Kriti
Publication

Strategy is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution
to a problem. It is the art and science of planning and marshalling resources for their most efficient and
effective use. Strategic management is all about identification and description of the strategies that managers
can carry so as to achieve better performance and a competitive advantage for their organization. An
organization is said to have competitive advantage if its profitability is higher than the average profitability
for all companies in its industry. Strategic management gives a broader perspective to the employees of
an organization and they can better understand how their job fits into the entire organizational plan and
how it is co-related to other organizational members. Understanding of strategy and key aspect of strategic
management is highly essential for today’s successful managers. That is why I would like to welcome you
all to the world of Strategic Management. This book is primarily written according to the new curriculum
prescribed by Faculty of Management, T.U., for the students of MBS Fourth Semester. So, it covers the entire
curriculum in a simple and understandable language. Hence, I am confident that this book will prove very
useful to the students pursuing postgraduate degree in management. My aim is to provide students with a
relatively simple and clear introduction to the essentials of strategic management practices.
This book contains various categories of questions that will help students for appearing in examinations.
Some important cases are also given in all chapters. The cases will help the students to know the real work
life situation and they will facilitate the students to solve hypothetical problems.