Final answer:
The claim that strategic management is becoming less important due to increased globalization is false. Globalization and technology advances heighten competition, making strategic management vital for companies to achieve a competitive advantage.
Step-by-step explanation:
The statement that as more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage is false. The forces of globalization and advancements in communications and information technology have increased competition by allowing firms to enter into new markets and vie with competitors from different regions and countries. While this trend continues to transform the business landscape, strategic management becomes even more essential for companies to navigate the complexities of the global market.
One key aspect contributing to the importance of strategic management is the shift from manufacturing to service industries, which requires innovative business strategies to remain competitive. Moreover, the global workplace has evolved, making previously unthinkable outsourcing and offshoring options common, which reduces costs but also impacts domestic job markets and requires strategic adjustments.
Therefore, in light of increased global competition, companies must continually refine and adapt their strategic management practices to identify and leverage new opportunities, differentiate themselves from competitors, and ensure long-term survival and success.