Strategic management is an emerging issue in the field of management. It incorporates science into the management of the firm. It is essential in the contemporary dynamic environment of the organization. Failure to incorporate it in the management of the firm can adversely affect the firm. Globalization is rapidly affecting the environment in which businesses operate in. As such, due to the globalization, survival of the business organization is essential. This can effectively be achieved through strategic management. As such failure to incorporate strategic management in the organization will lead to a failure of the business.
Dynamism in the ...