Strategic change is the movement of a company away from its present state toward
some desired future state to increase its competitive advantage and profitability.
Inthe last decade, most large Fortune 500 companies have gone through some kind of
strategic change as their managers have tried to strengthen their existing core competencies and build new ones to compete more effectively. Often, because of drastic
unexpected changes in the environment, such as the emergence of aggressive new
competitors or technological breakthroughs, strategic managers need to develop a
new strategy and structure to raise the level of their business’s performance.