THE IMPACT OF STRATEGIC MANAGEMENT ON ORGANIZATIONAL GROWTH

"Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved, assesses its competitors and set goals and strategies to meet all existing and potential competitors, and then reassess each strategy annually or quarterly (ie regularly) to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet charged circumstances, new technology, new competitors, a new economic environment, or a new social, financial or political environment" (Lamb, 1984). Achieving a competitive advantage position and enhancing firmperformance relative to their competitors are the main objectives that business organizations in particular should strive to attain.