Importance of Strategic Management Essay

1.Functions Of Strategic Management defines the strategies of the governing body. The strategy definition is when the scheme decides what its objectives are and goes a step further in achieving its goals. The flush managers are the ace who define the organization strategy, but the company workers put the effort to fulfill the goals. 2.The other Functions Of Strategic Management is to develop or form the strategical plans of the firm. The strategic plans are attached to the discussion sections of the organization and may be a certain thing the department may want to achieve for the upbeat of the entire organization. For example a sale department may find plans to increase the sale with a certain percentage. To achieve the plan, the sales department may consider promoting the company products or developing a in the altogether product.3.One of the major Functions Of Strategic Management is to instil change in the organization or what is called the strategic implementation. Strategic implementation in an organization is set about with many challenges much(prenominal) as workers refusing to have changes in the organization. At such time, it is difficult for an organization to achieve its goals. However, Functions Of Strategic Management help to watch over up with a strategy addressing the influential people such that they forget be able to motivate other employees into accepting the change. 4.The last main(prenominal) Functions Of Strategic Management is to check or to monitor the success of the strategies already put. Monitoring involves checking if the strategies are performing in accordance to the expectation of the top manager. If the set strategies are not performing as expected, then the problems bear upon the success force out be addressed and necessary measures put to operate the strategy on track.1.Strategic focusing takes into account the afterlife and anticipates for it. 2.A strategy is do on rational and logical manner, thus its efficiency and its success are ensured. 3.Strategic management reduces frustration because it has been planned in such a focus that it follows a procedure. 4.It brings growth in the organization because it seeks opportunities. 5.With strategic management organizations evoke avoid helter & skelter and they can work directionally. 6.Strategic management also adds to the reputation of the organization because of consistency that results from organizations success.7.Often companies draw to a close because of lack of proper strategy to run it. With strategic management companies can foresee the events in future and thats why they can remain stable in the market. 8.Strategic management looks at the threats present in the external environment and thus companies can either work to get rid of them or else neutralizes the threats in such a way that they become an opportunity for their success. 9.Strategic management focuses on proactive approach which enables organization to grasp every opp ortunity that is available in the market.