ABSTRACT
Fundamentally, strategic management is concerned with achieving sustainable competitive advantage. Thus, any organization must formulate strategic options for future development, evaluate them and choose those that the organization considers most likely to be successful. These issues are of fundamental importance in any industry, not just in the sectors of THE. However, the strategic options that are formulated to address these issues and the strategy developed to take the organization forward will vary according to the circumstances of the particular industry concerned. In other words, in formulating strategy, managers must consider the wider external environmental factors affecting organizations operating in the industry or parts of it. Some texts refer to these factors as the frame conditions.
