THE VERY ESSENTIALS OF STRATEGIC MANAGEMENT TOOLS
THE VERY ESSENTIALS OF STRATEGIC MANAGEMENT TOOLS

Summary/Abstract: The focus of strategic management is company performance. As noted by Barney one of the main objectives of corporate strategy is performance improvement. Although research has proven that strategic management has a positive impact on overall company performance, on fortunately many businesses have failed in implementing strategic management tools. Without any doubt, one of the main objectives of businesses worldwide is to achieve and maintain a competitive advantage, therefore one of the main duties of strategic management is to identify means and ways to achieve and maintain competitive advantage. Although, this is the case for businesses in the developed world, the issue whether managers in the Republic of North Macedonia utilize the tools and means provided by strategic management remains unanswered in full. If this is the case than another issue arises. The one of the correlations between strategic management tools and means on one side and competitive advantage on the other. This paper strives to provide a short descriptive analysis of some of the main tools of strategic management, in hope that it will sparkle an interest among managerial structures in the country and region to implement such tools for the greater benefit and better future of their companies.

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