A strategic management model for economic development

Abstract In this article the authors aim to justify the structure of the strategic management model for rational economic development by evaluating the new challenges facing the national economy development. The use of the SWOT strategic planning tool is critically evaluated, and the benefits of a balanced economic expert analysis structure are substantiated. Based on the findings in this article, it is recommended that government action programmes be based on the national economic development strategy formed by independent experts and given approval by the Lithuanian Seimas (Parliament).