Imagine yourself in the position of first Dhanajay (Arjun) in the battlefield of Mahabharat. How will you decide for selecting target to kill? In one hand he may require optimizing his scarce resources so that the top most opponents can be killed and on the other hand emotionally disturbed that those top most are his own. Strategic management's approach to decision making is to build set of alternatives and then to choose the best one. the same idea can be seen economics for economic agent's decision such as maximizing their utility subject to budget constraint. What may have been his alternatives: 1. Win the war by exhausting opponent thereby avoiding killing top most this alternative is inefficient as it cost more lives and there is less chance of winning 2. Kill top most thereby shortening war time and wastage of resources but it requires absolute courage may be total blindness of every sense this alternative is efficient but difficult to attain and the cost is emotional ...