Strategic Management in Msme Mr. Mohideen A.K.*, Assistant Professor, Prof. Rao A. Babu**, Director *Department of Management Studies, Vel Tech Multi Tech Dr. Rangarajan Dr. Sakunthala Engineering College, Avadi, Chennai. **Ambedkar Institute of Management Studies (AIMS), Visakhapatnam. Online published on 11 May, 2012. Abstract Although, Micro Small and Medium Enterprises (MSMEs) are a major employment provider and contributor to GDP, they are burdened with the responsibility of providing employment while at the same time experiencing sluggish growth because of dwindling agricultural sector and globalization. MSMEs are characterized by flexibility, small scale, traditional technology, etc. The MSME sector targets both domestic as well global markets. Globalization opens a window of opportunities and threats for MSMEs. Government's programmes are unstructured and vague, and fall short of delivering the intended outputs. This necessitates the enterprise to think strategically by focusing on major issues. The success of an enterprise is embedded in gaining competitive advantage. This paper focuses on need for Strategic management implementation which drives MSMEs towards comparative advantage and challenges for implementation of Strategic management in MSME. Top Keywords Strategic Management, Micro Small and Medium Enterprises, Strategic Planning. Top |