Name: Muhammad Zain

Reg no: L1F20MBAM0047

Submitted to: Prof. Shafique Uqaili

Submission date: 28, november,2020

Subject: Business Policy Strategy

Question1.
Explaining why ‘Strategic Management’ is a useful tool in management and then also describe,
how and why, as per your own understanding, ‘Intuition’ can play an effective role, in decision-
making phase of the management process.

Answer.

Strategic management is very important tool in management of any organization because it helps
to synchronize your organization different departments by formulating and implementing
different strategies and then evaluating those strategies through cross functional decisions to
achieve both short term and long-term objectives. It increases the efficiency of management
process by continuously developing new strategic plans according to change in market trends,
carefully observing and testing the organization activities which automatically results in
improved operational efficiency, market share and profitability of organization. Strategic
management plays an important role in large and complex organizations because it can help you
predict incoming threats and weakness to avoid huge loss and gives you advantage over your
competitors.

Intuition can play an effective role in decision making role but it depends upon what type of
decision you are making there are some decisions which are made on available data for that you
will obviously make decision which will move your organization toward its goal and then there
are decisions in which available information or data is very less so you have to depend upon your
intuition or also called gut feeling to make right decision in such condition. To make right
decisions on your intuitions requires a lot of years of experience because a single bad decision
can cause tons of loss to your organization therefore the best decisions is always made after
analyzing given information and then trusting their gut feeling to make decision.