There are open myths regarding strategic managementthat managing strategies and being successful with it is hard because it takes time, resources, planning and distraction from the urgency of running a day-to-day business. However, the actual reality is that there is a confirmed multitude of benefits of having and working a strategy in organisations and businesses. The owners who came to believe in the value of having a strategy and vowed the commitment of time and resources to manage its enforcement have constantly improved their performance. Five reasons why strategy plays a crucial role in any company’s success:-
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