Why is it important to integrate both intuition and analysis in strategic management? Give an example.
Why is it important to integrate both intuition and analysis in strategic management? Give example.
Strategic management is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. It is the highest level of managerial activity, usually performed by the company's Chief Executive Officer (CEO) and executive team. It provides overall direction to the whole enterprise and it must be appropriate for its resources, circumstances, and objectives.
For effective strategy management it should integrate both intuition and analysis. In today's
dynamic environment its more important, Strategy management under uncertainty is a challenging and difficult job because we cannot predict the actions. With the passage of time, business operations around the world have become complex because of the dynamic nature of the industries in which the firms operate. The main reason for that is the increase in the level of uncertainty of the factors that ...
The solution provides a discussion and an example of the importance of both intuition and analysis in strategic management.