THE SIGNIFICANCE OF STRATEGIC MANAGEMENT FOR BUSINESS ORGANIZATIONS

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Published: Jun 23, 2023
Keywords:
Strategic Management, Vision, Objectives, Strategy Formulation, Strategy Implementation, Evaluation, Corporate Strategy, Business Strategy, Functional Strategy, Operational Strategy, Corporate Governance.

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Reyimberdiyev Baburbek Adilbek o’g’li
Teacher of Tashkent State University of Economics Uzbekistan

Abstract

This paper highlights the significance of strategic management in business organizations. It provides a comprehensive definition of strategy and explores key elements of strategic management, including strategic vision, objectives, strategy formulation, implementation, evaluation, and corrective action. The research also emphasizes the role of corporate governance in strategic management, particularly the involvement of the board of directors in developing and executing strategies. Additionally, the paper examines different levels of strategy, such as corporate, business, functional, and operational, and emphasizes their importance in effectively managing business organizations. Given the dynamic and competitive nature of the operating environment, the paper underscores the need for businesses to recognize the importance of developing and executing strategies that can establish sustainable competitive advantage.

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How to Cite
Reyimberdiyev Baburbek Adilbek o’g’li. (2023). THE SIGNIFICANCE OF STRATEGIC MANAGEMENT FOR BUSINESS ORGANIZATIONS. Galaxy International Interdisciplinary Research Journal, 11(6), 448–451. Retrieved from https://internationaljournals.co.in/index.php/giirj/article/view/4215
Issue
Vol. 11 No. 6 (2023): GIIRJ
Section
Articles
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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