With the help of strategic management, developed countries are uniting with the less developed nations across the globe to integrate or fuse technology towards modernization and advancements.
Since technology requires strategized plans, globalization is making it possible for strategy managers to introduce technology in different and, subsequently, remote corners of the globe and making sure people use it accordingly.
Whereas revolution of events over the past few years has a clear picture showing the impacts of global strategic management that includes the collapse of communism, the evolution of information, and Europe unification, the challenge of reaching the goals of complete realization of goals of global strategic management remains.
Challenges remain due to slow adaptation of some business in different societies.
The need to have a great mode of information technology across the globe is the driving force behind dissemination of technology that has brought the current global transition (Hitt, 2010).
The world owes theses concerted efforts to managers who came with this great idea of diversifying business through information and technology.Globalization is acting as a foundation for construction of companies around the globe because of technology that is turning the world to a coherent business community (Ramamurti & Hashai, 2011).Therefore, globalization of technology is resulting in an enormous need for strategic management.Organizational culture can determine the success and failure of a business and is a key component that strategic leaders consider when developing a dynamic organization.Culture is a major factor in the way people in an organization outline objectives, execute tasks and organize resources.By determining a strategy, organizations can make logical decisions and develop new goals quickly to keep pace with the changing business environment.Strategic management can also help an organization gain competitive advantage and improve market share.Strategic management typically involves: Strategic management necessitates a commitment to strategic planning, which represents an organization's ability to set both short- and long-term goals, then determining the decisions and actions that need to be taken to reach those goals.The strategic management process is a management technique used to plan for the future: Organizations create a vision by developing long-term strategies.A strong business culture will make it easier for leaders to motivate their staff to execute their tasks in alignment with the outlined strategies.Therefore, it is important to create strategies that are suitable to the organization's culture.