Definition of terms

Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.

The strategic manager is the one who establishes an organisations long term direction set specific performance objectives, develop strategies to achieve the objectives in light of all relevant internal and external circumstances and s prepared to implement through the choose of action plan.

"parastatal organization'' means any body corporate established by or under any written law other than-
(a) a company incorporated or registered under the Companies Ordinance;
(b) the Community, the Corporations within the Community and bodies corporate established by or under any Act of the Community,
But includes any company the whole of the share capital of which is owned by the Government or any parastatal organization (including any such company).

Causes of parastatal organisation failure are as follows
Corruption.
Corruption is often a collusive arrangement between some officials in government and individuals in business who have little or no concern for the social, economic, environmental, political or human consequences of their actions. Such decisions are taken not for the public benefit but merely to serve personal interests.

Dishonest and fraudulent
The responsibilities have regard to reasonable expectations of lawfulness, honesty, and integrity on the part of workers, instead they seek to encourage