Returning to profitability through strategic management : company case study.
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Over half of the respondents indicated that they had benefited from the introduction of strategic management at Saybrook. The benefits of strategic management at Saybrook were mainly increased sales and the saving of Saybrook from liquidation. According to the respondents the objectives of changing the way a company is run should be mainly to promote profitability and viability in the business, to improve quality, initiate growth for machines and human resources, the creation of value for stakeholders and improvement of processes. There was positive overall impact on relations between Saybrook and stakeholders as a result of the adoption and implementation of strategic management with the main areas of gain being increased profitability and better quality products. In nutshell the benefits that accrued to Saybrook due to the introduction of strategic management were increased profit, increased efficiency, better customer focus and higher quality products. Saybrook is better performer now than before the introduction of strategic management, increasing productivity and creating a conducive environment for the development of solutions to business problems were also cited as main strength of strategic management. Respondents were of the opinion that strategic management should focus on both management should focus on both management and employees since success of technique depend on teamwork.