You know your strengths and weaknesses : Through a SWOT analysis you will be able to know your strengths, weaknesses, opportunities and threats. Improvements in planning : Strategic management benefits the organization to build economic planning. Resource Formulation: Organizing the right resources is only possible when management has a systematic plan for what, where, and how the resources should be us. Stimulate in the evaluation : To ensure that the strategies and plans of the organization are effective and efficient, the Strategic Direction becomes a decisive aspect. Facilitates communication : In order to meet the objectives, the Strategic Management nest to have adequate communication and governance at all stages of operations.
Support to face the competition
Strategic management helps the organization to face the competition in a more productive way. Tools for strategic management Strategic British Indian Ocean Territory Business Email List management tools have chang over time, but we can talk about 2 most popular models: 1.- SWOT or SWOT analysis SWOT analysis is a type of strategic management framework us by organizations to develop and test their business strategies. A SWOT analysis identifies and compares an organization’s strengths and weaknesses with the external opportunities and threats in its environment. SWOT analysis clarifies the internal, external, and other factors that can influence an organization’s goals and objectives.
The process helps managers
Determine whether the organization’s resources and capabilities will be effective in the competitive environment in which it must operate and refine the strategies DP Leads necessary to continue to succe in that environment. 2.- Comprehensive scorecard A balanc scorecard is a management system that transforms strategic objectives into a set of performance goals that are measur, monitor, and modifi, if necessary, to ensure achievement of strategic objectives. The scorecard is us to evaluate the performance of an organization. It incorporates traditional financial analysis, which includes measures such as operating profit, sales growth , and return on investment. It also includes customer analysis , including their satisfaction and retention.