Strategic Management: Need of Strategic Management - MBAnetbook.co.in

Wednesday, June 4, 2014

Strategic Management: Need of Strategic Management

Need and Importance of Strategic Management

Why do we need strategic management and why it is important? Strategic management has significance due to the following reasons:

Due to rapidly changing business environment: In a rapidly changing business environment strategy formulation should therefore be considered as a continuous process of learning.


Establishes guidelines: Strategic management Establishes Guidelines to provide assistance and support for the development and Provide a base from which progress can be measured.


Systematize decision: Strategic management helps in systematizing an organization's strategic decisions and actions.


Research and development: The strategic-management process facilitates cross-functional approach for managing the R&D function to ensure that R&D decisions and plans must be integrated and coordinated across departments.


Resource Allocation: Strategic Management promotes effective resource allocation among the business units.


Develops communication and co-ordination


Helps managers to take a holistic approach


5 comments:

  1. Great Info...fairly useful things! At least someone in existence is attempting to deliver beneficial info.

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  2. it is very helpful to me. Thanks

    ReplyDelete
  3. it is very good strategic management notes and easy notes.thank you.

    ReplyDelete
  4. it is very good strategic management notes and easy notes.

    ReplyDelete