THE IMPACT OF STRATEGIC MANAGEMENT AND STRATEGIC THINKING APPROACHES ON BUSINESS PERFORMANCE OF COMPANIES OPERATING IN THE RETAIL INDUSTRY
THE IMPACT OF STRATEGIC MANAGEMENT AND STRATEGIC THINKING APPROACHES ON BUSINESS PERFORMANCE OF COMPANIES OPERATING IN THE RETAIL INDUSTRY

Summary/Abstract: The research paper investigated the impact of strategic management and thinking on increased business performance of retail industry businesses. It reviewed the case of Tesco Plc in retail industry and evaluated how effectively management of the business can think strategically to interconnect strategic planning of the business with business operations. The research critically identifies the importance of strategic management and thinking in the form of strategic planning to effectively formulate, deploy and plan available business resources and to enhance the business performance of the organization. The current research paper indicated that senior management of businesses in retail industry contribute effectively by aligning business strategy of the organization with its strategic thinking to develop a path of success with effective utilization of available business resources. Strategic management and thinking provides a greater opportunity to the businesses to setup their business goals, arrange desired resources, plan and coordinate business operations to succeed.

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