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The Importance of the Strategic Management Process in the Knowledge-Based Economy
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In the modern economy, competitiveness means information and know-how
rather than capital and physical assets. Therefore, the key process for any competitive
organization is to strategically use their information resources and knowledge assets
by remembering and applying experience. An organization’s ability to compete on the
market is increasingly seen as depending on the skills and knowledge of its managers
and employees, regarded as intelectual capital, and put to good use while formulating,
implementing and adjusting strategies. In the current business environment, knowledge
evolves rapidly and the useful life span of the organizational skills is decreasing, which
means the survival and competitiveness of an organization is linked to its ability to
learn and include its findings in their strategic management process.
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The Importance of the Strategic Management Process in the Knowledge-Based Economy
Strategic Management
English
2009
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