კონფერენცია

∘ Fati Shengelia ∘
THE ROLE OF STRATEGIC MANAGEMENT IN COMPANY’S ACTIVITY

Summary

Strategic Management is one of the most important „hard skills“ in business management. Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company’s top management on behalf of owners, based on consideration of resources and assessment of the internal and external environments in which the organization competes. The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Fati Shengelia ∘ THE ROLE OF STRATEGIC MANAGEMENT IN COMPANY’S ACTIVITY Summary Strategic Management is one of the most important „hard skills“ in business management. Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company’s top management on behalf of owners, based on consideration of resources and assessment of the internal and external environments in which the organization competes. The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.