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

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Author Info
Stefan NEDELEA () (Bucharest Academy of Economic Studies, Romania)
Laura Adriana PAUN () (Bucharest Academy of Economic Studies, Romania)

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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.

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File URL: http://www.rmci.ase.ro/Login/no10vol1/Vol10_No1_Article8.pdf
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Publisher Info
Article provided by Faculty of Management, Academy of Economic Studies, Bucharest, Romania in its journal REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT.

Volume (Year): 10 (2009)
Issue (Month): 1 (March)
Pages: 95-105
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Handle: RePEc:rom:rmcimn:v:10:y:2009:i:1:p:95-105

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Web page: http://www.management.ase.ro/
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Related research
Keywords: strategic management; knowledge; high-performing organization.;

Find related papers by JEL classification:
L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other

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This page was last updated on 2009-11-22.


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