what is strategic management ? why does it matter?
Expert Answer
Strategic management involves setting company’s short and long-term goals and objectives and designing strategies to achieve the goals. It involves two processes – first is identifying goals and designing strategies and second is implementing the strategies and evaluating the results.
Below is why strategic management is important for an organization –
1. It provides clear direction to the employees through the strategic objectives
2. The management and employees of the organization will be in sync to achieve the firm level objectives
3. The projects and activities can be designed, planned and scheduled
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