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1. Definition.
2. Classes of Decisions.
3. Levels of Decisions.
4. Strategy.
5. Role of different Strategists.
6. Relevance of Strategic Management.
7. Benefits.
8. Strategic Management in India.

Strategic Management - Syllabus

As defined by Christensen: “Business Policy is the study of the function and responsibilities of Senior Management, the crucial problems that affect success in the total enterprise, and the decisions that determine the directions of the organisation and shape of its future.

1. The problems of policy in the business, like those of policy in public affairs, have to do with choice of purposes, the moulding of organisational identity and character, the continuous definition of what needs to be done, and the mobilisation of resources for the attainment of organisational Goals in the face of competition or adverse circumstance

Business Policy - Definition

9. 1900 -1930: Era of Mass Production – Maximising output, 10. Normally a Single Product, Standardised and low cost product, catering to unique set of customers servicing limited geographical area – Informal control and co-ordination. The Strategic planning was centred on maximising output.

Paradigm One: Ad-hoc Policy

2. 1930-1940:Changes in Technology, Turbulence in Political environment, Emergence of new industries, Demand for novelty products even at higher costs, Product Differentiation, Market segmentation in increasingly competitive and changing markets. These all made investment decisions increasingly difficult. This was era of integrating all functional areas and framing policies...