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Externally oriented (strategic) planning.
Phase 4. Strategic Management: Realizing that even the best strategic plans are worthless without the input and commitment of lower-level managers, top management forms planning groups of managers and key employees at many level.
Researcher has revealed that organizations that engage in strategic management generally out perform those that do not.
A survey of nearly 50 corporations in a variety of countries and industries found the three most highly rated benefits of strategic management to be:
*Clearer sense of strategic vision for the firm.
*Sharper focus on what is strategically important...
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