Str/581 Identify The Major Components Of The Strategic Management Process

Career Connection-Values and Strategy GuideNameSTR/581Affiliate InstitutionDateAcorda Therapeutics Inc. is a biotechnology related company that is located in Ardsley, New York. Their central focus is the production of drugs that help patients with diseases such as multiple sclerosis and Parkinson’s, improve their neurological functions. It markets drugs such as Qutenza that aids in neuropathic pain management, and Ampyra that assists patients with multiple sclerosis walk better. The paper will assess the strategic management techniques employed by Acorda to ensure its prosperity, including organizational culture, people strategy, and the organization's goals and objectives. Strategic managementStrategic management is the identification, choice, and execution of long –term organizational goals and objectives (Parnell, 2013).Strategic management requires an analysis of both internal and external factors that may affect a businesses’ performance. Aspects of strategic management include mission statement, goals and objectives, people strategies and innovative strategies.Acorda’s Goals and ObjectivesThe organization prides itself in doing extensive neurologicalresearch. This expertise has been translated to theirproducts lines which aretherapies that rebuild the lives of the patients.The company’s goal is to be the leading biopharmaceutical company that caters to patients with neurological disorders. The achievement of these