STRATEGY MAIN COMPONENT OF THE STRATEGIC MANAGEMENT PROCESS, IN THE CONTEXT OF ORGANIZATIONS ADHERING TO THE KNOWLEDGE BASED MANAGEMENT

TStrategy and strategic management are two concepts that must not be mixed up. The process of strategic management includes, among others, the foundation and drafting of a strategy. Furthermore, strategy also represents an efficient means to adapt and answer to the requests of the external environment. Therefore, the application of an efficient strategic management process allows the organization to adapt to the external environment changes, and furthermore to the knowledge based management and organization.