Page 8 - Introduction to strategic management
P. 8
1- Explain What is Strategic
Management
Strategic Management is important to the success of an organization as:
It helps the managers and employees to do appropriate things in
an appropriate manner and make them both effective as well as
efficient.
Strategic management helps to keep a continuous on the goals
and objectives of the organization.
Strategic management helps the employees to understand the reaction of
environmental changes on the organization and the probable response of the
organization with the help of strategic management. Thus the employees can
judge the impact of such changes on their own job and can effectively face
the changes.
It helps to incorporate various functional areas of the organization
completely, as well as, to ensure these functional areas harmonize
and get together well.
It helps an organization to evaluate its competitors and set goals
and strategies to compete with all existing and potential
competitors.
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