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NIBM GLOBAL
SECOND SEMESTER EMBA/MBA
Subject : Strategic Management
Attend any 4 questions. Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)
Question. 1. Explain the disappointments with Strategic Planning
Answer: For any business, strategic planning is a necessity. It’s the key to looking to the future and creating a direction intentionally as opposed to simply reacting to the marketplace on a daily basis. In today’s fast-paced marketplace, strategic planning helps company leaders maintain their sanity and build a company based on the values that matter most to them.
Historically, strategic planning meant going offsite for a few days once a year and laying out the company’s goals and direction for
Question. 2. Justify the notion and explain“ Strategic Management Works”
Answer: Strategic management is the planned use of a business’ resources to reach company goals and objectives. Strategic management requires ongoing evaluation of the processes and procedures within an organization and external factors that may impact how the company functions. The process of strategic management should guide top-level programs and decisions. Companies of all sizes and in all industries can benefit from the practice of strategic management.
Question. 3. Strategic planning is “strategic” because it requires an understanding of how the external environment impacts a firm’s ability to create value. Describe.
Answer:
Question. 4. Successful implementation depends on how effectively management deals with fundamental issues associated with changing the operating system in order to carry out the business strategy. Explain the five issues.
Answer: A Business Operating System (BOS) is your company’s unique way of doing things–how it operates, goes to market, produces and deals with its customers. An effective BOS transcends the people who are doing and managing the work, and is more valuable as a result. A business that effectively operates without you is always more attractive to public and private sources of capital.
Question. 5. How will you improve productivity with an Operating Plan? Explain.
Answer: Highly productive businesses tend to make more money, and the same goes for productive people. Productivity relies on strategic planning, organization and focused efforts. The best thing about productivity? It can be easily improved.
Planning for productivity improvement is one of the most important assets, for companies as well as for individuals.
So, what does “planning for productivity improvement” mean exactly? It means laying out specific steps you can take to improve your productivity. Creating a daily plan and sticking to it helps you prioritize tasks more
Question. 6. It is crucial that the management group responsible for implementing an operating plan share a common understanding of the business strategy they are supporting, its strategic imperatives for the operating system, and the implied priorities. Explain.
Answer:
25 x 4=100 marks
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