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Some Aspects Of Strategic Management

Author

Listed:
  • VASKO STAMEVSKI

    (International Slavic University Gavrilo Romanovic Derzavin, Sv.Nikole-Bitola)

  • ELIZABETA STAMEVSKA

    (European University - Republic of Macedonia, Skopje, Faculty of Economics)

  • ALEKSANDRA STANKOVSKA

    (European University - Republic of Macedonia, Skopje, Faculty of Economics)

Abstract

Strategic Management is a planning process of developing strategy in the direction of achieving strategic-fit between the organization's competence & resources and the global environment under which it tends to operate. It is an ongoing management planning process, aimed at developing strategies to allow an organization to expand abroad and compete internationally. An organization must be able to determine what products or services, where and how they intend to sell… Concurrent with this assessment, objectives are set. These objectives should be parallel to a time-line; some are in the short-term and others on the long-term. This involves crafting vision statements (long term view of a possible future), mission statements (the role that the organization gives itself in society), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives.

Suggested Citation

  • Vasko Stamevski & Elizabeta Stamevska & Aleksandra Stankovska, 2018. "Some Aspects Of Strategic Management," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 14(2), pages 129-133.
    • Handle: RePEc:neo:journl:v:14:y:2018:i:2:p:129-133
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    References listed on IDEAS

    as
    1. Rajiv Nag & Donald C. Hambrick & Ming‐Jer Chen, 2007. "What is strategic management, really? Inductive derivation of a consensus definition of the field," Strategic Management Journal, Wiley Blackwell, vol. 28(9), pages 935-955, September.
    2. Ghemawat, Pankaj, 2002. "Competition and Business Strategy in Historical Perspective," Business History Review, Cambridge University Press, vol. 76(1), pages 37-74, April.
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    Cited by:

    1. Katamadze Davit & Abuselidze George & Katamadze Guliko & Slobodianyk Anna, 2019. "Bank Marketing Problems And Some Aspects Of Their Management," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 16(2), pages 120-130.

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    More about this item

    Keywords

    strategic management; strategic planning; aspects of strategic management; strategies; companies;
    All these keywords.

    JEL classification:

    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

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