Strategic management is built on the premise that managers make decisions that influence the overall success of their organizations. We concentrate on how the most effective managers create and maximize value for their stakeholders, competition to achieve high performance and market victories, and how and why some companies are successful while others are not. The Krannert full time MBA strategic management specialization or option area is built on the premise that managers make decisions that influence the overall success of their organizations. We concentrate on how top managers create and maximize value for their stakeholders, how companies compete against each other in the quest of achieving high performance and market victories, and how and why some companies are successful while others are not. The primary task of strategy is the allocation and commitment of critical resources over relatively long periods of time in pursuit of specific goals and objectives. Strategic decisions take account of the conditions that prevail within the industry environment, both favorable and unfavorable, and the resources and capabilities available to managers for meeting environmental challenges and opportunities. Strategy also involves the creation and management of internal systems that sustain value. While our perspective in strategic management is that of the general manager, the skills and knowledge of the general manager are relevant not only to those at the top of the organization, but also to those who head business units, as well as staff people and consultants who work with general managers. Whatever your position in an organization, you are likely to be more effective if you understand your organization's strategy. The strategic management specialization provides you with the opportunity to integrate your knowledge of the functional disciplines and develop an enterprise-wide perspective. In particular, it will help you prepare for an immediate or eventual position in general management, senior functional management, management consulting, or establishing a new business venture.