What is the need and scope of the strategic management for an organisation or industry?
Need and Scope of the Strategic Management The need of strategic management comes into face when entrepreneurs realize the need of expanding their business in Global Market for making more profit. Strategic Management not only explains how a business can do their best in the global market even after there is a tough and close competition. It also explains how to analyze, choose, formulate, implement and control and evaluate business strategies in the organization. Strategic Management figure outs the strengths and weakness of any organization and provides a better strategies to achieve its goals and objective.