Benefit of management Essay
A business without strategy Is a business without direction. A strategy without a competitive advantage Is a business without a precondition of success. Managing strategically Is to make decisions and Implement strategies that allow an organization to develop and maintain competitive advantage. Competitive advantage Is a concept that motivates strategists to replicate the strategies that make most successful companies successful. The most significant benefits are: Discharges Board Responsibility
The first reason that most organizations state for having a strategic management process is that it discharges the responsibility of the Board of Directors. Forces an Objective Assessment Strategic management provides a discipline that enables the board and senior management to actually take a step back from the day-to-day business to think about the future of the organization. Without this discipline, the organization can become solely consumed with working through the next Issue or problem without consideration of the larger picture.
Provides a Framework for Decision-Making Strategy provides a framework within which all staff can make day-to-day operational decisions and understand that those decisions are all moving the organization in a single direction. It is not possible for the board to know all the decisions the executive director will have to make, nor is
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Supports understanding & Buy-Len Allowing the board and staff participation In the strategic discussion enables them to better understand the direction, why that direction was chosen, and the associated benefits. Enables Measurement of Progress A strategic management process forces an organization to set objectives and measures of success. The setting of measures of success requires that the organization first determine what is critical to its ongoing success.