Friday, 5 January 2018

MB0052 - Strategic Management and Business Policy

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FALL 2017
MB0052- Strategic Management and Business Policy
Book ID
Credit and Max.
4 credits; 60 marks

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.

Question. 1. What is strategy? Explain the various level of strategy in an organization.

Answer:Strategy has been studied for years by business leaders and by business theorists. Yet, there is no definitive answer about what strategy really is.

One reason for this is that people think about strategy in different ways.

For instance, some people believe that you must analyze the present carefully, anticipate changes in your market or industry, and, from this, plan how you'll succeed in the future. Meanwhile, others think that the future is just too difficult to predict, and

Question. 2. Specify the interrelationship between strategic planning and strategicmanagement. Which comes first?

Answer:Strategic managementcan be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives.

Various definitions are used to describe the subject, but few give a full and easy to understand answer. The combination of all 4 definitions used previously gives us a much clearer view of what the subject is:

Strategic management is a continuous process of

Question. 3. What is a mission statement? Differentiate between a mission statement and avision statement.

Answer:Organizations summarize their goals and objectives in mission and vision statements. Both of these serve different purposes for a company but are often confused with each other. While a mission statement describes what a company wants to do now, a vision statement outlines what a company wants to be in the future.

Question. 4. What is SWOT analysis? Explain SWOT analysis in the form of a matrix?

Answer:TOWS and SWOT are acronyms for different arrangements of the words Strengths, Weaknesses, Opportunities and Threats.

By analyzing the external environment (threats and opportunities), and your internal environment (weaknesses and strengths), you can use these techniques to think about the strategy of your whole organization, a department or a team. You can also use them to think about a process, a marketing campaign, or even your own skills and experience.

Question. 5. Define corporate turnaround? Distinguish between surgical and nonsurgicalturnaround. Explain with some examples?

Answer:Turnaround management is a process dedicated to corporate renewal. It uses analysis and planning to save troubled companies and returns them to solvency, and to identify the reasons for failing performance in the market, and rectify them. Turnaround management involves management review, root failure causes analysis, and SWOT analysis to determine why the company is failing. Once analysis is completed, a long term

Question. 6. What are the major characteristics of an effective strategy evaluation system?

Answer:A Good evaluation system must posses various qualities. It must meet several basic requirements to be effective. First, strategy-evaluation activities must be economical; too much information can be just as bad as too little information; and too many controls can do more harm than good. Strategy-evaluation activities also should be meaningful; they should specifically relate to a firm's objectives. They should provide managers with useful information about tasks over which they have control and influence. Strategy-evaluation activities should provide timely information; on occasion and in some areas, managers may
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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