Strategic management and its effects on Serbian wood industry

Abstract

According to the available data on economic trends in Serbia, it is noticeable that companies in wood industry do not use their capacities to the maximum. Furthermore, a significant number of newly founded small enterprises, shortly after their establishment, go bankrupt or go into liquidation. Research works that have been conducted so far have indicated that, most commonly, company deterioration is caused by a lack of strategic approach in business management and company development. The aim of this paper is to gain an insight into the extent to which wood industry enterprises apply strategic approach (their vision, mission and development strategies) when making business decisions, as well as the effects of such approach. This will be achieved by analyzing collected questionnaires and interviews with competent experts from wood industry monitoring institutions. Besides, SWOT and PESTLE analyses of the surveyed companies will be conducted. Furthermore, possible solutions for overcoming weaknesses and threats emerging in Serbian wood industry development will be indicated. Likewise, the possibilities for encouraging industry development and increasing its competitiveness level will be presented.

Implementing selected strategic documents focused on increasing efficiency and competitiveness of agricultural enterprises in the Czech Republic

“…It causes the absence of other strategic documents as well. However, if there are no strategic documents in companies, the preservation of sharing and preservation of knowledge influencing employees' actions and the achievement of performance and target behaviour of the company is missing as well (Vukmirović et al 2017). The existence of strategic documents is the first prerequisite of a successful implementation of individual activi-ties in the company, leading to a competitive advantage (David et al 2014;Hitka et al 2018;Manab and Aziz 2019).…”

“…Still, it is necessary to effectively plan organisational processes and create strategic documents in accord-https://doi.org/10.17221/381/2020-AGRICECON ance with their settings. According to research by Baral and Pokharel (2016), Džupina (2017), Vukmirović et al (2017), strategic documents help in developing and achieving competitive advantage of companies.…”