Introduction
Within the field of European business studies, strategic management of companies is a fundamental subject that plays a vital role in the success of modern organizations. In this course paper, the author examines the strategic management challenges facing a Latvian woodworking company and proposes potential solutions to enhance its strategic position and contribute to Latvia's economic development. In today's globalized economy, effective strategic management is crucial for businesses to achieve sustainable growth, create employment opportunities, and contribute to national economic development. However, many Latvian woodworking companies face significant challenges in formulating and implementing modern strategic approaches, such as digitalization, to remain competitive. As a result, it is essential to investigate and address these strategic management challenges to ensure the long-term viability of Latvian woodworking companies.
This topic is important to the author becau...