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This book discusses the crucial role of strategic management in leveraging technology, digitalisation, smart manufacturing, and globalisation to gain a competitive advantage in today's dynamic market. It highlights how companies vie not just for resources and capabilities but also for innovative ideas and market presence to ensure sustainable growth. The narrative underscores the creation of strategic assets and intents, positioning firms as industry leaders and setting new standards of excellence across global markets. This book is designed for students enrolled in Strategic Management courses, whether in management programs or specialised strategic management courses, and professionals seeking to deepen their understanding of strategic management principles and applications. The Present Publication is the 2nd Edition, authored by N. Chandrasekaran and P.S. Ananthanarayanan. The noteworthy features of the book are as follows: (i) [Integration of Global and Indian Business Context] The book presents an in-depth look into the strategic management practices that have shaped successful international and Indian companies, emphasising the creation of intangible and physical assets in competitive markets (ii) [Evolution of Strategic Management] It traces the development of strategic management from various perspectives, including Long Range Planning, Business Policy, and Corporate Planning, to its current significance in ensuring sustainable growth in a fluctuating business environment (iii) [Comprehensive Approach] The text presents a holistic view of strategic management, covering the spectrum from strategic planning to execution. It addresses the challenges of global mergers, market entries, and technological advancements, highlighting their impact on corporate strategies and host countries (iv) [Practical Insights and Indian Ethos] Through exhibits, case studies, and examples, the book reflects the Indian managerial scenario and ethos, offering a unique perspective on globalisation and strategic management (v) [For a Diverse Audience] Aimed at management students, practising managers, and professionals across sectors, this book elucidates concepts, tools, and techniques of strategic management, making them relatable to real-life business situations (vi) [Structured Learning Experience] Each chapter begins with clear learning objectives and unfolds systematically, blending theory with practical applications. Illustrations, examples from real life or industry, and case studies for classroom discussion are included to enrich the learning experience The detailed contents of the book are as follows: (i) Chapter 1 – Introduction to Strategic Management (a) Case Study – Indian Oil Corporation Ltd. & Bharti Airtel (b) Sub-Topics: (1) Introduction to Management and Strategy (2) Evolution of Strategic Management (3) Schools of Thought (4) Relevance of Strategic Management for an Organization (5) The Strategic Management Process (c) Others – Summary, Keywords, Review Questions, Project Assignments (ii) Chapter 2 – Vision, Mission, Goals, and Objectives (a) Case Study – National Thermal Power Corporation, Procter & Gamble Hygiene and Health Care Limited (b) Sub-Topics: (1) Developing Vision and Mission Statements (2) Situational Analysis (SWOT, TOWS) (3) Defining Organisational Goals and Objectives (c) Others – Summary, Keywords, Review Questions, Project Assignments (iii) Chapter 3 – Environment and Strategy (a) Case Study – EID Parry India Ltd & Ashok Leyland (b) Sub-Topics: (1) Organisational Environment (2) External and Political Environment (3) Economic, Technological, Sociocultural Environments (4) Environmental Scanning (c) Others – Summary, Keywords, Review Questions, Project Assignments (iv) Chapter 4: Strategic Analysis: Models and Techniques (a) Case Study – ABC Consumer Products Ltd, Sachin's Dilemma (b) Sub-Topics: (1) Forecasting, Strategic, and Financial Models (2) Decision Support Models (3) Porter's Five Forces Theory (4) Strategic Choice (c) Others – Summary, Keywords, Review Questions, Project Assignments (v) Chapter 5 – Corporate Strategy (a) Case Study – Berger Paints in India & RBI's Role in Oriental Bank of Commerce's Merger with Global Trust Bank (b) Sub-Topics: (1) Importance and Levels of Corporate Strategy (2) Performance Strategy (c) Others – Summary, Keywords, Review Questions, Project Assignments (vi) Chapter 6 – Fusion of Strategic Options (a) Case Study – Tata Starbucks Ltd & The Merger of Sony and Zee (b) Sub-Topics: (1) Corporate Parenting, Restructuring (2) Business Process Reengineering (3) Joint Ventures, Strategic Alliances (4) Mergers and Acquisitions (c) Others – Summary, Keywords, Review Questions, Project Assignments (vii) Chapter 7 – Strategic Formulation (a) Case Study – Tata Chemicals & Walmart (b) Sub-Topics: (1) Making Strategic Choice (2) Strategy Formulation and Choice (3) Tools and Techniques for Strategy Formulation (c) Others – Summary, Keywords, Review Questions, Project Assignments (viii) Chapter 8 – Strategy Implementation (a) Case Study – Jio Mart & Sundaram Clayton (b) Sub-Topics: (1) Nature and Models of Strategic Implementation (2) Business Process Reengineering and Management (3) Benchmarking, Reverse Engineering, Implementing Kaizen (c) Others – Summary, Keywords, Review Questions, Project Assignments (ix) Chapter 9 – Ethics, Social Responsibility, and Corporate Governance (a) Case Study – Big Corporate Scandals, GNFC, Corporate Governance & CSR with Marico (b) Sub-Topics: (1) Business Ethics Across Functions (2) Corporate Social Responsibility (CSR) (3) Corporate Governance (c) Others – Summary, Keywords, Review Questions, Project Assignments (x) Chapter 10 – Evaluation and Control (a) Case Study – Reliance Natural Resources Limited, Shipping Corporation of India (b) Sub-Topics: (1) Evaluation and Control Processes (2) Barriers to Evaluation (3) Tools for Evaluation and Control (c) Others – Summary, Keywords, Review Questions, Project Assignments (xi) Chapter 11 – Applications of Strategic Cost Management (a) Case Study – Alok Industries Limited & ASM Textiles Ltd (b) Sub-Topics: (1) Strategic Cost Management Program (2) Tools of Strategic Cost Management (c) Others – Summary, Keywords, Review Questions, Project Assignments (xii) Chapter 12 – Risk Management (a) Case Study – COVID-19 Impact on Global Business & Amazon (b) Sub-Topics: (1) Impact of Uncertainty and Risk (2) Risk Identification and Classification (3) Risk Assessment and Management Techniques (c) Others – Summary, Keywords, Review Questions, Project Assignments (xiii) Chapter 13 – Corporate Risk Management (a) Case Study – Pharmaceutical Companies Post-Pandemic, Lehman Brothers, LVB (b) Sub-Topics: (1) Relationship Between Risk and Strategy (2) Types of Corporate Risk (c) Others – Summary, Keywords, Review Questions, Project Assignments (xiv) Chapter 14 – A Guide to Case Analysis (a) Sub-Topics: (1) The Case Method of Learning in Strategic Management (2) Significance of Case Method (3) Case Description (4) Procedure for Analysing the Cases (5) Approaches to Different Formats of Case Solution (b) Others – Financial Analysis, Financial Statements & Key Focus Aspects for Designing a Solution to a Strategy Case (xv) Additional Cases (a) Case Study (1) India's Castings and Forging Industry (2) The Chennai Venus Hotel (3) S&S Inc (4) Gujarat Engineering Company Ltd (5) Golden Machine Works (6) The Merger of Allahabad Bank and Indian Bank (7) Goodwill Logistics (8) Jubilant Food Works (9) Silicon Valley Bank (10) Professional Service Firm