An iterative process framework for organizing myriad information flows, analyses, issues, and opinions that coalesce into strategic decisions. There are four stages to this process: (1) situation assessment-the analysis of internal and environmental factors that influence business performance, combined with a comparison of past performance relative to objectives and expectations, (2) strategic thinking-identification of key issues that have a major impact on performance and the generation of creative strategic options for dealing with each issue, (3) decision making-selection of strategic thrust, choices of options, and allocation of resources in light of mutually acceptable objectives, and (4) implementation-ongoing activities that translate strategic decisions into specific programs, projects, and near-term functional action plans. The process is iterative because the implementation phase will eventually be followed by a revised situation assessment.