Investigation Of The Relationships Among Strategic Management, The Opening Up Of International Trade, And The Overall Economic Development Within Libya (POST-2000).

Abstract

This research study employed a rigorous analysis of data to investigate the relationships between strategic management, international trade liberalization, and national growth in Libya. The research objectives were achieved through a comprehensive examination of the collected data, utilizing various statistical techniques. The initial phase of the analysis involved assessing the reliability of the questionnaire used in the study. Cronbach's Alpha yielded an excellent internal consistency score of \( \alpha = 0.91 \), affirming the reliability of the questions related to strategic management. Pearson's correlation coefficient was employed to measure the strength and direction of associations between variables. The findings revealed a statistically significant and moderately positive linear relationship (\( r = 0.404 \), p < 0.001) between strategic management and the liberalization of trade in Libya. Moreover, a statistically significant association (\( r = 0.145 \), p = 0.039) was identified between liberalization of trade and national growth, further emphasizing the impact of trade policies on the nation's development. In summary, this study provides valuable insights into the interplay between strategic management, international trade, and national growth in Libya. The results indicate that strategic management plays a crucial role in shaping trade policies and, consequently, influencing the country's economic growth. These findings have important implications for policymakers and business leaders seeking to enhance Libya's economic prosperity in the context of globalization.

Keywords

• Strategic Management
• International Trade
• Economic Development

References

1. Aalbers, D. and Teo, T. (2017) ‘The American Psychological Association and the torture complex: A phenomenology of the banality and workings of bureaucracy’, Journal für Psychologie, 25(1), pp. 179–204.
2. Abed, A. M., Ulusoy, T (2023). Strategic Management of Corporate Sustainability: Value and Performance Based Sustainable Strategic Management Model. Quantrade Journal of Complex Systems in Social Sciences, 5(2), 84-89.
3. Aboudaber, A. (2023). Strategic Planning In Libya’s Higher Education System: A Theoretical Evaluation. Quantrade Journal of Complex Systems in Social Sciences, 5(1), 1-16.
4. Alwetwat, T. F. S. (2023). The Effect of Organizational Change and Development Management on Sustainable Development. Quantrade Journal of Complex Systems in Social Sciences, 5(1), 65-72.
5. Agwu, M. E. (2018) ‘Analysis of the impact of strategic management on the business performance of SMEs in Nigeria’, Academy of Strategic Management Journal. Jordan Whitney Enterprises, Inc, 17(1), pp. 1–20.
6. Borras, S.M.Jr., Kay, C., Gómez, S. and Wilkinson, J. et al. (2010) ‘Trade Liberalization and Poverty Reduction: New Evidence from Indian States’, Food and Agricultural Organization of the United Nations. doi: 10.1016/j.ecolecon.2009.11.001.
7. Burnes, B. (2004) Managing change: A strategic approach to organisational dynamics. Pearson Education.
8. Butler, R. J. and Carney, M. (1986) ‘Strategy and strategic choice: The case of telecommunications’, Strategic Management Journal. Wiley Online Library, 7(2), pp. 161–177.

