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The importance of the strategic management process in the knowledge-based economy

Author

Listed:
  • Stefan NEDELEA

    (Bucharest Academy of Economic Studies, Romania)

  • Laura Adriana PAUN

    (Bucharest Academy of Economic Studies, Romania)

Abstract

In the modern economy, competitiveness means information and know-how rather than capital and physical assets. Therefore, the key process for any competitive organization is to strategically use their information resources and knowledge assets by remembering and applying experience. An organization’s ability to compete on the market is increasingly seen as depending on the skills and knowledge of its managers and employees, regarded as intelectual capital, and put to good use while formulating, implementing and adjusting strategies. In the current business environment, knowledge evolves rapidly and the useful life span of the organizational skills is decreasing, which means the survival and competitiveness of an organization is linked to its ability to learn and include its findings in their strategic management process.

Suggested Citation

  • Stefan NEDELEA & Laura Adriana PAUN, 2009. "The importance of the strategic management process in the knowledge-based economy," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(1), pages 95-105, March.
    • Handle: RePEc:rom:rmcimn:v:10:y:2009:i:1:p:95-105
    as

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    File URL: https://www.rmci.ase.ro/no10vol1/Vol10_No1_Article8.pdf
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    References listed on IDEAS

    as
    1. Gemunden, Hans Georg & Heydebreck, Peter, 1995. "The influence of business strategies on technological network activities," Research Policy, Elsevier, vol. 24(6), pages 831-849, November.
    2. Kathleen M. Eisenhardt & Jeffrey A. Martin, 2000. "Dynamic capabilities: what are they?," Strategic Management Journal, Wiley Blackwell, vol. 21(10‐11), pages 1105-1121, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    strategic management; knowledge; high-performing organization.;
    All these keywords.

    JEL classification:

    • L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other

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