Final answer:
Strategic management offers the benefits of easier capital raising, attraction of top talent, and increased productivity and efficiency within the organization.
Step-by-step explanation:
The three most highly rated benefits of strategic management are:
- Attracting Financial Capital: Strategic management can make it easier to raise financial capital as it demonstrates a clear future vision and plan to potential investors, rendering an organization more appealing for financial backing.
- Attracting Top Talent: By being slightly larger in size and having a structured approach, organizations with strategic management practices in place tend to attract top talent to their workforce, as professionals are usually seeking stable and well-organized employers.
- Increased Productivity and Efficiency: Since employees directly benefit from the success of the business, strategic management often results in increased productivity and efficiency. With clear goals and structured processes, employees are more motivated and can contribute more effectively to the organization's success.