STRATEGIC MANAGEMENT IN THE DIGITAL ERA

The business environment in the 21st century is changing at an unprecedented pace. Advances in digital technology, economic globalization, shifting consumer preferences, geopolitical dynamics, and increasing demands for sustainability have created an increasingly complex and uncertain environment. Organizations, both for-profit and nonprofit, can no longer rely on static advantages but are instead required to adapt, innovate, and respond quickly to change. In such conditions, strategic management is a discipline that plays a crucial role in helping organizations determine direction, capitalize on opportunities, anticipate risks, and maintain a sustainable competitive advantage

Strategic management has evolved from simply developing long-term plans into a dynamic, integrative, and value-creating managerial process. Through strategic management, organizations not only establish their vision, mission, and long-term goals, but also analyze their internal and external environments, formulate strategic alternatives, implement strategic decisions, and evaluate their effectiveness in the face of environmental changes. Thus, strategic management is a continuous process that connectsall organizational functions to achieve goals effectively and efficiently.