The Impact of Strategic Management on Selected Financial and Economic Results of Agricultural Enterprises Operating in the Slovak Republic

Abstract

Strategic management is usually described as a process that begins with a mission statement and tends to the choice and implementation of the most suitable strategy and strategic control. Despite the protracted adverse situation which has afflicted the Slovak agricultural sector, a properly selected strategy may be the impetus behind the more progressive financial and economic results achieved by some agricultural holdings in comparison with their competitors who have experienced difficulties in adjusting to a dynamically evolving external environment. The main outcome of the submitted article is the assertion that agricultural holdings which devoted greater attention to strategic management have performed better in terms of economic results, especially business success based on Earnings before Taxes (EBIT), EBIT per one employee and per one hectare of agricultural land.

Keywords

• strategic management
• management
• implementation
• agriculture
• profitability