Strategic management benefits consist of financial benefits and non-financial benefits. Discuss any 5 non-financial benefits

Strategic management benefits consist of financial benefits and non-financial benefits. Discuss any 5 non-financial benefits.

i. Decreases risks. Strategic management takes care of corporate governance, internal policies, procedures and controls that reduce organizational exposure to risks.
ii. Improves stability. Managerial strategies strengthen the business by either expanding the opportunities or exploring the existing opportunities.
iii. It makes performance measurable. Strategic management frameworks determine various company metrics such as process of efficiency, reputation, and knowledge acquisition thus providing an avenue to develop and improve the routine operations.
iv. Developing a proactive environment. Strategic management enables entities to anticipate and plan for future in advance. Early reaction to risks helps avoid potential losses or threats in the market.
v. Provides a guide to future activities, process and actions. By laying down a strategic plan, the management together with employees obtains a rough blueprint of what is required of them.

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simpleman Anto answered the question on February 8, 2018 at 11:39

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