TYPES OF POSSIBLE STRATEGIES AND STRATEGIC OPTIONS Cover Image

VRSTE STRATEGIJA I MOGUĆE STRATEGIJSKE OPCIJE
TYPES OF POSSIBLE STRATEGIES AND STRATEGIC OPTIONS

Author(s): Adesa Džanković-Jerebičanin
Subject(s): Economy
Published by: Интернационални Универзитет у Новом Пазару
Keywords: strategy formulation; strategic alternatives; opportunities and threats to the environment; competitive advantage

Summary/Abstract: Strategy is defined by the relationship which a company should establish with the environment and the aspirations of a strategist. Formulating a strategy involves determining the mission and long-term objectives, analysis of opportunities and threats to the environment, determine the attractiveness of the industry by analyzing competitive forces, identifying sources of competitive advantage through the analysis of the internal environment (assessment of resources and capabilities of the company) and the determination of feasible alternatives. Future intentions and sources of advantage are the two main elements that determine feasible strategic alternatives. Future intentions can only be determined where benefits can be realized. This must go "hand in hand" so the defined strategy will have a proactive and responsible role. Comparing today's market leaders with those of twenty or even a decade or five years shows how sometimes the big names lost their significance or disappeared from the business scene. All this has the effect of affirming philosophy of management which should allow, on a systematic basis, the company to successfully cope with the dynamic and complex environment. It has become a necessity to look at the changes as an opportunity and not as a threat.

  • Issue Year: 2014
  • Issue No: 06
  • Page Range: 137-153
  • Page Count: 17
  • Language: Bosnian
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