explain the concept, relevance, application and usefulness of strategic management to managing planning process of del monte philippines incorporation.

Strategic management is a concept that involves the formulation and implementation of long-term goals and objectives for an organization. It is a systematic approach to managing the planning process and ensuring that the organization is moving in the right direction.

In the case of Del Monte Philippines Incorporation, strategic management is highly relevant as it helps the company align its resources and capabilities with its overall mission and vision. By developing a strategic plan, Del Monte can identify its strengths, weaknesses, opportunities, and threats, and devise strategies to capitalize on its strengths and opportunities while mitigating its weaknesses and threats.

The application of strategic management in the planning process of Del Monte involves several key steps. Firstly, the company needs to conduct a thorough analysis of its internal and external environment. This includes assessing its internal resources, such as its workforce, technology, and financial capabilities, as well as analyzing the market trends, competition, and regulatory factors that may impact its operations.

Once the analysis is complete, Del Monte can then set clear and achievable goals and objectives. These goals should be aligned with the company's overall mission and vision and should be specific, measurable, attainable, relevant, and time-bound (SMART). For example, Del Monte may set a goal to increase its market share in the canned fruit industry by 10% within the next three years.

After setting the goals, Del Monte needs to develop strategies to achieve them. These strategies may include product diversification, market expansion, cost reduction, or innovation. The strategies should be based on the company's strengths and opportunities, and should also consider the potential risks and challenges.

Once the strategies are developed, Del Monte can then allocate resources and implement the necessary actions to execute the plan. This may involve reallocating budgets, restructuring teams, or investing in new technologies. It is important for the company to monitor the progress of the plan and make adjustments as needed to ensure its effectiveness.

The usefulness of strategic management in the planning process of Del Monte is significant. It provides a structured approach to decision-making, helps in identifying and prioritizing key issues, and ensures that the company is proactive in responding to changes in the business environment. By having a strategic plan in place, Del Monte can also enhance its competitive advantage, improve its financial performance, and achieve long-term sustainability.

In conclusion, strategic management is a crucial tool for managing the planning process of Del Monte Philippines Incorporation. It helps the company align its resources and capabilities with its overall mission and vision, set clear goals and objectives, develop effective strategies, allocate resources, and monitor progress. By implementing strategic management, Del Monte can enhance its competitiveness and achieve long-term success in the market.