Textbooks of Economics used to identify land, labour and                                                                                              
capital as the three factors of production. A fourth factor                                                                                           
namely, management, has achieved equal rank in recent                                                                                                 
times.                                                                                                                                                
                                                                                                                                                      
Today's business environment, whether local or global,                                                                                                
presents challenges and opportunities that did not exist in                                                                                           
past decades. That is the consensus of the experts.                                                                                                   
                                                                                                                                                      
Managers have to be prepared for constant change and a                                                                                                
greater pace of competition all around them. In this                                                                                                  
environment it is hardly a surprise that strategic                                                                                                    
management has secured a premier place in all business                                                                                                
school programmes.                                                                                                                                    
                                                                                                                                                      
This book is published by the Malaysian Institute of                                                                                                  
Management (MIM), an acknowledged leader in the field of                                                                                              
corporate management studies and research.                                                                                                            
                                                                                                                                                      
Over a span of 36 years MIM has built up a good reputation                                                                                            
through its seminars, professional courses and                                                                                                        
publications.                                                                                                                                         
                                                                                                                                                      
Lim Yu Book, the author, had a distinguished track record                                                                                             
in the private sector. He is a professional engineer and                                                                                              
holds a Master of Management degree (with distinction) from                                                                                           
the Asian Institute of Management. He has held senior                                                                                                 
positions in well-Known companies and was course leader in                                                                                            
Strategic Management at the MIM.                                                                                                                      
                                                                                                                                                      
Dr Tarcisius Chin in his foreword asserts that the concept                                                                                            
of strategy "may" still be shrouded in mystique but it has                                                                                            
to be applied to all manner of business situations.                                                                                                   
                                                                                                                                                      
The lay-person tends to associate "strategy" with the                                                                                                 
planning and execution of military operations. In                                                                                                     
creasingly. the corporate sector is tapping ideas and                                                                                                 
principles from the classics of military strategy, both                                                                                               
ancient and modern.                                                                                                                                   
                                                                                                                                                      
The author cites several examples from SunWu (or Sun Tzu)                                                                                             
as well as Karl Clause witz. Machiavelli is Usually linked                                                                                            
with diplomacy and realism in power politics but Antony Jay                                                                                           
some years ago convincingly demonstrated that Machiavelli's                                                                                           
observations on men and their motives are helpful for a                                                                                               
better understanding of corporate management and decision-                                                                                            
making processes.                                                                                                                                     
                                                                                                                                                      
The author has rightly criticised the popular fallacy that                                                                                            
Machiavelli approved and advocated the unprincipled conduct                                                                                           
of politics. Machiavelli has been probably "more sinned                                                                                               
against than sinning".                                                                                                                                
                                                                                                                                                      
The perceptive Italian was simply describing human be                                                                                                 
haviour as it has always been, and executives cannot afford                                                                                           
to ignore his observations.                                                                                                                           
                                                                                                                                                      
Volumes on every conceivable aspect of management are                                                                                                 
available in our book stores. Most of them deal with the                                                                                              
Western or Japanese corporate traditions which may not                                                                                                
always be applicable to the Southeast Asian milieu.                                                                                                   
                                                                                                                                                      
The author has emphasised the influence of sociocultural                                                                                              
values and family loyalties which are features of business                                                                                            
enterprises in some countries.                                                                                                                        
                                                                                                                                                      
Copious examples and illustrations have been included to                                                                                              
enliven the exposition of management theories and concepts.                                                                                           
                                                                                                                                                      
Individual achievement and methodology in dealing with a                                                                                              
variety of political, economic and social problems provide                                                                                            
material for case studies and tutorials that management                                                                                               
gurus and lecturers may want to introduce in their classes.                                                                                           
                                                                                                                                                      
A number of the decisions, victories and failures of local                                                                                            
captains of industry are presented with the author's frank                                                                                            
comments. Although they are unfolded through anecdotes                                                                                                
rather than formal case studies they provide good insights                                                                                            
into the Malaysian corporate world.                                                                                                                   
                                                                                                                                                      
The issue of business ethics has been discussed in a short                                                                                            
chapter, and there are subtle suggestions that even if                                                                                                
there may be some temporary gains, in the long run                                                                                                    
unethical and illegal practices will not pay. This aspect                                                                                             
is of course vital now that the notion of good corporate                                                                                              
governance is receiving wide attention.                                                                                                               
                                                                                                                                                      
Towards the end of the book the reader will be aware that                                                                                             
there is no single strategy that can be adopted for                                                                                                   
efficient management. Rather there is a whole cluster of                                                                                              
strategies.                                                                                                                                           
                                                                                                                                                      
The most appropriate or what appears to be the most                                                                                                   
appropriate strategy in the prevailing circumstances must                                                                                             
be selected.                                                                                                                                          
                                                                                                                                                      
In discussing the role of mission statements the author                                                                                               
advances some incisive comments.                                                                                                                      
                                                                                                                                                      
He shows that reliance on sheer rhetoric without a true                                                                                               
commitment to excellence and high standards will not be an                                                                                            
asset to any company                                                                                                                                  
                                                                                                                                                      
This is a reader-friendly book. The author has used simple                                                                                            
English throughout. There are easy-to-follow flow charts,                                                                                             
graphs and piecharts in some chapters. The list of books                                                                                              
and journals at the end provides adequat6 guidance for                                                                                                
follow-up reading and study.