From factors of production to factors of creation: "Best" model as a strategic management framework

Sharma (1998) Provides a holistic perspective on concepts of best managers and a strategic management framework model. Four factors are considered as essential components of the management decision making process: behavioral, economic, strategic, and technical (BEST). This BEST framework is presented in the diagrammatic form of a steering wheel. The BEST model also refers to 4 types of markets: labor, capital, product, and technological. From the BEST model, the concept of BEST analysis is derived and applied in a strategic management framework.
Issues discussed include factors in creation and production, behavior of organizations, and organizational culture. It is suggested that in a highly competitive environment, organizations with higher creativity would be able to create new markets and new ideas.

Sharma, Subhash. (1998). From factors of production to factors of creation: "Best" model as a strategic management framework. Abhigyan. Vol. 16, 43-47.