Importance of strategic management

 

Importance of strategic management
Strategic management is important due to following reasons:
  1. Participative management :Strategic management involves interaction at all levels of organization.It promotes participant management .It empowers employees.
  2. Problem prevention :Strategic management enhances problem prevention capabilities of the organization.Problems anticipated and addressed during strategy formulation stage.This facilities problem presentation during strategy implementation.
  3. Better options :Group interaction generated better strategic options at alternatives for strategic choice.
  4. Motivation :Employees are motivation by performances reward relationship .This improves productivity and goal directed behaviour.
  5. Reduced gaps and overlaps :Strategic management takes an integrated approach to resources allocation.This reduces gapes and overlaps in activities.Rules and responsibilities are clearly specified.Strategic fit facilitates effective resources utilization.
  6. Change management :Strategic management reduces Resistance to change.The participative approach promotes participation and communication .Uncertainly is reduced.Strategic change is facilitated.
  7. Financial benefit :Strategic management leads to higher profitability.

تعليقات

المشاركات الشائعة من هذه المدونة

Objective of strategic planing

Characteristics of strategic management