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Strategic Management as an Essential Part of Business Development and Growth

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  • Silva Aguilar German Israel

    (Faculty of Foreign Trade, University of Colima.)

  • Vargas Lopez Erendira Yareth

    (Faculty of Foreign Trade, University of Colima.)

  • Lopez Alvarado Noé

    (Faculty of Foreign Trade, University of Colima.)

Abstract

This critical literature review analyzes strategic management as a fundamental component of business development and growth. It addresses theoretical gaps in the integration of contemporary management tools and leadership approaches. Through a systematic analysis of at least fifteen key theoretical contributions spanning five decades (1970–2023), this study examines the evolution of strategic management conceptualization, identifies limitations in current models, and proposes a more integrated analytical framework. The review reveals three critical gaps: insufficient integration between strategic planning and operational tools such as TQM and BPR; limited contextualization of leadership models for emerging markets; and inadequate consideration of the impact of digital transformation on strategic processes. The main contributions of this study are a comparative synthesis of strategic management approaches, a critical evaluation of implementation challenges, and recommendations for future research directions that focus on SME applications and digital-era adaptations.

Suggested Citation

  • Silva Aguilar German Israel & Vargas Lopez Erendira Yareth & Lopez Alvarado Noé, 2025. "Strategic Management as an Essential Part of Business Development and Growth," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(6), pages 3990-3997, June.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-6:p:3990-3997
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