An importance of Strategic Management in Organization

Dr.M. Saraswathi                                              Adivi Sri Lakshmi Sreeya1,Vardinni Reddii2,Bh.Dhatri   3

Assistant Professor                                           UG Students

SCSVMV University, Kanchipuram               SCSVMV University, Kanchipuram

ABSTRACT:

The main goal of strategic management is to identify and describe the various strategies that managers can implement to improve performance and provide their company a competitive edge.It involves assessing external and internal environments, developing business models, corporate direction, competitive tactics, international strategy, acquisitions, and collaborative action. The implementation phase requires leadership to build the appropriate organizational structure, develop management culture, control strategic processes, and steer the organization through ethical corporate governance. The outcomes of strategic activity affect revenues, market shares, profits, and return on investment for stakeholders.

 Keywords :

Organizational structure, management culture, control strategic processes, corporate governance.