This research focused on strategic management techniques and how these techniques are applicable to small and medium enterprises. The use of generic or specific strategic management tools and techniques among small and medium size businesses has had insignificant value because strategic application are thought in terms of for only larger companies. This paper examined the benefits of using strategic tools and techniques to companies seeking profits and growth. This research also supports how strategy can improve performance of small and medium businesses. Qualitative research was used for this study to determine if there was a correlation between strategic management, market share, and profitability. Case studies were also examined to support any claims that small and medium size companies benefited from strategic management tools and techniques in their organization.