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Importance of Strategic Management in Organizations

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Importance of Strategic Management in Organizations

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Questions and Answers

What is one of the main reasons why strategic management is important?

To help achieve better organizational performance (correct)

To decrease organizational goals

To limit the types and sizes of organizations

To increase the number of employees

How does strategic management help organizations with changing situations?

By only focusing on past actions

By avoiding all changes

By ignoring relevant factors

By providing tools to cope with changing situations (correct)

Which organization uses strategic management to coordinate and focus employees' efforts effectively?

A neighborhood charity organization

A small independent bookstore

A local coffee shop

A multinational retailer like Walmart (correct)

What type of organizations can benefit from strategic management apart from business organizations?

Government agencies and social organizations Signup and view all the answers

Why have university administrators assessed their colleges' aspirations according to the text?

To identify a market niche for survival and prosperity Signup and view all the answers

How has competition in the educational sector impacted university administrators according to the text?

It has compelled them to evaluate their colleges' aspirations Signup and view all the answers

What is a key benefit of strategic management for organizations?

It helps in achieving organizational goals by coordinating different parts of the organization. Signup and view all the answers

How does strategic planning relate to an organization's performance?

There is a generally positive relationship between strategic planning and performance. Signup and view all the answers

Why is strategic management necessary for organizations facing changing situations?

To help in planning future actions based on relevant factors. Signup and view all the answers

How does Walmart utilize strategic management for its vast workforce?

By coordinating and focusing employees' efforts on important objectives. Signup and view all the answers

Which type of organizations can benefit from implementing strategic management?

Government agencies, hospitals, educational institutions, and social agencies. Signup and view all the answers

Why have many university administrators assessed their colleges' aspirations according to the text?

To identify a market niche for survival and prosperity amidst challenges like budget cuts and competition. Signup and view all the answers