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The overwhelming response from students and faculty members to the first edition of “Business Policy and Strategic Management” has pushed me to the Second edition. A new reading material “Corporate Social Responsibility and Performance: A Case of Canara Bank” has been include at the end of third chapter. A Case of Tata Refractories Ltd. And several Indian companies which have turned global specialists in turnaround are incorporated along with the 13th Chapter. Four new cases on Indian Railway, Vaigai Oils Ltd., Aravind Eye Hospital and Infosys are included in this edition in response in response to the requests from a section of faculty members. The latest question paper on Strategic Management of Anna University is included at the end for the benefit of students. Contents : 1. The strategic Management 2. Mission and Goals 3. Corporate Government and Social Responsibility 4. External Environment 5. Porter’s Five Forces Model and Strategic Groups 6. Competitive Advantage: Resource, Capabilities and Core Competencies 7. Internal Scanning: Organizational Analysis 8. Strategy Formulation: Situation Analysis 9. Strategy Formulation: Corporate strategy 10. Strategy Formulation: At the business Level 11. Strategy Formulation: Functional Strategy 12. Strategy in Global Environment 13. Building and Restructuring the Corporation 14. Strategy Choice and Balanced Scorecard 15. Implementation of Strategy: Designing Organizational Structure to Strategy 16. Designing Strategic Control System: Matching Control and Structure to Strategy 17. Matching Structure and Control to Strategic 18. Implementation of Strategic Change: Politics, Power and Change 19. Techniques of Strategic Evolution and Control 20. Strategic Issues in Managing Technology and Innovation 21. Strategic Issues in Entrepreneurial Ventures and Small Businesses 22. Strategic Issues in Not-for-profit Organization Cases Case Study – What it is? Illustrative Case – Robinhood Canara Bank Coffee Board in Liberalized ERA ITC LTD. PSPD-UNIT KOVAI A Case Study of Indian Railways Vaigai Oils Infosys and Narayana Murthy Dr. Venkatasamy of Aravind Eye Hospital