This paper examined dynamic capabilities and strategic management in organization. However, it is presumed that entrepreneurs in most organizations do not understanding what constitute dynamic resources, others do not know that they own them (resources) as well as the inability of discerning rivals in the market place nor do they have the capacity to deploy their unique resources at the appropriate time. The objective of this study is to examine dynamic capabilities and strategic management in organizations and to provide suggestions for improvement. A survey of literature disclosed that dynamic capabilities are unique resources that are valuable, rare, imitable, organized and useful: tangible and intangible assets essentially required for building competitive advantage over competitors. However, it was further stressed that these unique resources are not economic resources because they are organization specific since they are valuable to only the organization that uses them and have no external value. It was recommended that these resources be innovatively combined or strategically integrated, built, configured and deployed or implemented where necessary and in adequate measure in order to achieve and maintain superiority over rival organizations.