9. Carucci, R. (2021) ‘How leaders get in the way of organizational change’, Harvard Business Review. Retrieved from https://hbr. org/2021/04/how-leaders-get-in-the-way-oforganizational-change.
10. Cevik, S. and Rahmati, M. H. (2020) ‘Searching for the finance–growth nexus in Libya’, Empirical Economics, 58(2), pp. 567–581. doi: 10.1007/s00181-018-1593-6.
11. Couper, M. P. (2000) ‘Web surveys: A review of issues and approaches’, The Public Opinion Quarterly. JSTOR, 64(4), pp. 464–494.
12. Cronbach, L. J. (1951) ‘Coefficient alpha and the internal structure of tests’, psychometrika. Springer, 16(3), pp. 297–334.
13. Elgnaidi, M., & Toprak, M. (2023). Interconnectedness of Libyan Financial and Real Sectors. Quantrade Journal of Complex Systems in Social Sciences, 5(2), 90-109.
14. Farag, F. S., Ab-Rahim, R. and Mohd-Kamal, K.-A. (2021) ‘Foreign trade and economic growth relationship: Empirical evidence from Libya’, International Journal of Academic Research in Business and Social Sciences, 11(4), pp. 181–190.
15. Field, A. (2013) Discovering statistics using IBM SPSS statisField, A. (2013) Discovering statistics using IBM SPSS statistics. sage.tics. sage.
16. Findlay, R. (1991) ‘Comparative advantage’, in The World of Economics. Springer, pp. 99–107.
17. Irwin, T., Tonkinwise, C. and Kossoff, G. (2022) ‘Transition design: An educational framework for advancing the study and design of sustainable transitions’, Cuadernos del Centro de Estudios en Diseño y Comunicación. Ensayos. SciELO Argentina, (105), pp. 31–72.
18. Joyce, P. (2015) Strategic management in the public sector. Routledge.
19. Kaplowitz, M. D., Hadlock, T. D. and Levine, R. (2004) ‘A comparison of web and mail survey response rates’, Public opinion quarterly. Oxford University Press, 68(1), pp. 94–101.
20. Krosnick, J. A. (1999) ‘Survey research’, Annual review of psychology. Annual Reviews 4139 El Camino Way, PO Box 10139, Palo Alto, CA 94303-0139, USA, 50(1), pp. 537–567.
21. Elkurdi, F. A. (2023). Cryptocurrency Impacts on Strategic Management. Quantrade Journal of Complex Systems in Social Sciences, 5(1), 23-31.
22. Mankins, M. C. and Steele, R. (2005) ‘Turning great strategy into great performance’, Harvard business review. Jul./Aug, 2607.
23. Matusz, S. J. and Tarr, D. G. (1999) Adjusting to trade policy reform. World Bank Publications.
24. Mikoluk, K. (2013) ‘Planning in management: strategic, tactical, and operational plans’, Retrieved on October, 13, p. 2019.
25. Milner, H. V. and Yoffie, D. B. (1989) ‘Between free trade and protectionism: Strategic trade policy and a theory of corporate trade demands’, International Organization, 43(2), pp. 239–272. doi: 10.1017/S0020818300032902.
26. Mohammed, R. A. and Rugami, J. (2019) ‘Competitive strategic management practices and performance of small and medium enterprises in Kenya: a case of Mombasa county’, International Journal of Current Aspects, 3(6), pp. 193–215.
27. Momanyi, C. (2020) ‘Influence of Sustainable Strategic Management Practices on the Performance of Technical and Vocational Education and Training: A Literature Based Review’, Journal of Strategic Management, 4(3), pp. 10–29.
28. Nagaraj, R. (2003) ‘Industrial policy and performance since 1980: Which way now?’, Economic and Political Weekly. JSTOR, pp. 3707–3715.
29. Örgün, B. O. (2012) ‘Strategic Trade Policy Versus Free Trade’, Procedia - Social and Behavioral Sciences, 58, pp. 1283–1292. doi: 10.1016/j.sbspro.2012.09.1111.
30. Parikh, A. and Stirbu, C. (2011) ‘Relationship between Trade Liberalisation, Economic Growth and Trade Balance: An Econometric Investigation’, SSRN Electronic Journal. doi: 10.2139/ssrn.567065.
31. Rafiq, M. and Ahmed, P. K. (2000) ‘Advances in the internal marketing concept: definition, synthesis and extension’, Journal of Services Marketing. doi: 10.1108/08876040010347589.
32. Rivera-Batiz, F. L. and Rivera-Batiz, L. A. (2018) International trade, capital flows and economic development, International Trade, Capital Flows and Economic Development. doi: 10.1142/10431.
33. Rose, A. G. and Lawton, A. (1999) ‘Public services management’, (No Title).
34. Stiglitz, J. E. (1991) Government, financial markets, and economic development. National Bureau of Economic Research Cambridge, Mass., USA.
35. Tourangeau, R., Rips, L. J. and Rasinski, K. (2000) ‘The psychology of survey response’. Cambridge University Press.
36. Ulusoy, T., & Çelik, M. Y. (2019). Financial Literacy in Agricultural Products Industry: The Case of Kastamonu. Alinteri Journal of Agriculture Science, 34(1), 57-66. https://doi.org/10.28955/alinterizbd.542361
37. Ulusoy, T. & Saeed, M.. (2022). “The Effect Of Corporate Governance Compliance Rating On The Company's Firm Value: A Survey On Managers' Perception”, International Academic Social Resources Journal, (e-ISSN: 2636- 7637), Vol:7, Issue:43; pp:1257-1272.
38. Ulusoy, T.; Saeed, M. & Kaplan Dönmez, N.F. (2022). “Yönetim Düzeyinde Bilgi Teknolojisi Yönetişimi İle Firma Performansı Arasındaki İlişkide Yeniliğin Aracılık Rolü: Teorik Bir Yaklaşım”, International Social Mentality and Researcher Thinkers Journal, (Issn:2630- 631X) 8(59): 841-848
39. Van de Ven, A. H. and Poole, M. S. (1995) ‘Explaining development and change in organizations’, Academy of management review. Academy of Management Briarcliff Manor, NY 10510, 20(3), pp. 510–540.