Discuss five of the ten major benefits of strategic management, as stated by Greenley. Which of these benefits do you see being beneficial in your future place of employment? Explain why
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According to Vuzs.net, Greenley has stated 14 benefits of strategic management but the 10 major ones are as follows:
(1) it allows for identification, prioritization, and exploitation of opportunities.
Strategic management is more proactive than reactive. Companies initiate instead of just responding to activities. They identify possible opportunities that can benefit the organization, work on it and be the first in the industry. They don't just sit and react to situations, they identify to determine possible improvements.
(2) It provides an objective view of management problems.
Company and management problems are treated as they are; discussed and resolved objectively and as separate entity from the people around.
(3) It represents a framework for improved coordination and control of activities.
With strategic management, people get involved planning activities. They coordinate with each other and cooperate in every endeavour that they experience. They know what are expected of them so there is a ...
This solution of 593 words discusses the 10 major benefits of strategic management by Greenley with examples. References used are included.