Strategic Management is compulasry for any company or organization. Although there are so many organizations who are doing well without having any strategy but in the long term if they want to succeed then without proper strategic management they will not be able to continue the growth. Competitive advantage is what keeps great organizations ahead of their competitors. The company, which has a competitive advantage, performs financially much better than other companies in the industry or better than the industry average. For every organization out there it is vital to plan strategically, i.e. analyze, create, implement and monitor, and do this continuously. It is an essential process if the organization wants sustain in the market. The main purpose of doing it is to combine the energy of organization’s functional areas into one focused effort to achieve superior performance.
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