Impact of Strategic Management Applications: The Way-Forward for Small and Medium Scale Enterprise in Africa

The use of strategic management in various businesses has been proved to a significant step worth to be taken. However, there are challenges or difficulties that some businesses find in formulating and implementing strategies. SMEs are very common in African societies and have a lot of contribution to the economic development in most of the nations in Africa. For effective operation and relevance of these businesses, there is need to adopt strategic management in SMEs. In this paper, the importance of strategic management in small and medium-sized enterprises in Africa is discussed. The paper also focuses on the impacts of strategic management in SMEs.