STRATEGIC MANAGEMENT

WHAT IS A STRATEGIC MANAGEMENT ?

   According to Jagdish Sheth, Dr. Strategic management: A world-renowned academic in marketing, Dr. Jagdish Sheth keeps strategic management saying "Are we doing the right thing?" Again Dr. Strategic management focuses on the future in the context of variable environmental factors of predictable scale, according to Jagdish Sheth. It requires attention to the big picture and willingness to adapt to changing circumstances.

  Strategic management consists of the implementation and evaluation of the decisions taken to achieve the goals and objectives of the enterprise. Strategic management is a form of management that determines the strategies that will achieve an institution's goals, ensures that these strategies are effectively implemented and their results are evaluated. The aim is to comply with the determined strategies and achieve the determined goals.

  Strategic management is a form of method that starts with strategic thinking and uses the strategic plan as a tool. The first steps of this method, which starts with strategic thinking; goal-outcome, common sense, environment, and skills to develop plans to stay competitive. When you take these steps correctly, your strategic management performance and business efficiency will increase. In addition, when you proceed with this management approach, you will easily notice your strengths and weaknesses in terms of both business and environment. Provides competitive analysis for your business. Your tendency to make the right decision emerges. In fact, strategic management is the most efficient way to continue your entire business.

  Strategic planning; It is the most fundamental factor in determining the business vision - mission, determining the purpose of the business, creating and choosing a strategy, implementing the strategy and evaluating the results obtained. The most important factor in strategic management theories is the resource. They are the factors that the source company can reach and control. At the same time, resources are all elements that contain strengths and weaknesses of the business. At the same time, another factor in strategic management is strategic cost. Businesses should analyze their costs so that they can compete effectively in the market in which they operate. Competitive advantage for businesses is the most important success advantage for the business. In order to gain competitive advantage, businesses should determine the factors of price, quality, time and variety. According to Porter, there are 3 important strategies within the scope of competitive strategies. These; cost, differentiation and focus strategies. When you don't choose between cost and differentiation, you're stuck between the two. At the same time, when you do the swot analysis of your business, you will provide current situation analysis of both internal and external environment.