Practice of strategic management reduces the risk of operation by helping the enterprise to innovate in time and take an early action.įurther, strategic management being objective oriented can provide all the employees with clear ideas about what to do, when to do, where to do and how to do.
Strategic management helps a decision-maker to get equipped with management tools or anticipating changes and directing the organizational activities along the right path. Why is Strategic Management Important: For Firms, International Business and Managers Importance of Strategic Management – Why is Strategic Management Important for Firms? Operating Successfully in Dynamic Environment 16. Important Way to Keep Track of International Developments 15.
