Strategy Role for Manufacturing Industry
Economics and Management 2012
Vladimirs Šatrevičs, Jānis Zvanītājs

The objective of this paper is to analyse the role of the strategic management for manufacturing industry in Latvia. Paper explains current strategic approaches and shows strategic management development, describing it based on the technological evolution approach. Firstly, authors use exploratory r esearch to determine current behaviour of the industry. At present manufacturing industry have been missing proper strategies and the necessary orientation for export promotion for the products. The growth of the export of manufacturing products depends on identification the proper strategy, by analysing the present market factors. In order to compete in international markets well-defined strategy, establishing sustainable development for the industry is necessary. The development of strategic management in industry as breakthrough innovations or technological standard of the industry are observed. Once the standard is clear and market demand is growing, competition starts as "economy of scale" for efficient and lower costs. This paper is analytical study of different aspects of export for manufacturing industry in Latvia


Keywords
strategic planning, strategic theory of the company, industry development
DOI
10.5755/j01.em.17.1.2271
Hyperlink
http://www.ecoman.ktu.lt/index.php/Ekv/article/view/2271

Šatrevičs, V., Zvanītājs, J. Strategy Role for Manufacturing Industry. Economics and Management, 2012, Vol. 17, No. 1, pp.223-230. ISSN 1822-6515. e-ISSN 2029-9338. Available from: doi:10.5755/j01.em.17.1.2271

Publication language
English (en)
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