Strategic management and its effects on Serbian wood industry

  • Valentina Vukmirović PhD student
  • Dejan Petrović University of Belgrade, Faculty of Organizational Sciences, Serbia
  • Milica Kostić-Stanković University of Belgrade, Faculty of Organizational Sciences, Serbia

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.

Author Biographies

Valentina Vukmirović, PhD student
MSc Valentina Vukmirović is a PhD student at the Faculty of Organizational Sciences. She has published numerous papers in refereed journals and participated in many scientific conferences in the country and abroad. Her research interests include marketing management, brand management and visual communications.
Dejan Petrović, University of Belgrade, Faculty of Organizational Sciences, Serbia
Dejan Petrović, PhD is a full professor and Head of Department of Management and specialized management disciplines at the Faculty of Organizational Sciences, University of Belgrade. He is also a visiting professor at several universities in the country and abroad. His research interests include management, project management, strategic management, project appraisal and change management. He has been a consultant for a wide variety of public and private organizations, and has published books and articles in refereed journals
Milica Kostić-Stanković, University of Belgrade, Faculty of Organizational Sciences, Serbia
Milica Kostić-Stanković, PhD, is a full professor and Head of Department of Marketing management and Public Relations. She is also a visiting professor at several universities in the country and abroad. Her research interests include marketing management, public relations and business communication. She has been a consultant for a wide variety of public and private organizations, and has published books, practicums and  rticles in refereed journals. She is a winner of numerous awards and honors in Serbia and abroad.  
Published
2017-11-21
How to Cite
Vukmirović, V., Petrović, D., & Kostić-Stanković, M. (2017). Strategic management and its effects on Serbian wood industry. Management:Journal Of Sustainable Business And Management Solutions In Emerging Economies, 22(3), 37-47. doi:10.7595/management.fon.2017.0027
Section
Articles