The Cycles of Developing Strategic Management Fundamentals
The Cycles of Developing Strategic Management Fundamentals

Summary/Abstract: The article studies the issues of the necessity to use the fundamentals of the strategic management theory when implementing the strategic management decisions in any particular company. Such problems are highly relevant in Lithuanian economy, when the transfer to the market economy has already finished, the privatization is in its last stage while the ideas of entrepreneurship are booming. When the economy is progressing, the risk arises that the company’s strategy would be based only on the intuition and personal experience of its manager. Consequently, the demand for the successful strategic management professionals who have high theoretical background eventually increases. The methodology of this research is based on the complex analysis of the development of strategic management practice, which includes the analysis of case studies, comprehensive literature review and the methods of logics. By analyzing the development of the strategic management practice, we have tried to show the development of the strategic management as the endless cycle, while also distinguishing the formation of the strategic management theory, its relationship to the practice. Such method of analysis has helped to relate the goals of the strategic management practice of the companies to the changing volatile environment in Lithuania.

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