These are the top level processes that an organization is exposed to.

These include tasks that need a high leve wide spread effects in the structure and functioning of the organization. The nature of these processes can be c performs.

Here are some of the characteristic features of these processes and what makes them so challenging an Multiple Sources of Data

A strategic process is concerned with making decisions. Decisions are made only after data from various source from both within the organization as well as from the environment outside the organization. To add to this, it is th that the data is relevant and credible. Hence strategic processes face a data overload and also a possibility that decision making in the face of uncertainty that makes designing a strategic process challenging.

Strategic management process of ICICI Bank:In order to develop a good strategy , organizational members must identify the currentVISION, MISSION, OBJECTIVE & STRATEGY. In todays world as the global order is becoming very competitive so to sustain in the industry organizations has to think strategically. If strategic thinking will be there then organization will get advantages. As general rule says that profit maximization is neither possible or nor attainable so in that case organizations need to be very specific & clear about their strategies. In case of ICICI if we can see what their vision is we can get clear picture about their strategies & also about their objectives for their future growth. VISION:- To be the leading provider of financial services in India and a major global bank. MISSION:We will leverage our people, technology, speed and financial capital to:

be the banker of first choice for our customers by delivering high quality, worldclass products and services. expand the frontiers of our business globally. play a proactive role in the full realization of Indias potential. maintain a healthy financial profile and diversify our earnings across businesses and geographies. maintain high standards of governance and ethics. contribute positively to the various countries and markets in which we operate. create value for our stakeholders.

In case of strategic management we need to consider 4 important aspects & they are as follows1. Environmental Scanning- Environmental scanning refers to a process of collecting, scrutinizing and providing information for strategic purposes. It helps in

analyzing the internal and external factors influencing an organization. After executing the environmental analysis process, management should evaluate it on a continuous basis and strive to improve it. In case of ICICI Bank they has done the scrutiny very well. If we can follow their past history we can see that they have started in the early days of 1955 just a couple of years after Indias independence. It implies that they had a very futuristic thinking & they were really very much advance in their thinking. ICICI basically came into its full strength when it was promoted by ICICI Limited in the year 1994 .

2. Strategy Formulation- Strategy formulation is the process of deciding best course of action for accomplishing organizational objectives and hence achieving organizational purpose. After conducting environment scanning, managers formulate corporate, business and functional strategies. In case of ICICI Bank they were quite advance. As they were started early so they have the first movers advantage. Not only that they were so through in their strategy that they become the first Asian non Japanese Bank to get listed in the NYSE at very early stage in 1999. As per strategy formulation they were very clear about their vision which is their long term objective also that to be the leader in proving financial services in India & to be a global bank. 3. Strategy Implementation- Strategy implementation implies making the strategy work as intended or putting the organizations chosen strategy into action. Strategy implementation includes designing the organizations structure, distributing resources, developing decision making process, and managing human resources. In case of ICICI Bank they have already started towards fulfilling their vision which is their objective also. They have started operating in more than 19 countries all over the world. Not only that they have a very creative & innovative marketing team that work to bring the best for the customers of ICICI & also towards converting the non customers to the customers. We can take a very brief example about offering Internet banking in 2000, most people in India were skeptical, given the low penetration of PCs and email in India. Todays more than 75 percent of the retail accounts at ICICI bank are Internet enabled. The cost per customer is Rs 4 for Internet banking as compared to Rs 13, Rs 14 and Rs 45 for ATM phone, and traditional banking. Today ICICI bank is the market leader on most retail products, and the second largest bank in India. The success of ICICI banks Internet based retail banking strategy was a result of understanding the technological and social changes that are taking place in India.

4. Strategy Evaluation- Strategy evaluation is the final step of strategy management process. The key strategy evaluation activities are: appraising internal and external factors that are the root of present strategies, measuring performance, and taking remedial / corrective actions. Evaluation makes sure that the organizational strategy as well as its implementation meets the organizational objectives. They are not only ends here. They have a very big team for taking customers feed back so that they can improve their services day in & day out.