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Strategic management allows and organization to be more proactive than reactive in shaping its own future; it allows an organization to initiate and influence activities and thus to exert control over its own destiny.Small business owners, chief executive officers,presidents and managers of many for-profit and non-profit organizations have recognized and realized the benefits of strategic management.
Historically, the principle benefit of strategic management has been to help organizations formulate better strategies through the use of the more systematic,logical and rational approach to strategic choice.
Financial Benefits:1.Improvement in sales.2.Improvement in profitability.
3.Improvement in productivity.
Non-Financial Benefits:1.improved understanding of competitors strategies.2.Enhanced awareness of threats.
3.Reduced resistance to change.
4.Enhanced problem-prevention capabilities.
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What is strategic management plan list and explain the steps you strategic management process?
steps process strategic management
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Evolution of business policy and strategic management?
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Advantages and disadvantages of strategic management?
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What is strategic management plan list and explain the steps you strategic management process?
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Objective of Strategic Management?
Main objective of Strategic Management is to increase profitability
Evolution of business policy and strategic management?
evolution of business policy and strategic management?
Advantages and disadvantages of strategic management?
Strategic management has many advantages and disadvantages. One advantage of strategic management is being able to expect whatever comes up.
What is the Prerequisites for successful strategic management?
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