MB0052 – STRATEGIC MANAGEMENT AND BUSINESS POLICY

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ASSIGNMENT

 

 

 

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 Write Short notes on the following:

(a) Value Chain Analysis

(b) Corporate Restructuring

 

Ans : (a) Value chain Analysis :

 

Value Chain Analysis describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business. Influential work by Michael Porter suggested that the activities of a business could be grouped under two headings:

 

 

 

 

 

 

Q. 2 Differentiate between mission and vision of a company? Explain with examples.

 

Ans :Meaning and explanation of mission statement with examples :

 

A mission statement is a statement of the purpose of a company, organization or person, its reason for existing. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides “the framework or context within which the company’s strategies are formulated.” It’s like a goal for what the company wants to do for the world.

 

Mission statements often include the following information:

 

• Aim(s) of the organization

 

 

Q.3 Explain in detail Porter’s four generic strategies.

 

Ans : Porter’s generic strategies :

 

1. The Cost Leadership Strategy:

 

Porter’s generic strategies are ways of gaining competitive advantage – in other words, developing the “edge” that gets you the sale and takes it away from your competitors. There are two main ways of achieving this within a Cost Leadership strategy:

 

 

 

 

 

 

 

Q.4 Differentiate between core competence and distinctive competence.

 

Ans : Competency:

 

A competency is anything a business does well. A business may have numerous competencies. For example, an advertising firm might do a great job of managing internal talent and developing leaders from within. Or a manufacturing company might be extremely successful in keeping its number of defects per thousand units produced extremely low.

 

Core Competency:

 

A core competency is a competency of the

 

 

Q.5 Define the term ‘industry’. List the types of industries. How do you conduct an industry analysis?

 

Ans : Definition of ‘industry’ :

 

A classification that refers to a group of companies that are related in terms of their primary business activities. In modern economies, there are dozens of different industry classifications, which are typically grouped into larger categories called sectors. Individual companies are generally classified into industries based on their largest sources of revenue. For example, an automobile manufacturer might have a small financing

 

 

Q.6 Describe the different approaches to business ethics.

 

Ans : Business ethics theories include the moral principles or codes a company implements to ensure that all individuals working in the company act with acceptable behavior. Business owners and managers can use an ethics theory they deem most appropriate for use in their operations. A few different business ethics theories exist, such as the utilitarian, rights, justice, common good and virtue approach. These theories can be used on their own or in combination with each other. Each theory includes specific traits or

 

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