Nature of strategic management
Nature of strategic management can be described in following points:
- strategic management is based on quantitative and qualitative data
- uncertainty about the future and quality of data acquires is relatively high
- selecting management strategy is based on various methods, processes, rules and theories
- there is not one best way to develop a strategy
- management strategy should take into account deductive or empirical methods and techniques
- resources of organization is one of most important strategic issues
- people and knowledge is key success factor of business
- Barney, J. B. (2001). Is the resource-based “view” a useful perspective for strategic management research? Yes. Academy of management review, 26(1), 41-56.
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