Strategic management is important in the 21st century landscape because it directs the organization to achieve its business goal.

As in this era the nature of competition is different, so strategic management helps management to take right decision to compete in the uncertain environment. To take challenge from globalization: to maintain higher performance standard in quality, cost or efficiency or to seek best people from anywhere, strategic management practice is crucial. To meet technological change: Organization should follow a distinctive strategy so that disruptive technologies cannot destroy organizations own technology.

Without vision and mission no firm will be succeed because the vision and mission statement is very important of an enterprise. The vision statement describes the ultimate goal of the enterprise. It helps organizations top management to take decision and actions which leads organization as successful one. The mission statement describes enterprises fundamental purposes and it emphasis what is important for organization and where and how it should serve its services etc. Mission is more concrete than vision and answers the question why.