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Discuss three reasons why strategic management is important.

1. ________________
2. ________________
3. ________________



Answer :

GinnyAnswer

Final answer:

Strategic management is crucial for goal setting, adaptation to changes, and enhancing decision-making in organizations.


Explanation:

Strategic management is important for organizations due to several reasons:

  1. Setting and achieving goals: It helps in defining clear objectives and strategies to reach them efficiently.
  2. Adapting to changes: Strategic management enables organizations to respond effectively to external factors like market shifts or technological advancements.
  3. Enhancing decision-making: It provides a structured approach to decision-making, reducing reliance on intuition and improving overall efficiency.

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