Strategic management has long been used successfully by large organizations to manage uncertainties and for better positioning to generate long-term growth and profitability. Due to the current and predicted environmental uncertainties, the practice of strategic management will become a need for small and medium-sized enterprises … Read More
The firm’s ability to accurately establish and measure shareholder value (SHV) is crucial for assessing financial performance and moving the firm toward established objectives. Among other strategic objectives, such as profitability, efficiency, market share, and growth, shareholder value is the most important measure to evaluate … Read More
The concept of competitive advantage is embedded in the key components of the strategic management process. Strategic management is about gaining and sustaining a competitive advantage. From environmental scanning to vision statement to strategy formulation (strategic planning) and implementation—all these components have been successfully used … Read More
During an economic boom, when the market demand exceeds the industry capacity, it is easier for firms to grow, remain profitable and create value. There is not much of a need to understand what a competitive advantage is and where and how value is created. … Read More