Executive management and strategic decisions Cover Image

Извршниот менаџмент и стратешките одлуки
Executive management and strategic decisions

Author(s): Vasil Popovski, Eleonora Blazevska
Subject(s): Economy
Published by: Економски институт - Скопје
Keywords: Executive management; strategic management; strategic decisions; corporate culture; organizational success; knowledge; creativity and innovation.

Summary/Abstract: To summarize, strategic management is a very complex segment that unifies several different, but extremely important things. It governs acquired knowledge, different informational systems, improves corporate culture, and initiates creativity and responsibility amongst employees. By setting a personal example and by accepting the team opinion, strategic management as such mobilizes everyone in the organization, keep the focus on improving efficiency and organizational growth. But most of all, all operational decisions that are truly the motion machine of one organization do in this way become integral part of the general strategy of the organization. Challenges and changes are described to be the biggest challenge in life. They bring uncertainty at first, but if managed properly lead to success. Through the constant chain of changes taking place, it becomes more and more evident that acquisition of knowledge and experience and their implementation is of an essential importance for the organizational success, as well as for their managing. A point to note will be the incorporation of relevant, team member’s opinions, accepting other relevant experiences. Traditional knowledge as a base to acquired experience makes executive management more intuitive and able to manage difficult situations and make strategic decisions. In this way, they make themselves part of the frame in which they act and work daily. Executive management is responsible to secure stability, security and solid basis for organization operations and existence. They need to know how to disseminate values that are set to their subordinates and colleagues, thus making the process of executive decision making endurable.Strategic management will define the development of an organization, its complexity of internal systems like corporate culture creativity and innovation, will define its effectives and mobilize employees. Finally strategic management will realize reaching final goal and company strategy.

  • Issue Year: 11/2009
  • Issue No: 1-2
  • Page Range: 99-116
  • Page Count: 18
  • Language: Macedonian