LIST 10 MAJOR BENEFITS OF STRATEGIC MANAGEMENT, AS STATED BY GREE...

125) List 10 major benefits of strategic management, as stated by Greenley.Answer: There are 14 benefits stated by Greenley. Students are to list any 10 of the following: 1)it allows for identification, prioritization and exploitation of opportunities; 2) it provides an objective view of management problems; 3) it represents a framework for improved coordinationand control of activities; 4) it minimizes the effects of adverse conditions and changes; 5) it allows major decisions to better support established objectives; 6) it allows more effective allocation of time and resources to identified opportunities; 7) it allows fewer resources and less time to be devoted to correcting erroneous or ad hoc decisions; 8) it creates a framework for internal communication among personnel; 9) it helps integrate the behavior of individuals into a total effort; 10) it provides a basis for clarifying individual responsibilities; 11) it encourages forward thinking; 12) it provides a cooperative, integrated and enthusiastic approach to tackling problems and opportunities; 13) it encourages a favorable attitude toward change; and 14) it gives a degree of discipline and formality to the management of a business.Diff: 2 Page Ref: 16Objective: 1.05 Describe the benefits of good strategic management.Learning Outcome: Define strategic management and identify its basic concepts