This document presents guidelines for crafting successful business strategies. It defines strategy as determining long-term goals and adopting actions to achieve those goals. Strategic management is defined as formulating, implementing, evaluating, and controlling strategies to realize organizational goals. The document states that in a global business environment, strategic thinking is required and good corporate strategies allow companies to be competitively strategic. It provides that a strategy states how an organization will achieve its mission and objectives.

1. UNIVERSITY OF MYSORE,MANASAGANGOTRI
DOS IN COMMERCE
SUB: STRATEGIC MANAGEMENT
PRESENTATION ON
TOPIC: GUIDELINES FOR CREAFTING
SUCCESSFUL BUSINESS STRATEGIES

2. SUBMITTED BY:
SUSHMITA R GOPINATH
1ST Mcom “B”
SUBMITTED TO:
NIKHILAVATHI MAM
RESEARCH SCHOLAR
DOS IN COMMERCE,
MANASAGANGOTRI

3. CONTENTS
 Introduction
 Meaning and definition of strategy
 Meaning and definition of strategic management
 What are the guidelines for crafting successful
business decisions?
 Conclusion
 References

4. INTRODUCTION
 Increasingly, strategic management has become
crucial in the world of business and the ever
uncertain environment and fast changing world in
which we live and work. Its all about identification
and description of the strategies that managers can
carry so as to achieve better performance and a
competitive advantage for their organization. It is
applicable to both small as well as large
organizations as even the smallest organization face
competition and, by formulating and implementing
appropriate strategies, they can attain sustainable
competitive advantage.

5. DEFINITION OF STRATEGY
“Strategy is the determination of the basic
long-term goals & objectives of an enterprise
& the adoption of the course of action and
the allocation of the resources necessary for
carrying out these goals”- Alfred D Chandeler
MEANING OF STRATEGY
Action plan to achieve desired business objectives.

7. DEFINITION OF STRATEGIC MANAGEMENT
 According to Pearson and Robbinson,” Strategic
management is the set of decisions and actions
resulting in the formulation and implementation of
plans designed to achieve a company’s objectives”.
MEANING OF STRATEGIC MANAGEMENT
Strategic management is the dynamic process of
formulation, implementation evaluation and
control of strategies to realize organization
strategic intent.

8. WHATARE THE GUIDELINES
FOR CRAFTING SUCCESSFUL
BUSINESS DECISIONS?

14. In the globalized business, companies require strategic
thinking and only by evolving good corporate strategies can
they become strategically competitive. A strategy of a business
organization is a comprehensive master plan stating how the
organization will achieve its mission and objectives. Strategy is
significant because it is universal. It helps corporate to keep
pace with changing environs, provides better understanding of
external environment, minimizes competitive disadvantage by
forcing to think clearly about mission, vision and objectives of
enterprise. It improves motivation of employees and
strengthens decision-making. It forms the basis for
implementing actions.
CONCLUSION

15. REFERENCES
 https://www.slideshare.net/wpm999/13-
commandments-for-crafting-successful-
business-strategies
 https://www.academia.edu/29107126/Ten_Co
mmandments_of_Crafting_The_Successful_
Business_Strategy_a_Review
 https://opentextbc.ca/strategicmanagement/
chapter