Synopsis Globalization of Indian economy has resulted in increased business opportunities both for Indian businessman in the foreign markets and foreign sellers in Indian market. The competition in all categories of products i.e. consumer goods and industrial goods has increased in the Indian as well as in foreign markets. To the businessman of any country, the competition has become stiff both in their domestic and outside markets. The Indian markets have thus required to meet the increasing business challenges from their other Indian counterparts as well as from the MNC of developed countries who are entering Indian markets with quality and international branded products. On the other hand consumers in India have become aware of availability and quality of the products being available in Indian domestic market. This may be due to higher level of education, increased infrastructure facilities resulting in increased interaction with outside world. These developments need different type of business strategies that can create competitive advantage in the market for that organization. It is well recognized saying that if any organization performs in the competitive market, it should always wish to be No. One (1). Any organization which thinks of to be No. Two (2) will never attain a leading position in such a market rather survival will be threatened. It is therefore necessary for the business organization to develop the strategies, which would provide them competitive advantage in the existing dynamic markets in Indian and at international level. Creating competitive advantage is a need of today and developing strategies to create this advantage is must for any organization. The present edition of the book contains various issues related to strategic management and attaining competitive advantage through management practices, and using information technology. The book is an outcome of various research contributions of eminent researchers and academicians in and around the country.