Strategic Management is Essential for Organisational Growth: A Case Study of Havells

Garima Choubey, Dr. Ashish Mishra

Abstract: Strategic Management involves the formulation and implementation of the major goals and initiatives taken by a companys top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environment in which the organization competes. Strategic management allows firms to take an objective view of the activities being done by it and do a cost benefit analysis as to whether the firm is profitable. Strategic management allows a firm to orient itself to its market and consumers and ensure that it is actualizing the right strategy. This paper examine How Strategic Management is essential for organisational growth and found the fruitful result after implementing new ideas and strategic policy. The case study of Havells revealed that the genuine application of strategic management enhanced the companys progress.

Keywords: Strategic Management, Internal and external environment, Havells