The Importance of the Strategic Management Process
in the Knowledge-Based Economy

Vol:10 No.1 / 2009


Ştefan Nedelea
The Bucharest Academy of Economic Studies, Romania
E-mail: stefan.nedelea@gmail.com
Phone: +4 0213191900, ext. 165

Laura Adriana Păun
The Bucharest Academy of Economic Studies, Romania
E-mail: laura.paun@gmail.com
Phone: +4 0213191900, ext. 165


Read full-text...

      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 organizationís 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.


      Keywords: strategic management, knowledge, high-performing organization

Pages: 95 - 105