SOME ASPECTS OF STRATEGIC MANAGEMENT

Vasko Stamevski (), Elizabeta Stamevska () and Aleksandra Stankovska ()
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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

Economics and Management, 2018, vol. 14, issue 2, 129-133

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.

Keywords: strategic management; strategic planning; aspects of strategic management; strategies; companies (search for similar items in EconPapers)
JEL-codes: M11 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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