In your opinion, what is the single major benefit of using a strategic management approach to...

Question:

In your opinion, what is the single major benefit of using a strategic management approach to decision making?

Strategic Vs. Tactical Vs. Operational:

Strategic, tactical, and operational planning work together to grow a business into a profitable organization. A strategic plan focuses on the entire organization, at a high level, by focusing on the mission statement and how the organization can excel to fulfill the mission statement. Strategic planning is generally carried out by the highest level of management.Tactical planning is short range (one year or less) planning for various functional departments within an organization to meet the goals of the mission statement. Put another way, while tactical decision making tends to be focused on short-term goals through project management, strategic decision making tends to be focused on long-term profitability through forward looking planning. Operational planning links strategic and tactical goals by creating milestones and critical success factors for each goal. Operational planning is generally carried out by the lowest level of management.

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In my opinion, the single major benefit of using a strategic management approach to decision making is that it aligns the business with its customers...

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Types of Planning: Strategic, Tactical, Operational & Contingency Planning

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Chapter 5 / Lesson 2
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Businesses use different types of plans to achieve organizational goals. Discover the differences between the four types of planning, and the advantages of using them.


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