UMUC BMGT 495 BMGT495 Week 8 Learning Activity 1

UMUC BMGT 495 BMGT495 Week 8 Learning Activity 1



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BMGT 495 Week 8 Learning Activity 1
The ultimate goal of effective strategic management is to achieve and maintain a competitive advantage. According to Professor Stanley Abraham, “strategic management is nothing less than steering and managing a company to be successful over time – not just for the next quarter or year, but for the long term.” (2012, Sec. 1.1, p.2)

Over the past 7 weeks, we have spent time in understanding the fundamentals of strategic management: formulation, implementation and evaluation. Although not a guarantee for success, strategic management allows organizations to make effective long-term decisions, to execute those decisions efficiently, and to take corrective actions as needed to ensure success. (David, 2005, p.328)

As you think over the learnings of the past 7 weeks and goal of achieving and maintaining a competitive advantage, you must also think about effective decision making, which is critical to an organization’s success.

In your opinion, what is the single major benefit of using a strategic management approach to decision making?

There is really no right or wrong answer, however, please support and justify your answer by using APA formatted scholarly references and in-text citations.

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