Tehnika (Jan 2023)
Strategic management and business model
Abstract
With the help of numerous quotes from books and textbooks by contemporary authors of indispensable works on strategy and strategic management, I tried to provide the reader with a series of definitions of key terms and point out the importance of the correct sequence of activities in the strategy development phase. Strategic management, although young, is a very large scholarly field (most textbooks focus mainly on strategy development, the first of the three phases of strategic management, and most are more than 900 pages long). The second and third phases, the implementation and evaluation of the strategy, are mostly omitted with the explanation that they depend on the economic branch in which the organization operates. Here is article four, excerpted from my unpublished monograph on business strategy. In the previous three articles, I tried to present, through quotes from renowned authors, the modern understanding of strategy and its role in the organization's efforts to achieve a favorable position on the market and successfully resist the attacks of agile competitors. Many academics believe that a business model is a picture (a picture is worth a thousand words) of a realized strategy and that it is the finale of strategic management, which consists of a series of activities that natural evolution has kept as crucial in the fight for the survival of not only living beings but also of every organization.
