Strategic Management

Topics: Strategic management / Pages: 56 (13800 words) / Published: Mar 15th, 2013
Strategic Management
SUPER SUMMARY
Written by: Bhavin Pathak
(Student, CA-IPCC, Arihant Institute Pvt. Ltd.) Features:
       Full coverage of IMP aspects of Strategic Management Summarized and conceptual Based on Study Material of ICAI Easy to remember format Point-to-point approach towards subject Diagrams and charts given wherever required Useful for LMR (Last Minute Revision)

1 STRATEGIC MANAGEMENT

INDEX 1. 2. 3. 4. 5. 6. 7. TOPIC Business Environment Business Policy & Strategic Management Strategic Analysis Strategic Planning Formulation of Functional Strategy Strategic Implementation & Control Reaching Strategic Edge PAGE NO. 2 9 14 17 24 30 36

Rules of My Life: “Don't use anyone, but being useful for everyone.” “There is no tax on helping each other.” “Live for other is more joyful rather than live for yourself.” “If you light a lamp for somebody, it will also brighten your path.” “Happiness is a by-product of an effort to make someone else happy.”  – Me

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- Written by Bhavin Pathak

Written by Bhavin Pathak Ph. No.: 8000054359

Visit me at: http://bhavinpathak.caclubindia.com Send me your suggestion on: bkp1992@gmail.com

2 STRATEGIC MANAGEMENT

Chapter 1: Business Environment
What is business?  Etymologically the term business refers to the state of being busy for an individual, group, organization or society.  Business can be any activity consisting of purchase, sale, manufacture, processing, and/or marketing of products and/or services. What are the objectives of a business?  Survival:  Basic, implicit objective of most organizations.  Survival of the fittest. Business and other enterprises are interested in more than mere survival.  Stability:  It is a strategy of least resistance in a hostile external environment.  Minimizes managerial tensions and demands less dynamism from managers.  Growth:  Promising and popular objective.  May take the enterprise along relatively unknown and

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