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Organizational culture can determine the success and failure of a business and is a key component that strategic leaders consider when developing a dynamic organization.Culture is a major factor in the way people in an organization outline objectives, execute tasks and organize resources.
With the help of strategic management, developed countries are uniting with the less developed nations across the globe to integrate or fuse technology towards modernization and advancements.
Since technology requires strategized plans, globalization is making it possible for strategy managers to introduce technology in different and, subsequently, remote corners of the globe and making sure people use it accordingly.
By determining a strategy, organizations can make logical decisions and develop new goals quickly to keep pace with the changing business environment.
Strategic management can also help an organization gain competitive advantage and improve market share.
Through globalization, strategic managers are now able to ...
Cultural Impact of Globalization The phenomenon of globalization began in the ancient days with colonization as countries sought to conquer the less developed countries.
However, as globalization of businesses stretches to different corners of the world, many companies with great strategic management are living witnesses of the many benefits globalization can bring.
Due to strategic management, globalized countries have been able to encounter and integrate business in a different culture with different local problems as well values that erupt in a different part of the world (Ramamurti & Hashai, 2011).
The strategic management process helps company leaders assess their company's present situation, chalk out strategies, deploy them and analyze the effectiveness of the implemented strategies.
The strategic management process involves analyzing cross-functional business decisions prior to implementing them.