Strategic management in modern world: A comprehensive review of the related literature

The field of strategy has mounted an enormous effort to understand, define, predict, and measure how organizational capabilities shape competitive advantage. Nowadays, businesses and firms are facing a great pressure from their environment to work on the basis of sustainability and creation of value, so that their return would be increased. The sustainability of firms depends upon effective use of strategic management processes. These processes vary from time to time and they re highly dependent upon the field businesses operate in, their own characteristics, the setting they re in (time and place) and their objectives. This study is an attempt to investigate the growth of strategic management within modern world by looking into the literature on this topic. Our findings showed that like anything else that develops and matures over time, strategic management also develops as the time pass and is largely influenced by the business environment

Keywords:

strategy , management , strategic management , modern , globalization