This book consists of four parts. The first part consists of Chapter 1, which introduces the topic of this book and strategic management, and Chapter 2, which discusses the application of strategic management in the context of the international hospitality and tourism industry. In particular, Chapter 1 opens the scene by providing a brief discussion on the historical origins of strategy, the writings of classic authors, the industrial organization model, and the resource-based view. It further discusses assumptions of dominant strategic management approaches. Based on these discussions, key terms such as strategy and strategic management are introduced.