Strategic management of enterprises, condition for economic development
Session
Management, Business and Economics
Description
Today, the term "Thinking Strategically" is used, which means that people in the organization need to take care of how to think, evaluate, and create the future of the organization. Thinking strategically means much more than responding to problems that can be long-term or short-term in relation to the organization's future Thinking strategically is to focus on the fact of creating a better climate for the future, being proactive and contributing to increasing value in society by generating more revenue. So strategic management is a dominant element in the success of a single enterprise. One of the ways and basics for business progress is the development of a business plan for the activities of the enterprise. The last decades of major political changes, social, technological, increasing the role of the state as a buyer, seller, regulatory and competitive entities in the free market, as well as the internationalization of businesses, have created an environment in which complex businesses operate. For this reason, it is necessary to make decisions about the strategic management of the enterprise Strategic management is a process that aims to make decisions about a better future for enterprises and enforcing decisions already taken. Namely, strategic management is the process of determining vision and business goals, developing policies and plans, most often in terms of projects and programs designed to achieve goals and then allocating resources to implement policies, plans, programs and projects. This means that the strategic management process should consider the company's mission, external and internal environmental analysis, long-term design, strategic analysis and selection and strategy implementation. So strategic management is a combination of three main processes, which are: 1. Building a strategy that involves conducting an analysis of the state of self-esteem of the company and analysis of internal and external competitors by conducting an environmental analysis from a close and broad business. 2. Implement a strategy that includes the distribution and management of sufficient resources (financial, staff, operational support, time, technology support) and assign responsibility for the tasks and processes of particular individuals or particular groups. 3. Evaluating a strategy that involves measuring the effectiveness of an organization's strategy, which is very important to conclude in SWOT analysis, which reveals the strengths, weaknesses, opportunities, and internal and external threats of the company. Strategic planning involves formulating and evaluating strategic alternatives, selecting a strategy, and drafting detailed plans and controls for implementing the strategy and achieving goals. Research shows that companies are successful when good strategic management balances long-term engagements with short-term activities to improve the organization's activities.
Keywords:
Strategic management, economic development, organization's activities
Session Chair
Besnik Skenderi
Session Co-Chair
Mirjeta Domniku
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-437-69-1
Location
Pristina, Kosovo
Start Date
27-10-2018 3:15 PM
End Date
27-10-2018 4:45 PM
DOI
10.33107/ubt-ic.2018.311
Recommended Citation
Aliu, Farie, "Strategic management of enterprises, condition for economic development" (2018). UBT International Conference. 311.
https://knowledgecenter.ubt-uni.net/conference/2018/all-events/311
Strategic management of enterprises, condition for economic development
Pristina, Kosovo
Today, the term "Thinking Strategically" is used, which means that people in the organization need to take care of how to think, evaluate, and create the future of the organization. Thinking strategically means much more than responding to problems that can be long-term or short-term in relation to the organization's future Thinking strategically is to focus on the fact of creating a better climate for the future, being proactive and contributing to increasing value in society by generating more revenue. So strategic management is a dominant element in the success of a single enterprise. One of the ways and basics for business progress is the development of a business plan for the activities of the enterprise. The last decades of major political changes, social, technological, increasing the role of the state as a buyer, seller, regulatory and competitive entities in the free market, as well as the internationalization of businesses, have created an environment in which complex businesses operate. For this reason, it is necessary to make decisions about the strategic management of the enterprise Strategic management is a process that aims to make decisions about a better future for enterprises and enforcing decisions already taken. Namely, strategic management is the process of determining vision and business goals, developing policies and plans, most often in terms of projects and programs designed to achieve goals and then allocating resources to implement policies, plans, programs and projects. This means that the strategic management process should consider the company's mission, external and internal environmental analysis, long-term design, strategic analysis and selection and strategy implementation. So strategic management is a combination of three main processes, which are: 1. Building a strategy that involves conducting an analysis of the state of self-esteem of the company and analysis of internal and external competitors by conducting an environmental analysis from a close and broad business. 2. Implement a strategy that includes the distribution and management of sufficient resources (financial, staff, operational support, time, technology support) and assign responsibility for the tasks and processes of particular individuals or particular groups. 3. Evaluating a strategy that involves measuring the effectiveness of an organization's strategy, which is very important to conclude in SWOT analysis, which reveals the strengths, weaknesses, opportunities, and internal and external threats of the company. Strategic planning involves formulating and evaluating strategic alternatives, selecting a strategy, and drafting detailed plans and controls for implementing the strategy and achieving goals. Research shows that companies are successful when good strategic management balances long-term engagements with short-term activities to improve the organization's activities.