战略管理是企业的长期可持续性相关，旨在不断提高企业在市场中的位置（Hitt et al.。2012）。每一件产品和服务都有保质期，几年后，当一些新发现或新发明取代它时，它就过时了。因此，为了在市场中维持持续时间最长的一段时间，重要的是企业必须不断地自我更新，并为此而努力，公司必须采取一些核心的战略管理理论来探索新的机遇和新市场。公司必须确保业务不呆在一个地方和停滞（Hitt，et al.。2012）。进步和发展需要不断的运动使他们继续前进。现在的竞争也很激烈，为了战胜竞争，保持领先地位，战略管理起着非常重要的作用。另一方面，企业创业意味着从现有的产品和服务范围中识别和创造新的渠道的过程。它还涉及到新的创新过程。在这个竞争激烈的世界里，企业创业是每一种商业机构战略管理的重要组成部分。
Strategic management is important for the entrepreneurship and every entrepreneur take conscious decision to apply various efficient methods of strategic management and also models that lead the business towards various important business opportunities and also help the organisation to react in manner which shows some strategic thinking (Freeman 2010). For example, the actions of the any business when are in tune with the goals and objective of the business than it is clear that the business is on path of success and achievement.
Strategic management is related to long term sustainability of the business and it aims at constantly improving the position of the business in the market (Hitt et al. 2012). Every product and service has a shelf life and it goes obsolete after few years when some new discovery or invention replaces it. Therefore, to sustain in the market for the longest period of time it is important that business keep re-inventing themselves and to do so, the company have to adopted some hard core strategic management theories to explore new opportunities and new market. The company have to make sure that the business does not stay at one place and be stagnant (Hitt, et al. 2012). Progress and development need constant movement that keep them going. Competition is also very strong these days and in order to beat the competition and stay ahead strategic management plays a very important role. Corporate entrepreneurship on the other hand means the procedure to identify and create new avenues from the existing range of products and services. It is also related to bringing new innovation process. In this world of cut throat competition corporate entrepreneurship is a crucial part of strategic management for every type of business establishment.