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Therefore, strategy management is a management’s game plan for
? Running the business
? Strengthening firm’s competitive position
? Satisfying customers
? Achieving performance targets
Generic Importance of Strategy and Strategy Management
“A well-formulated strategy helps to marshal and allocate an organization's resources into a unique and viable posture based on its relative internal competencies and shortcomings, anticipated changes in the environment, and contingent moves by intelligent opponents.” (James Brian Quinn3). All types of businesses require some sort of strategy in order to be successful; otherwise their efforts and resources will be spent haphazardly and likely wasted...
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