Nowadays several people live the dream of entrepreneurship, but what many of these people do not have in mind is that elaborating good strategic and financial planning is fundamental for the success of the new company.
A good example of this is the result of a survey carried out by Sebrae, which presents the following data: For every 100 companies opened in Brazil, just over 75 survive the first year.
If you don’t want your future company to be part of this negative statistic, check out the article we prepared for you and discover the advantages and benefits of studying Strategic Business Management.
What is Strategic Management
Before we present all the benefits of strategic management, let’s clarify in a practical and concise way what it is.
We call Strategic Management the set of actions for managing the company’s resources, which aims to achieve goals. This form of management exists to manage and conduct a business following structural and organizational strategies. Therefore, you will optimize and make your business management more effective.
How does Strategic Management collaborate with your business?
If we approached it quickly, we would say that Strategic Management helps companies in a simple way, but in an essential way for the success of any business.
By applying this strategy in your organization, it is possible to optimize processes and save resources, especially human resources. In short, Strategic Management helps your business save money.
How to achieve great results with Strategic Management
If you have a business, our question is: how long ago has your company’s annual revenue grown?
If the answer is many years ago, what we have to say is: there is no point in expecting great results if you do not create projects and actions that can turn those expectations into something tangible.
Let’s take a simple example, let’s assume that you have a bakery and that your annual turnover is at 200 thousand. There is no way you can increase this revenue if you do not offer anything new to your customers. An alternative to increase this revenue would be to invest in a gluten-free food project, in this way you would be attracting new types of customers and causing the revenue to increase progressively throughout the year.
This example is a simple way of how good strategic management can change the direction of your business in a totally positive way.
Finally, it is through strategic management that several professionals are made aware of their responsibilities, thus reflecting on increased productivity and, consequently, on business competitiveness.
Another major factor in management is its assistance in the proper use of resources, in reducing expenses and in maximizing the profitability of each action taken by the company.
Therefore, it is clear that it is in strategic management that you must guide your actions to promote the continuous improvement of your business, thus ensuring the survival of your business for a long time.
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