Final answer:
Strategic management is crucial for goal setting, adaptation to changes, and enhancing decision-making in organizations.
Explanation:
Strategic management is important for organizations due to several reasons:
- Setting and achieving goals: It helps in defining clear objectives and strategies to reach them efficiently.
- Adapting to changes: Strategic management enables organizations to respond effectively to external factors like market shifts or technological advancements.
- Enhancing decision-making: It provides a structured approach to decision-making, reducing reliance on intuition and improving overall efficiency.
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