MB0052– Strategic Management and Business Policy

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Master of Business Administration- MBA Semester 4

MB0052– Strategic Management and Business Policy - 4 Credits (Book ID: B1314)

Assignment (60 marks)

Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.

1-5 Question number 10 Marks (350-400 words)

Q1.Define the term “Strategic Management”. Explain the importance of strategic management.

Answer : Strategic management is a systematic approach of analyzing, planning and implementing the strategy in an organization to ensure a continued success. Strategic management is a long term procedure which helps the organization in achieving a long term goal and its overall responsibility lies with the general management team. It focuses on building a solid foundation that will be subsequently achieved by the combined efforts of each and every employee of the organization.

Importance of strategic management

Q2.Describe Porter’s five forces Model.          

Answer : Porter suggests that there are five basic competitive forces, which influence the state of competition in an industry. He calls the “structural determinants of the intensity of competition‟, which collectively determine the profit potential of the industry as a whole. Some industries have a bigger profit potential than others, since keener competition means lower profits. These five competitive forces are as follows:

Threat of New Entrants: A new entrant into an industry will bring extra capacity. The new entrant will have to make an investment to

                                                               

Q3.Define the term “Business policy”. Explain its importance.  

Answer : Business Policies

Business policies are the instructions laid by an organisation to manage its activities. It identifies the range within which the subordinates can take decisions in an organisation. It authorises the lower level management to resolve their issues and take decisions without consulting the top level management repeatedly. The limits within which the decisions are made are well defined.

                               

Q4.What, in brief, are the types of Strategic Alliances and the purpose of each? Supplement your answer with real life examples.          

Answer : Types of Strategic Alliances and Business Decisions

The mutual agreements between the organisations can take a number of forms and are increasing their common goals to get upper hand over their competitors.

The different types of strategic alliances are listed below:

Joint venture Joint venture is the most

                                                                                               

Q5.Explain the concept, need for and importance of a Decision Support System.

Answer : A Decision Support System (DSS) is a class of information systems (including but not limited to computerized systems) that support business and organizational decision-making activities. A properly designed DSS is an interactive software-based system intended to help decision makers compile useful information from a combination of raw data, documents, personal knowledge, or business models to identify and solve problems and make decisions.

Computerized decision support systems became practical with the development of minicomputers, timeshare operating systems and distributed computing. The history of the implementation of such systems begins in the mid-1960s. In a technology field as diverse as DSS, chronicling history is neither neat nor linear. Different people perceive the

 Q6.Write short notes on:

a) Corporate social responsibility

Answer : Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business)[1] is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms.CSR is a process with the aim to embrace responsibility for the company's

b) Business plan                                                                               5 + 5 = 10 Marks(200 - 250 words each)

Answer : A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

Business plans may also target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required,

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