new products and entering uncharted markets, has
been a cornerstone of its success. Similarly, Innscor Africa’s strategic diversification into
different sectors has mitigated the risk of over-reliance on any single product line, ensuring the
company’s longevity (Marange 2021). Furthermore, strategic management also encompasses the
responsibility of stakeholder engagement. As Freeman (2014) argued, organizations must
account for the interests of various stakeholders, including employees, customers, suppliers, and

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shareholders, when developing and executing strategies. Facebook’s transformation into Meta
under Mark Zuckerberg’s leadership reflects this, as the company’s rebranding is aimed at
positioning itself for the future while addressing concerns from regulators and users about data
privacy and misinformation (Newton, 2021).

In a nutshell, the strategic management process encompasses a range of responsibilities that

collectively ensure organizational alignment, adaptability, and long-term success. From
establishing a clear strategic intent to formulating and implementing effective strategies, as well
as evaluating performance and embracing continuous improvement, organizations must navigate
complex and dynamic environments. Through the insights and experiences of industry leaders
and successful companies, it is evident that strategic management process is not merely a
theoretical framework but a practical approach that drives organizational excellence.

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Johnson, G., Scholes, K., & Whittington, R. (2021). Exploring Corporate Strategy. Pearson
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