(a) Importance of strategic management?

It is important because it sets out a set of actions that managers take to outperform the company`s competitors and achieve superior profits. The objective of a well-crafted strategy is not merely temporary competitive success and profits in the short run, but rather the sort of lasting success that can support growth and secure the company`s future over the long term. The importance of strategy is to know; how to position the company in the market place, how to attract new customers, how to compete against rivals, how to achieve the company`s performance targets, how to capitalize on opportunities to grow the business and how to respond to changing economic and market conditions.

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it is important because it is drive you business to reach organization goal and that will happened by good planning ,continous developing deep undurstand for market enviroment to get maximum opportunities and keep your bussines away from threats .strategic mangment give you main guidelines for the objectives for the organization