Strategic management in business greatly helps employees in the acceptance of change. Moreover, it involves the managing of the resources of a business to achieve its objectives and goals. Also, it involves the setting of objectives, analyzing the competitive environment, evaluating strategies, and ensuring that the management rolls out strategies across the organization, Additionally, it outlines the development of strategies and focuses on putting the strategies into place. Furthermore, strategic management helps to equip a decision-maker with management tools and directs the activities of the organization along the right path. Effective strategic management can transform the performance of an organization and make fortunes for shareholders. Contrarily, ineffective strategic management can bankrupt companies and ruin the careers of executives.
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THE IMPORTANCE OF STRATEGIC MANAGEMENT IN BUSINESS
Essentially, strategic management in business helps in the accomplishment of long-term objectives and goals. Furthermore, an appropriate strategy helps a business to achieve higher return rates, increase productivity, and ensure effective market leadership. Also, strategic management helps in minimizing the resistance to change. Additionally, a participative process of strategy making eases the acceptance of change as there is a greater awareness of choosing a particular option. Moreover, strategic management provides employees with clear objectives and directions about the future of the business. This enables them to perform better.
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STEPS TO HELP EMPLOYEES IN ACCEPTANCE OF CHANGE
The acceptance of change begins by stating the change. Leaders should be able to clearly articulate what the change is about, why it is important, and what are its positive outcomes. The next step is listening to feedback. Additionally, strategic management in business should listen to its team to know what it needs. Also, getting feedback helps in smooth transitions. It is also important for the management to acknowledge feedback. This helps to determine what actions the business needs to take to meet its objectives and goals.
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