Strategic Management Application into the Small and Medium Businesses in Kosovo

Abstract

Similar to majority of places around the globe that operate on part on free markets, Kosovo’s small and medium sized firms and companies struggle to catch up with close competition and against big companies on the other hand, though. Awareness of business people about the fast shifting and quick changes into the market made plenty of owners/entrepreneurs having different view of market they operate, particularly traditional trades which small and medium businesses are part of. The new perspective comprises the need for changes aiming moving personal firm towards cutting edge trends led by contemporary costumers’ tastes, demands and wishes. Fast shifting trends compel businesses insofar as they are required to deeply analyze and indentify both internal and external factors in order to survive and prevail as main objective. Based upon the choice they make, trades may decide staying small and earning big or growing and earning big too; therefore, every single business inescapably ought to find a strategy since merely luck isn’t enough to be relied urging for success. Not two markets can use the single strategy bearing numerous differentiations as in size, demography or economy. Coping with numerous issues business vendors should move forward and equip themselves with useful traits of sharp minded entrepreneurs, adaptive marketing managers, financially smart, long term forecasters, precise predictive and technologically savvy as common mandatory qualities succeeding in a complex market surroundings. Thought, kit of functional traits must be reckoned as proper solution for strategic managing operations of business an aim for long term achievements

Keywords: Strategic, Management, Internal, External, Market, Small, Medium, Success