The Impact of Globalization on Strategic Management in Lebanon
DOI:
https://doi.org/10.47604/ijsmp.1939Keywords:
Impact, Globalization, Strategic Management, LebanonAbstract
Purpose: The study sought to analyze the impact of globalization on strategic management in Lebanon.
Methodology: The research was conducted entirely on desktop review method. Secondary data, or data that doesn't require actual observation in the field, are the focus of desk research. Because it requires little more than an executive's time, telephone rates, and directories, desk research is generally seen as a low-cost strategy in comparison to field research. As a result, the research used data that had already been collected and reported. Secondary sources such as internet journals and libraries made this information readily available.
Findings: The results show that the impact of globalization on strategic management is far reaching and has changed the way managers view their roles and responsibilities, the way they think about strategy, and the way they go about developing and implementing strategies. They must also be able to effectively manage resources and operations across multiple countries, as well as develop strategies that are tailored to different global markets. Globalization has led to an increase in competition, a shift in the way organizations approach their customers and markets, and the availability of resources and information. Organizations in Lebanon can leverage the opportunities created by globalization in several ways such as focusing on customer segmentation, leveraging new technologies and expanding their operations in new markets.
Unique Contribution to Theory, Practice and Policy: It is possible that the theories of globalization of markets and transaction costs will serve as the foundation for future research in the field of strategic management. Policymakers, researchers, and academics from all across the world will all stand to gain from this study's findings. The country's senior strategic management executives will also use the study's conclusions to boost globalization across the board. The study suggests that urbanization firms increase the effectiveness of their primary operations and activities by adopting strategic management principles.
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