IMPORTANCE & BENEFITS OF STRATEGIC MANAGEMENT
- Allows identification, prioritization and exploration of opportunities.
- Provides an objective view of management problems.
- Represents framework for improved co-ordination and control
- Minimizes the effects of adverse conditions and changes
- Allows major decisions to better support established objectives
- Allows more effective allocation of time and resources
- Allows fewer resources and lesser time devoted to correcting ad hoc decisions
- Creates framework for internal communication
- Helps to integrate the individual behaviors
- Provides basis for the clarification of responsibilities
- Encourages forward thinking
- Encourages favorable attitude towards change.
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