Dear Students we are going to see strategic management right one of your papers and theory in IPCC right now this strategic management is journey of business towards perfection and efficiency now the chapters we are going cover now are Business Environment, Business Policy and Strategic Management, Strategic Analysis, Strategic Planning, Formation of Functional Strategy, Strategy Implementation and Control, Reaching Strategic Edge so these are the seven chapters that cover in SM, now let’s see something about pattern of SM it’s for 50 marks as everyone is aware of. Section B covers this paper answer is separate yes booklet question number A that’s our first question in this subject, which is compulsory for 15 marks right and how it is 5 questions each 3 marks, answer any 5 questions from the rest 6 and 7 marks right and 5 questions gives you 35 so totally 50 Maximum 4 mark minimum 1 mark.

Now let see business environment our first chapter. So children’s we see definition of business given by B. O. Wheeler now “Business is an institution which is perfectly organized and operated corrected, proper arrangements are made for doing business to provide goods and services to society under the incentive of private personal gain this what the wheeler said about the business.

Now see what Lui Haney said business is a human activity directed towards producing and acquiring wealth through buying and selling that means buy karo sell karo and you gain that is business now meaning of business is different for different people right let us understand Entity view->Company Corporation and few for few people it is process buying up selling products and few others its like profession or an occupation now according to peter drucker’s What is business which is created by and managed by all of us group of peoples they take designs and that design ha an some of the other result or outcome of the entire business. true for each and every business. its not only profit it includes development of wealth, goodwill, societal factors, relations etc. and much much more that is business according to Peter Deuckers. right kids, now lets see the objective, basic objective kya hai.