STRATEGIC MANAGEMENT PRACTICES IN CORPORATE SECTOR OF PAKISTAN: A LITERATURE SURVEY

Abstract

Strategic management happens to be one of the most critical components determining success and sustainability in the realm of competition in a global market. In Pakistan, the corporate sector is unique in the very challenges it faces, such as the economic downturn, the regulatory framework, technological disruption, and changing consumer behavior. The literature survey, thus, looks into the strategic management practices employed by organizations in Pakistan to deal with these challenges and remain competitive. The study systematically reviews existing research on corporate strategy formulation, implementation, and evaluation in various industries such as banking, telecommunications, manufacturing, and the service sector. It is quite clear from the findings that as time goes on, firms in Pakistan give more and more weight to strategic agility, digital transformation, and corporate governance to improve their operational efficiencies and long-term profitability. Given this context, it critically studies how factors like leadership, organizational culture, and stakeholder involvement shape corporate strategies. The literature, apart from exploring the above aspects, also highlights some factors that obstruct effective strategic management like bureaucratic slippages, policy swings, and resource constraints as barriers to growing corporations. The study concludes with the identification of research gaps and suggestions for future research on making more resilient and adaptable strategic frameworks with contextual relevance in the Pakistan corporate environment. This review provides the background needed by policymakers, corporate leaders, and researchers who want to improve strategic management practice for sustainable economic development in Pakistan.