Question
In: Operations Management
Please answer the following questions in complete sentences. 1. What is a goal? 2. What is...
Please answer the following questions in complete sentences.
1. What is a goal?
2. What is strategic management? Why is it important to an organization?
Solutions
Expert Solution
A goal is the anticipated result a person or a team works for. People or organizations set different plans to attain their goals. They also set a certain duration to accomplish the goals.
Strategic management: It comprises the stages of formulating the policies and objectives, implementing them analysing the internal and external environments of the organisation.
Strategic management is essential for the success of any business. Proper objective setting is possible only after the analysis of internal and external aspects influencing the company. Efficient strategies are to be formulated to achieve the objectives and by proper implementation of those strategies helps in long-term success of the organisation. Strategic management helps the firm to move in the direction of the pre-set objectives. Because of this aspect, it makes the organisation proactive to the actions of the competitors but not reactive.
keosha answered 4 months agoRelated Solutions
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