Answer to Question #230010 in English for Zizi

Question

Define the concept of strategic change.

Answer 1

Strategic change is the implementing of changes to important characteristics of a business, for instance in response to new market threats or opportunities. Upper management and the Chief Executive Officer in particular bear responsibility for this change.

The planning and implementing of strategic change is an important aspect of the role of manager. Strategic change is basically having a certain strategy and then making changes to it. A strategy is a long-term plan to achieve certain objectives. Strategies are aimed at the future, and should be aimed at lasting change. This is necessary to stay relevant in a highly evolving market.