why is strategic management important 
helping their company find ways to be more competitive is the purpose of strategic management to that end putting strategic management plans into practice is the most important aspect of the planning itself plans in practice involve identifying benchmarks realigning resources financial and human and putting leadership resources in place to oversee the creation sale and deployment of products and services in business strategic management is important because it allows a company to analyze areas for operational improvement in many cases they can follow either an analytical process which identifies potential threats and opportunities or simply follow general guidelines given the structure of the organization a company may choose to follow either a prescriptive or descriptive approach to strategic management under a prescriptive model strategies are outlined for development and execution by contrast a descriptive approach describes how a company can develop these strategies 