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This is the second part of an article discussing the introduction of the concept of strategy in industry and various aspects of industrial strategy, environmental factors and their dynamism in a social setting is emphasized in this article. An understanding of economic - industrial dynamics by management prior to strategy formulation and their awareness of the environmental production potential is recognized as a pre-requisite to success. Two dimensions in industrial strategy has been
emphasized through out, which are:
1- total industrial climate with all it’s characteristics
2- transformations in the industrial texture of a
social setting.