There are many strategies of the enterprise: production, commodity, price, etc. But at the heart of any strategy are competitive advantages. Strategic management can be defined as managing the competitive advantages of an enterprise.
Formation of the strategy is a complex creative process that requires combining the management and marketing achievements in a single approach to determining the prospects for the development of the enterprise.
The formation of the strategy is based on forecasting the conditions of the company’s external environment, primarily the conjuncture of the consumer market in general and its selected segment, which is an element of marketing. However, when forming a strategy, an extensive search and evaluation of alternative options for strategic management decisions that are most relevant to the mission of the enterprise and the tasks of its development are needed, which is undoubtedly an essential part of management. The strategy of the enterprise requires periodic adjustments, taking into account changing environmental conditions and emerging new development opportunities, which determines the relationship between strategic management and marketing.
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