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Process of Strategic Management- Millercoors

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Submitted By Jake51
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As companies attempt to reconstruct their main focus and purpose as a company, they must take a step back and understand the process of their strategic plan. There are a series of five steps that each company should follow when completing the process of strategic management. Each step is very critical for when wanting to achieve success, and I believe that MillerCoors Company is an organization that has completed this series of steps to achieve success in their industry.
Mission Statement
The first step in the process is creating a mission statement, as easy this sounds, creating a mission statement is rather difficult. According to the MillerCoors Sustainability Report, “MillerCoors Company is committed to providing the highest quality beer product at the lowest price in order to satisfy and exceed the expectations of our loyal customers.” This mission statement is rather general and short but it is to the point. It shows the mission that MillerCoors wants to accomplish. Once MillerCoors is able to generate a mission statement, the next step in the strategic management process is to analyze the external environment in which the company operates.
Environmental Analysis
When analyzing the environment, MillerCoors must identify the key competitors that pose a threat and can deter opportunities for their business. MillerCoors has a few major competitors and numerous small ones as well. MillerCoors is in the beer and liquor industry, the main competitors are: The Boston Beer Co., Heineken USA Co and Anheuser-Busch InBev SA. Their competitors are on an international level as well, and MillerCoors must identify if there are any barriers to entry and any opportunities for them to merger. There will always be barriers to entry for smaller competitors but with a large power company like MillerCoors, there is not too many barriers for them. These three main competitors

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