This book presents a comprehensive and structured exposition of strategic management, integrating classical theories with contemporary practices to equip students, researchers, and practitioners with a robust understanding of organizational strategy in a dynamic business environment. The content systematically progresses from foundational concepts of strategy and business policy to advanced applications in corporate appraisal, environmental analysis, implementation, and strategic control.
Chapter One establishes the conceptual foundations of strategic management by explaining the meaning, scope, and significance of strategy and policy, while emphasizing vision, mission, objectives, corporate governance, and social responsibility as essential elements of sustainable organizations. Chapter Two focuses on corporate appraisal and strategic choices, introducing analytical techniques such as benchmarking and the balanced scorecard, and examining growth and operative strategies that enhance competitive positioning. Chapter Three explores environmental scanning and scenario planning using tools such as SWOT, TOWS, PEST, and industry analysis to help organizations anticipate uncertainty and build long-term resilience. Chapter Four addresses the practical challenges of strategy implementation, highlighting organizational structure, leadership, corporate culture, systems, and functional integration through models such as McKinsey’s 7S framework. Chapter Five concludes with strategy evaluation and control, detailing performance measurement techniques, strategic and operational controls, and corrective mechanisms for continuous improvement.