Benefits
Defines a company’s vision, mission and future goals.
Identifies the suitable strategies to achieve the goals.
Improves awareness of the external and internal environments, and clearly identifies the competitive advantage.
Increases managers’ commitment to achieving the company’s objectives.
Improves coordination of the activities and more efficient allocation of company’s resources.
Better communication between managers of the different levels and functional areas.
Reduces resistance to change by informing the employees of the changes and the consequences of them.
Strengthens the firm’s performance.
On average, companies using strategic management are more successful than the companies that don’t.
Strategic planning allows the organization to become more proactive than reactive
