Strategic management helps organizations achieve their long-term goals. It involves analyzing external and internal factors that could impact the business, setting objectives and strategies to take advantage of opportunities and manage threats, and allocating resources effectively to implement strategies. When done properly, strategic management provides direction for an organization and increases its chances of success.
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Benefits of Strategic Management
Strategic management helps organizations achieve their long-term goals. It involves analyzing external and internal factors that could impact the business, setting objectives and strategies to take advantage of opportunities and manage threats, and allocating resources effectively to implement strategies. When done properly, strategic management provides direction for an organization and increases its chances of success.