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 Advantages of strategic management

• Direction
• Direction to move ahead,
• define goals and mission
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• define realistic objective

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• Proactive
• Proactive instead of reactive
• take action instead of spectator
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• Control destiny
• Work within vagaries of environment
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• Framework for decisions

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• Decisions on business products

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• Better guidance on crucial points

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• Face the future and act as pathfinder

• Pathfinder for various opportunities
• Ways and means of how to reach opportunities
• Corporate defense mechanism
• Against mistakes and pitfalls
• Avoid costly mistakes in product or market choices
• Longevity
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• Enhance longevity
• Taking clear stand, not just surviving on luck
• Core competencies and competitive advantage
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• Develop core competency and competitive advantage

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• Facilitate survival and growth

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 Disadvantages of strategic management

Cannot counter all hindrances. Limitations are as follows

• Environment is difficult to understand
• Environment affects the organization as organization has to deal
with many environment variables, such as customer, government,
suppliers, et cetera.
• Complex turbulent cannot be exactly pinpointed how it will shape up
in future
• Estimate can go wrong
• Time consuming
• Time consuming process
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• Impede daily operations and routine business.

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• Costly
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• Adds a lot of expenses,

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• experts need to be engaged.

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• Efforts are required for environmental analysis and creating

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strategies and implementing them.

• Costly, particularly for small and medium organisations,
• Difficult to estimate response
• Difficult to clearly estimate estimate competitive response to firm's
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strategy.
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