Special Report on
Strategic Management Process
Strategic Management Process - Trends
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This article provides a review of important trends in the strategic management approach to studying family firms: convergence in definitions, accumulating evidence that family involvement may affect performance, and the emergence of agency theory and the resource-based view of the firm as the leading theoretical perspectives. We conclude by discussing directions for future research and other promising approaches to inform the inquiry concerning family business. Introduction The economic landscape of most nations remains dominated by family firms (Astrachan & Shanker, 2003; Morck & Yeung, 2004). Therefore, it is fitting ...
Strategic management is a process. In which, efforts are made to achieve long term objectives, at lower expenses, by preparing a certain strategy, through analysis and evaluation of effecting factors. Until, objectives, decided by the management are achieved; management is evaluating effecting factors constantly, and accordingly making changes in strategy and continuing its implementation. In this manner targets of the company are achieved, through a strategic management process. 2. Components of Strategic Management Process: The same can be noted as under. (1) Sequence of Functions: A ... Read More
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