Explain What still matters in strategic management lies in the value of planning?
Ans) There is an old saying that if you fail to plan, you are planning to fail. By acting on this, strategic management really gives the organization direction, a sense of uniqueness and unity towards what the business goal. Therein lays the continued significance of strategic management towards business success.
Each business has a vision and a mission. Strategic management takes into consideration both of these. Strategic management helps in achieving the organizational goals in an efficient and effective manner. For more details on significance of management, you can see the "significance of Management" section on