Whenever a firm thinks of adopting a new strategy either for expansion or introducing any new product or service in the market, it has to incorporate all the divisions of the firm into consideration, else the holistic approach will be largely missed out in the strategic decision. Strategic Management takes care of this aspect. Under purview of this domain, the entire firm is considered as a single unit, and the analysis starts with assessment of the external environment, which consists of competitors, vendors, possible industry entrants, and the industrial policies. Once assessed, based of the intended objective, action plans of concerned departments are finalized, and then the functionalities of other departments are streamlined with the same. This streamlining actually integrates all the departments along with the external environment of the firm. For more information about the scope of strategic management, kindly browse through the pages of www.sampledissertations.com.