Strategic management allows and organization to be more proactive than reactive in shaping its own future; it allows an organization to initiate and influence activities and thus to exert control over its own destiny.Small business owners, chief executive officers,presidents and managers of many for-profit and non-profit organizations have recognized and realized the benefits of strategic management.
Historically, the principle benefit of strategic management has been to help organizations formulate better strategies through the use of the more systematic,logical and rational approach to strategic choice.
Financial Benefits:
1. Improvement in sales.
2. Improvement in profitability.
3. Improvement in productivity.
Non-Financial Benefits:
1. Improved understanding of competitors strategies.
2. Enhanced awareness of threats.
3. Reduced resistance to change.
4. Enhanced problem-prevention capabilities.
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