BBA202 – BUSINESS STRATEGY

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ASSIGNMENT

DRIVE FALL	2013
PROGRAM	BBA
SUBJECT CODE & NAME	BBA 202 – BUSINESS STRATEGY
SEMESTER	2
BK ID	B1519
CREDITS	2
MARKS	30

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q.1 Explain the various factors influencing the business policy of a firm .

Ans : Internal factors or Internal environment :

1. Personnel:

No matter what policies and procedures you implement to build a strong organization, people must manage them. The most critical internal factor that affects how your business performs is your people. Create a long-term organization chart to help you build the most efficient staff.

2. Accounting:

Many of the decisions you make regarding your business depend on accurate financial reports to guide you. Even if your accountant is accurate, if you have limited data, such as from an annual budget, general ledger or bank statements, you won’t

Q.2 What are the various steps involved in strategy formulation?

Ans :  It is useful to consider strategy formulation as part of a strategic management process that comprises three phases:  diagnosis, formulation, and implementation.  Strategic management is an ongoing process to develop and revise future-oriented strategies that allow an organization to achieve its objectives, considering its capabilities, constraints, and the environment in which it operates.

1. Development of vision statement  :

Q.3 What are the primary functions of a strategic leader in an organization?

Ans :  1. Formulation of correct strategy  :

It is the leader’s job to define the company’s strategic position and make the trade-offs. Instead of broadening into every segment in which profits may be earned, the leader focuses the company on deepening its strategic position and communicates the strategy externally to customers who value it, as well as internally to the firm. Taking a strategic position that delivers value and communicating that value inside and out are the core leadership tasks in crafting strategy.

2. Execution of strategy  :

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