Strategic Management.pdf

P ROFESSIONAL C OMPETENCE C OURSE

S TUDY M ATERIAL

STRATEGIC

MANAGEMENT

Management

BOARD OF STUDIES

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

P APER 6B

Strategic

This study material has been prepared by the faculty of the Board of Studies. The

objective of the study material is to provide teaching material to the students to enable

them to obtain knowledge and skills in the subject. Students should also supplement their

study by reference to the recommended text books. In case students need any

clarifications or have any suggestions to make for further improvement of the material

contained herein, they may write to the Director of Studies.

All care has been taken to provide interpretations and discussions in a manner useful for

the students. However, the study material has not been specifically discussed by the

Council of the Institute or any of its Committees and the views expressed herein may not

be taken to necessarily represent the views of the Council or any of its Committees.

Permission of the Institute is essential for reproduction of any portion of this material.

or transmitted, in any form, or by any means, electronic, mechanical, photocopying,

recording, or otherwise, without prior permission, in writing, from the publisher.

Website : www.icai.org E-mail : bosnoida@icai.org

Published by Dr. T.P. Ghosh, Director of Studies, ICAI, C-1, Sector-1, NOIDA-201301

Typeset and designed at Board of Studies, The Institute of Chartered Accountants of India.

Printed at VPS Engineering Impex Pvt. Ltd. Phase – II Noida. August, 2006, 25,000 copies

PREFACE

The Paper 6 of Professional Competence Course is divided into two sections viz. Information

Technology and Strategic Management. This book has been prepared to help in learning of

section B of the Paper – Strategic Management. Information technology and strategic

Management are as such two different subjects with different focus. In the examinations also

students shall be using separate answer books to attempt different sections. However, at the

same time there are some commonalities between the two subjects. Strategic management of

information technology in business organizations is an emerging area that requires altogether

different managerial skills to handle. Managing information technology is an important aspect

that assists in gaining competitive advantage and entails integration of the two subjects. There

are two broad issues that emerges. They are (a) strategic management of information

technology and (b) using information technology in strategic management. These two issues

are not sought to be covered in the study material except for a few inklings here and there. For

our purpose, considering that the objective is to provide working knowledge, they shall remain

entirely different subjects.

Strategic management is important for Chartered Accountants. With the changing scope of the

Chartered Accountancy profession and the multifarious nature of the work profile of

professionals the students need to learn newer and different concepts and acquire

multidimensional skills. With this focus the subject of Strategic Management in chartered

accountancy is included in the education and training. Chartered Accountants reaching high in

the corporate ladder also need to be sound in the concepts and principles of strategic

management.

As a student of Chartered Accountancy course, you must be keenly going through financial

newspapers, reading, inter alia, about mergers, acquisitions, divestments and corporate

successes or failures. An inquisitive mind will have several questions. How does a company

become successful? How a company remains at the top? How a company identifies its

potential and is able to deliver its best? How an organisation is able to cope up and gain

command over the dynamic and turbulent environment? Answers to these simple questions

are really difficult. The turbulence in the environment forces business organisations to find

newer ways to function. Business organisations to perform and excel need a clearer sense of

strategic vision and improved understanding of a rapidly changing environment. They need to

strategically manage their enterprises. It is interesting to see that businesses compete by

selling products that are similar in nature to the same group of customers. They differentiate

their products in order to sell. Business organisations that are able to exploit some form of

advantage are more profitable than their rivals. With the help of this self-study material on

Plik z chomika:

Inne pliki z tego folderu:

Inne foldery tego chomika: