The allocation of the resources can be political
in the industry particularly in the absence of strategic management. The
substitute approach can be considered for the existence of a major decision.
The intuition, subjectivity, and emotions are not sufficient for the allocation
of resources. The decisions are mainly related to the resource allocation that
plays a vital role in the strategic ramification (Smallbusiness. chron. com, 2018).
The strategic management is not quite enough for
the resource allocation but can provide effective resource allocation. The
process of resource allocation can be defined as central management of the
organization and permission for the implementation of the strategy. The
resource allocation can be political and ad hoc in case of absence of strategic
management (Wudhikarn, 2016). The alternative approaches are not
provided for the decision making process of the organization. The
implementation of a strategic approach to resource allocation is based on the
decision making process. The subjectivity and the emotions are not sufficient
approaches for the diversification of the organization (Maritan & Lee, 2017).
The strategic management is required for the
development of organization and allocation of resources. The resource
allocation can be defined as the central management and activity that allows
the execution of strategy. In the organizations, the decision making approaches
are used for the management of resources related to the political and personal
factors in the organization. The strategic management enables the allocation of
resources on the basis of priorities and establishment of annual objectives (Schwindt, 2006).
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