This will be advantageous to him for his future as he will not remain an agent forever. Planning will make his tasks easier and he can have a check on his agendas such as visits, appointments, selling plans and so on. Since people want to look at houses during their off time such as evenings and weekends, the agent should be available at such times. The burden of interest you have to pay if you invested borrowed money might eat into your capital too, if the slump prolongs. The loss incurred by under pricing would have helped in paying off the agent�s commission. Sprucing up the home with some investment may yield you a higher price. Holding even at the time of steep fall of the prices hoping for a come back would be a folly. In this highly competitive business, there are many other agents, for example, fighting for a property to include in their own listings. Consequences like lean incomes, interest on the borrowed monies bother you. This requires good judgment trait on the part of the agent. The biggest and the ever recurring problem is the slump or depression in the market.2. This is a sign of an upward trend in the days to come. You not only get entangled in legal issues but face the threat of loosing the capital either entirely or partly. A slight mistake in prediction or a change in the legislation concerning real estate property or tourism or industry sector has the potential to turn over the whole

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Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It is the process of specifying the organization's objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies and plans to achieve the organization's objectives. Strategic management, therefore, combines the activities of the various functional areas of a business to achieve organizational objectives. It is the highest level of managerial activity, usually formulated by the Board of directors and performed by the organization's Chief Executive Officer (CEO) and executive team. Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies.

“Strategic management is an ongoing process that assesses the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.” (Lamb, 1984:ix)

There are many software products available in the market that process and report organisational data and which aid in strategic management—e.g. SAP, SEM, SAS, etc.

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