Strategic Management and its Importance for Business Development of Company

Xiyue Zhang

Bachelor's thesis

Abstract:

In the current economic environment, small and medium-sized enterprises usually face fiercer market competition and have higher requirements for core competitiveness and management capabilities. The development strategy of SMEs has an important impact on their long-term business development. Formulating a scientific development strategy plan and establishing a sound development strategy management system can effectively ensure the healthy development of SMEs. From this perspective, the business development of SMEs needs the support of a sound development strategy management system, which can solve the problems in the development of SMEs in a timely manner and achieve healthy development. A strategic management mechanism to promote the development of SMEs. In this context, entrepreneurial SMEs need to actively pay attention to the development of strategic management, strengthen the corresponding measures for the development of strategic management, and have the core connotation of modern enterprise development strategic management better recognition. This article takes Szlong company as an example to conduct an in-depth study on the development strategy management of Szlong company. First of all, according to financial analysis, it is concluded that Szlong has the advantages of sound business system, healthy financial status, advantages in operation and development, weak core competitiveness, lack of scientific management awareness, and insufficient overall risk resistance capabilities. Secondly, through the analysis of interview method and survey method, it is pointed out that the development of Szlong company lacks precise development strategy concept, lack of long-term business strategy goal, lack of pragmatic marketing implementation strategy, lack of development strategy. Finally, through the use of related theories such as strengthening strategy and diversification strategy, combined with Szlong own situation, adopting precise development strategy concepts, formulating long-term development war goals, formulating pragmatic marketing implementation strategies, and strengthening the company's core entities.

Abstract:

In the current economic environment, small and medium-sized enterprises usually face fiercer market competition and have higher requirements for core competitiveness and management capabilities. The development strategy of SMEs has an important impact on their long-term business development. Formulating a scientific development strategy plan and establishing a sound development strategy management system can effectively ensure the healthy development of SMEs. From this perspective, the business development of SMEs needs the support of a sound development strategy management system, which can solve the problems in the development of SMEs in a timely manner and achieve healthy development. A strategic management mechanism to promote the development of SMEs. In this context, entrepreneurial SMEs need to actively pay attention to the development of strategic management, strengthen the corresponding measures for the development of strategic management, and have the core connotation of modern enterprise development strategic management better recognition. This article takes Szlong company as an example to conduct an in-depth study on the development strategy management of Szlong company. First of all, according to financial analysis, it is concluded that Szlong has the advantages of sound business system, healthy financial status, advantages in operation and development, weak core competitiveness, lack of scientific management awareness, and insufficient overall risk resistance capabilities. Secondly, through the analysis of interview method and survey method, it is pointed out that the development of Szlong company lacks precise development strategy concept, lack of long-term business strategy goal, lack of pragmatic marketing implementation strategy, lack of development strategy. Finally, through the use of related theories such as strengthening strategy and diversification strategy, combined with Szlong own situation, adopting precise development strategy concepts, formulating long-term development war goals, formulating pragmatic marketing implementation strategies, and strengthening the company's core entities.

Keywords

financial analysis, finance ratio, innovation, SME, strategic management, strategic analysis, strategic positioning

Language used: English

Date on which the thesis was submitted / produced: 8. 9. 2020

Thesis defence

• Date of defence: 3. 11. 2020
• Supervisor: Ing. Přemysl Písař, Ph.D.
• Reader: Ing. Miroslav Pavlák, Ph.D.

University of Finance and Administration

Bachelor programme / field:
Economics and Management / Business Management and Corporate Finance