Strategic Management in Indian MSMEs- A Literature Review
Journal Title: International Journal of Management, IT and Engineering - Year 2017, Vol 7, Issue 11
Abstract
Large corporations across globe are following strategic management practices to achieve continuous growth. Though size of a business corporation is not a determining factor for strategic approach to business practices, strategies are more visible in case of large organizations since corporate and marketing communications make them visible. Michael Porter in his book „Competitive Advantage‟ mentions strategic management is everything about how a company uses its resources to perform better than its competitors at any point of time. The Strategic Management is now gaining prominence in the corporate board rooms where major policy decisions on investments and returns are made. Strategic Management is everything about competitive advantage i.e. how you can perform better than your competitors consistently and in all the functional areas. Management has no more remained an excellence in any one of the field of manufacturing, marketing, finance, human resource, engineering, etc., rather the modern management propagates integration of all thesefunctional areas to achieve combined excellence. Every entrepreneur follows some management principles to run the show, irrespective of size and nature of business. Over years, there has been considerable change in business practices followed in view of various factors like changing business scenario, intense competition, customer-dominance, government focus and support, societal expectations, etc. The Present Study covers the overview of Strategic Management in MSMEs with respect to Indian Context.
Authors and Affiliations
PushpaHongal, Dr. PoornimaCharantimath and Gururaj G. Phatak
Keywords
Related Articles
- EP ID EP18914
- DOI -
- Views 328
- Downloads 12
A Study of Management of Intellectual Property RightsSpecial Reference to Music Industry
Intellectual Property is a strategic asset for industry and public health. It is a key element needed to maintain a competitive edge in the market. For Business growth of any enterprise, it is important to protect the...
DEVELOPMENTAL COMPETENCE MAPPING OF UTTARAKHAND AS A TOURIST DESTINATION IN INDIA: A CRITIQUE
In the present times the tourism industry across the globe is the sector which has the topmost growth rate. This sector has seen miraculous advancement in the revenues and profits for various economics throughout the w...
A STUDY ON NURSES ATTRITION FACTORS AND RETENTION TECHNIQUES
Healthcare industry is one of the world’s largest growing industries. Rapid growth is seen visibly even during economy down trend healthcare Industry retained it position at the increasing trend.Corporate Industry has...
Global Financial Crisis: An Indian Context
The financial crisis that originated in the United States in 2007-08 became a global financial crisis unprecedented since the Great Depression of the 1930s. Since mid-september of 2008 financial markets had collapsed a...
CONSUMER PREFERENCE TO BRAND OF MASAL POWDER
Masala refers to a mixture of many contiments which gives a plesant odour. Gone were the days, the housewives used many contiments such as pattai, lavangam, crampu, kasa kasa, sompu, coriander, pepper, cumin, turmeric,...