Benefits of strategic management
Strategy: The word strategy replaces the traditional word "long-term planning" which denotes a specific pattern of decisions and functions to support the organization and attain desirable outcomes.Strategy helps to make best utilization of resources. Strategic management: Strategic management is one of the inseparable elements of global businesses. If an organization needs to function internationally, strategic management at all levels of business is highly important. Strategic management brings competitive advantage, preparedness in organization for all kind of anticipated as well as unforeseen challenges. Benefits of strategic management: Enhancement of operational efficiency: strategic management helps to forecast the issues and challenges thereby making the management prepared for the transitions required. This helps to increase the operational performance and creates an ongoing chain of accomplishments as per the organizational values and aspirations. Brings susta