Strategic Management In The Modern Dynamic Environment
Prepare a 5-6 slide presentation that explains why strategic management has become crucial in today’s dynamic environment. Trace the evolution of strategic management and give rationale for health care organizations’ adoption of strategic management. Requires a minimum of two peer reviewed references in addition to the textbook.
Strategic management is the procedural approach through which different organizations set their goals and objectives and plan on how to achieve them within a specified time horizon. As such, it creates a sharp focus for all the stakeholders in the organizations to work towards the achievement of the predetermined goals and objectives. Therefore, the success of any organization in the modern world is highly dependent on strategic management Arbab Kash eta al., 2014). Moreover, strategic management in the modern world provides an elaborate way to measure the performance of individuals as well as the entire organizations. It is also critical to note that the operating environment for health organizations is continuously evolving due to the constant changes in consumer needs, tastes, and preferences (Pond, 2006). As such, the organizations adopt strategic management to become and remain competitive, failure upon which they would become irrelevant in the market since their services will be obsolete…………