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What is Strategic Direction

Handbook of Research on Emerging Business Models and the New World Economic Order
It is the “flight log” or the route that must be developed in the short, medium, and long term of an organization that generally contains a vision (long term), a mission (short term), objectives, and strategies in the medium term, an action plan (short term, less than a year) and a battery of indicators.
Published in Chapter:
Organizational Components That Explain the Strategic Direction of SMEs for a New World Economic Order: The Case of Colombia
Rafael Ignacio Pérez-Uribe (Universidad Santo Tomas, Colombia), Carlos Salcedo-Perez (Politecnico Grancolombiano, Colombia), and Maria del Pilar Ramirez (EAN University, Colombia)
DOI: 10.4018/978-1-7998-7689-2.ch005
This chapter aims to show some concepts related to the importance of planning and strategic direction as a fundamental tool for the sustainability of Colombian SMEs for a new world economic order and present the proportionality relationship between this concept of strategic management and the organizational components. Keys that explain it and facilitate its development, considering the modernization model for managing organizations (MMOM), were developed by a group of researchers from the EAN University in Bogotá-Colombia. It was found that market management, organizational culture, organizational structure, and knowledge and innovation management are the components that a high percentage explain the strategic direction of this type of company on which priority improvement and innovation activities should be developed in such a way ways that allow strategies to develop more smoothly to achieve business objectives of effectiveness, efficiency, profitability, and sustainable development.
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