Relationship between strat management and technology

Question 1

What is the relationship between strategic management and technology?

Answer 1

dynamic and indispensable, shaping the way orgs operate, compete and evolve in an increasingly digital world.

Question 2

What does strategic management involve?

Answer 2

involves setting long-term goals, making decisions in resource allocation, navigating competitive environments.

Question 3

What does technology act as?

Answer 3

A tool and driver of change, influenceing business from operations to customer engagement.

Question 4

Name and explain a core intersection between strat management and tech? (1)

Answer 4

innovation; to maintain CA, orgs must continuously alter and upgrade strategies to harness emerging technologies, such as AI, DA and automation. Companies may integrate data-driven decision-making, to gain deeper insight to market trend and consumer behaviour, to become more agile.

Question 5

Name and explain a core intersection between strat management and tech? (2)

Answer 5

Strategic planning: advanced software tools allow for real-time tracking to enable planning. They can use planning scenario models, risk assessment and performance tracking. Allows strat mang process to become more efficient and responsive. Digital transformation of strategies where companies adopt new tech, and reimage brand to thrive in digi economy.

Question 6

Limitations of technology

Answer 6

Rapid tech change can outpace strategic cycle planning by changing too quickly for them to keep up. Forces leaders to become more adaptable and forward thinking. Not keeping up can result in missed opps. Can also result org decline.

Question 7

Conclusion?

Answer 7

Relationship between strat mang and tech is syncronised where strat mang can direct use and integration of tech tools. Can redefine strat possibilities. Orgs can align with these to position in better place to innovate and compete. Success in todays global market.