International University of Travnik , Travnik , Bosnia and Herzegovina
International University of Travnik , Travnik , Bosnia and Herzegovina
International University of Travnik , Travnik , Bosnia and Herzegovina
Strategy is simultaneously planned and unpredictable, dynamic and interactive. In order for strategic management to succeed, organizations must stick to the plan. They should be guided by a set of goals that they have formulated with the aim of creating a promising business. It is necessary to continuously strive to better understand clients. Overestimating resource capacity and underestimating time frames should be avoided. The commitment of employees and senior management should be gained through open and healthy communication channels. Finally, most importantly, management needs to develop the ability to anticipate environmental reactions and manage change.
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