2014•Procedia - Social and Behavioral SciencesOpen access

Strategic Implementation as a Part of Strategic Management

Mária Mišanková, Katarína Kočišová

Abstract

The article is dedicated to the problem of strategic implementation as a part of strategic management. It has become necessary to formulate vision and mission of the company in business plan. Strategic management, formulation of the strategy and its implementation are important tools of the company for its future development and for maintaining competitiveness. Achieving defined strategy in an effective way is basic factor for company future success. Evaluation of effectiveness of the strategy is conditioned by a number of decisions concerning its modification and actualization.

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Key concepts: Strategic planning, Strategic management, Process management, Business, Strategic financial management, Strategy implementation, Strategic thinking, Plan (archaeology)