Abstract:
Strategic management has enabled enterprises to do business more professionally, efficiently,
proactively, gaining control over the business, satisfying stakeholders and establishing a “fit” between
company’s strengths and weaknesses and the opportunities and threats that exist in the external
environment.
It has gained more significance in the large-scale enterprises. It is generally perceived as irrelevant to
Small and Medium Enterprises (SMEs) in Pakistan. SMEs play a vital role in the development of a
country’s economy. Yet many reasons have lead to the lack of strategic management in them.
This study is conducted in order to understand what strategic management is, how is it beneficial to
organizations, how do SMEs in developed countries adapt it, what is the role of SMEs in the
development of our country, what is the role of SMEDA in this regard.
After thorough research on the above topics, this study critically analyzes the entrepreneurs’ attitude
towards business, level of adoption of strategic management in SMEs in Pakistan and reasons of lack
of its awareness of strategic management.
