FUNKCIJA STRATEŠKOG MENADŽEMENTA U MALIM I SREDNJIM PREDUZEĆIMA
FUNCTION OF STRATEGIC MANAGEMENT IN SMALL AND MEDIUM-SIZED ENTERPRISES

Author(s): Edis Bajić, Besim Duraković, Adnan Kamerić, Dragan Mišetić
Subject(s): Business Economy / Management, Accounting - Business Administration
Published by: CENTAR MODERNIH ZNANJA
Keywords: strategic management; planning; plan; small and medium enterprises;
Summary/Abstract: Strategic management is of key importance for the success and sustainability of small and medium-sized enterprises (SMEs) in today's extremely dynamic and competitive business environment. In this paper, we will explore the importance of strategic management in SMEs, its key components and steps, and how to properly apply strategic management in order for SMEs to achieve competitive advantages and long-term success. We will also look at the process of strategic planning itself, and the relationship between strategic and operational plans. Adequate knowledge and relevant application of strategic management tools contribute significantly to market success, and therefore we place special emphasis in our work on the development of managerial competencies in this area.

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