The harder firms practice strategic management, the better they are 1

Elbanna S., Al Katheeri B., Colak M.

STRATEGIC CHANGE-BRIEFINGS IN ENTREPRENEURIAL FINANCE, vol.29, no.5, pp.561-569, 2020 (ESCI) identifier identifier

  • Publication Type: Article / Article
  • Volume: 29 Issue: 5
  • Publication Date: 2020
  • Doi Number: 10.1002/jsc.2365
  • Journal Name: STRATEGIC CHANGE-BRIEFINGS IN ENTREPRENEURIAL FINANCE
  • Journal Indexes: Emerging Sources Citation Index (ESCI), Scopus
  • Page Numbers: pp.561-569
  • Keywords: firm competitiveness, semi-government firms, strategic planning, strategy evaluation and control, strategy formulation, strategy implementation, PLANNING EFFECTIVENESS, MARKETING CAPABILITIES, PERFORMANCE, IMPLEMENTATION, GOVERNMENT, COMPETITIVENESS, DETERMINANTS, ORGANIZATION, SYSTEMS, SLACK
  • Ankara University Affiliated: Yes

Abstract

The integrated practice of strategic management, that is the use of the three components of the strategic management process (formulation, implementation, and evaluation) does matter. Firms should plan intensively and pay attention to choosing strategic planning tools that best fit their needs. No matter how sound the formulated plans are, firms will not benefit if these plans are neither implemented nor evaluated correctly. The harder firms practice strategic management, the better their performance and competitiveness will be.