The basic characteristics of corporate strategy and firm value.
Strategy creation is the most responsible and demanding work, because this process has a number of specific characteristics. These characteristics include a focus on the future, work with risk, allocation of resources and participation of the top management. In the long run, all factors are variable and it is difficult to predict their development. Strategic work covers the activities of the whole firm, because it is a complex activity that must work with information from various fields. The article presents the results of the empirical research conducted in the Czech Republic. The research found out the respect for the main recommendations for strategy creation and implementation. The impact of the respect for these recommendations to value creation was measured by summary index.
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