Investigation of Strategic Management Models of Small Businesses in Istanbul and Their Effects on Domestic and Foreign Customers
Year: 2025
Type: article
Abstract: Istanbul stands out as one of the most important metropolises in the world with its historical richness and cultural diversity. This large city is home not only to big businesses but also to a large number of small businesses. Small businesses in Istanbul form the backbone of the local economy and contribute to the dynamic socio-economic structure of the city. This chapter will focus on the importance of Istanbul's small businesses in the context of strategic management and their relationships with local and foreign customers. Small businesses often utilize local resources and encourage individual creativity. In particular, businesses offering artisanal products, traditional foods and handmade goods carry an identity that is integrated with Istanbul's cultural heritage and offer unforgettable experiences. However, for these businesses to be successful, they need to have an effective strategic management process. Strategic management involves not only the setting of organizational goals, but also measures to address environmental factors, marketing approaches and customer relations. Today, one of the biggest challenges for small businesses in Istanbul is to adapt to rapidly changing market conditions. With the impact of globalization, local businesses need to differentiate and develop innovative strategies to compete with international competitors. At this point, the importance of strategic management models comes to the fore. An appropriate strategy helps businesses to strengthen their market position, increase customer satisfaction and achieve sustainable growth
Author: Turan, Tuğhan, Assoc. Prof.
Institution: St Clements University Higher Education School
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6911973434
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