Strategic management is the branch of management which focuses on
formulating and implementing the goals and initiatives taken by the
managers of an organization on the behalf of the stakeholders. This
encompasses a thorough assessment of the external and internal
environment of the enterprise. Some of the important strategic
frameworks studied under this discipline are SWOT analysis, experience
curve, competitive advantage, value chain, core competence and
interorganizational relationships. Strategic management aims to provide
direction to an organization by specifying its objectives, and
developing policies and plans for achieving those objectives. It also
focuses on resource allocation for successful realization of goals. This
book attempts to understand the multiple branches that fall under the
discipline of strategic management and how such concepts have practical
applications. It studies, analyses and uphold the pillars of strategic
management and its utmost significance in modern times. This book is a
complete source of knowledge on the present status of this important
field