The Role of Strategic Management in Economic Cycles of Family Enterprises in the Process of Institutionalization ()
ABSTRACT
Family businesses in our country and in the world are an important force in
the economy. Therefore, the importance of family businesses in the economy is indisputably
large. But nowadays competition and globalization reduce the sustainability of family
businesses. This situation firstly harms the family business and then the economy
significantly. Strategic management has become a necessity in today’s world where
competition is increasing day by day and competition is globalized. Strategic management
activities are carried out to ensure long-term success in almost all sectors. They
can achieve the target and long-term achievements that they want to achieve in the
near future through strategic management. The focus of this study is on the adoption
of a strategic management approach to the positions that enterprises must take against
the conditions arising from global competition.
Share and Cite:
Saridag, A. (2021) The Role of Strategic Management in Economic Cycles of Family Enterprises in the Process of Institutionalization.
Open Journal of Business and Management,
9, 527-535. doi:
10.4236/ojbm.2021.92029.
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