This paper is intended to demonstrate the significance of strategic management, as a distinctive phenomenon in the intermediate organizations more than it is assumed in the theory of strategic management. One of the recent developments in the eld of strategic management is redenition in order to include the study of cognitive, economic, social and cultural aspects into its context. As a result, the inclusion of greater importance of the resource situation and other aspects, which are contextually-dependent, have evolved in the theoretical focus of planning and adaptation. The strategic management also includes the human perspective that determines an organization’s strategic abilities. The theoretical explanation includes as a subject, the concepts of foreign relations. The technological development, infrastructural changes and disintegration of the organization has led to constant reconceptualization of the strategic approaches like targets, technical expertise, markets, organizational environment and its size. In this paper, the light has been thrown on some new insights in this eld. In addition, it has been emphasized that the studies of strategic management also need to add-on with the conventional perspectives, along with variety of internal and external characteristics to ensure better understanding and awareness of the underlying organizational processes.