In the ever-changing global environment, dynamic socio economic parameters have generated a lot of uncertainties and have increased the pressure of competition in modern day business. This necessitates that the Indian business barons review and redefine operational aspects of modern day business in broader, deeper and more comprehensive global terms. With this backdrop, this volume is a collection of select papers presented at National Seminar on Management in the New Global Order Quest for Excellence held on 24th and 25th February, 2006 at the ISM University, Dhanbad. It covers vital issues on five functional areas of management, e.g. general, operations, finance, IT and systems, and marketing. This edited volume will provide management and business professionals and other stakeholders with some guidelines in successfully meeting international challenges and in restructuring the business objectives and goals to align with ever-changing dynamics of modern day business.