Intensified competition among domestic private and public sector companies and multinational companies consequent upon globalization along with strides in information technology brought paradigm shifts in the concepts of Strategic Management. In fact, principles of strategic management took a completely a new direction. The overwhelming response from the students, Lecturers, Professors and heads of various Business Schools of various universities in India, Papua New Guinea and other countries to my various books, viz., Management and Organisational Behavioural, Business Policy and Strategic Management, Strategic Management (JNTU), International Business, Essentials of Human Resource Management and Personnel and Human Resource Management prompted me to write a separate book on `Strategic Management`. In fact, we bring a customized book for Jawaharlal Nehru Technological university, based on its syllabus.