Importance of strategic management
The importance of strategic management results from its role in ensuring optimal use of resources, achieving competitive advantage and long-term growth of the enterprise. Strategic management is an integral part of business management, and therefore must take into account constraints such as conflicting interests of groups affecting the functioning of the enterprise, financial barriers, resource constraints, lack of information, strategic potential, skills gaps, anticipated changes in the environment, activities competition.
- Jemison, D. B. (1981). The importance of an integrative approach to strategic management research. Academy of Management Review, 6(4), 601-608.
- Hoskisson, R. E., Wan, W. P., Yiu, D., & Hitt, M. A. (1999). Theory and research in strategic management: Swings of a pendulum. Journal of management, 25(3), 417-456.
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