Changes in the Competitive Strategy of Estonian Public Companies in the next Five Years: Challenges for Top Managers, Academics and Consultants

Mait Raava ()
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Mait Raava: Department of Management, Estonian Business School

No 176, Working Papers from School of Economics and Business Administration, Tallinn University of Technology

Abstract: To create a sustainable competitive advantage, the firm must adapt its strategy in accordance with changes in industry. The purpose of this survey is to reveal how top managers see major changes in strategic management over the next five years. Companies from the Tallinn OMX Market were chosen as a sample of leading companies. Structured interviews were conducted with thirteen top managers. This revealed highly plausible changes in strategic management over the next five years as predicted by top managers of Estonian public companies – these were in the areas of the value chain, corporate structure, planning and control systems, motivation schemes and external opportunities. The major challenges for top managers in the near future are to successfully align the organizational structure with the value chain in accordance with emerging opportunities in foreign markets and define and invest enough in distinctive competencies to achieve sustainable profitable growth. This result is in accordance with the reflections of top mangers that their main priorities in strategic research and development are to facilitate the strategy development process, implement management tools, and research into and share knowledge and experience of doing business in foreign markets. These results suggest specific challenges for academics and consultants for achieving better collaboration in strategic management and development.

Keywords: competitive advantage; strategic management; future challenges; research and development; collaboration (search for similar items in EconPapers)
JEL-codes: M12 L32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse, nep-his, nep-knm and nep-tra
Date: 2008
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Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 103-113

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