Abstract:

Earlier studies have established the importance of strategic management in the development of large corporations while few works have explored the possibility of using strategic management to help develop the critical sector of the economy, Small and Medium Scale Enterprises (SMEs). Where studies are done in this area, they are carried out in the developed economies and little or sparse studies have focused on the developing economies with attendant limitations in scope and methodology. Two divergent strands are noticeable: the first is the Ad Hoc planning, which believes that planning does not need to be structured, regular, comprehensive and constantly reviewed before SMEs development is enhanced, while the strategic planning strand emphasized consistent and formal SWOT analysis as a blue print for SMEs survival and development. This divergence therefore calls for further studies on how strategic management should feature in the development of SMEs. Key Words: Strategic Management, Small and Medium Enterprises, Organizational Development.

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