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What Are the Five Major Components of the Strategic Management

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What are the five major components of the strategic management process that are relevant to strategy formulation?


Definitions:

Consciousness

The state of being aware of and able to think about one's self, surroundings, and thoughts; the essence of sentience.

Dual Processing

Refers to the principle that our mind operates on two levels: a conscious, deliberate mode, and an unconscious, automatic mode.

Parallel Processing

In cognitive science and computer science, it refers to the ability of the brain or a computer to process multiple tasks simultaneously.

Inattentional Blindness

Inattentional blindness is the psychological phenomenon where an individual fails to perceive an unexpected stimulus in plain sight due to focusing attention on another task or aspect.

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