REGIONAI IR JŲ STRATEGINIS VALDYMAS LIETUVOJE
REGIONS AND THEIR STRATEGIC MANAGEMENT IN LITHUANIA

Summary/Abstract: The aim of this paper is to outline the substance of strategic management in relation to regional development with focus on the basic indicators that evaluate regional competitive advanta-ge. Strategic management presents the collection of methods and approaches that are applicable to the regulation of regional development. The basic requirement of this process is to increa-se competitive advantage of the regions. It is possible to define regional competitive advantage as the ability of regions to gene-rate revenues and keep employment rate at a level correspon-ding to national and international competition. The selection of industrial clusters as focal points for development policies is a complex process. Ultimately, it needs to be demand-driven, if it is to be an effective public-private partnership, but both intui-tion and analytical approaches can provide some direction. Intuition, based on a general knowledge of the economy and investment and performance trends, can be valuable.

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