MB0052 – STRATEGIC MANAGEMENT AND BUSINESS POLICY

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ASSIGNMENT

 

 

Note – Answer all questions. Each question is followed by evaluation scheme.

 

1 What is strategy? Explain some of the major reasons for lack of strategic management in some companies?

 

Answer : The concept of strategy has been borrowed from the military and adapted for use in business.  A review of what noted writers about business strategy have to say suggests that adopting the concept was easy because the adaptation required has been modest.  In business, as in the military, strategy bridges the gap between policy and tactics.  Together, strategy and tactics bridge the gap between ends and means (Figure 1).

 

 

 

 

Reasons for lack of strategic management:

 

Communications

 

 

 

 

2 Explain the following:

 

(a) Core competence

 

Answer : The idea of “core competences” is one of the most important business ideas currently shaping our world. This is one of the key ideas that lies behind the current wave of outsourcing, as businesses concentrate their efforts on things they do well and outsource as much as they can of everything else.

 

A core competency is fundamental knowledge, ability,

 

(b) Value chain analysis

Answer : Value Chain Analysis is a useful tool for working out how you can create the greatest possible value for your customers.

 

In business, we’re paid to take raw inputs, and to “add value” to them by turning them into something of worth to other people. This is easy to see in manufacturing, where the manufacturer “adds value” by taking a raw material of little use to the end-user (for example, wood pulp) and converting it into something that people are prepared to pay money for (e.g. paper). But this idea is just as important in service industries, where people use inputs of time, knowledge, equipment and systems to create services of real value to the

 

 

3 Describe in brief the following environmental factors which a business strategist considers:

 

(a) Political factors

 

Answer : This exercise dissects the political, governmental, and legal aspects of a particular business. Both local and global environments are studied because federal, state, local, and foreign governments are major regulators, deregulators, subsidizers, employers, and customers of organizations. The growing interdependence among economies, markets, governments, and organizations underscores the importance of considering the political variables affecting the conception, development, and operation of any

 

 

4 Write a brief note on Turnaround strategy.

 

Answer : “Turnaround strategy is a corporate practice designed and planned to protect (save) a loss-making company and transform it into a profit-making one.”

 

Definition of Turnaround Strategy

The definition of turnaround strategy w.r.t different senses is depicted below.

 

 

 

5 Define the term ‘strategic alliance’. What are its characteristics and objectives?

 

Answer : A strategic alliance is a relationship between two or more entities that agree to share resources to achieve a mutually beneficial objective. For example, a company manufactures and distributes a product in the United States and desires to sell it in other countries. Another company wants to expand its product line with the type of product the first company creates, and has a worldwide distribution channel. The two companies establish an alliance to expand the distribution of the first company’s product.

 

 

 

6 Write short notes on the following:

 

a) Competitive advantage

Answer : Competitive advantage is the favorable position an organization seeks in order to be more profitable than its competitors.

 

The challenge for a marketing strategy is to find a way of achieving a sustainable competitive advantage over the other competing products and firms in a market.

 

A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing

 

 

 

 

b) Porter’s Competitive threat 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 break into the

 

 

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

 

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or

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(Prefer mailing. Call in emergency )