Q1. Explain Corporate Strategy in Different Types of Organization

Q1. Explain Corporate Strategy in different types of Organization.
Ans. Strategic management is basically needed for every organization and it offers several benefits. 1. Universal Strategy refers to a complex web of thoughts, ideas, insights, experiences, goals, expertise, Memories, perceptions, and expectations that provides general guidance for specific actions in pursuit of particular ends. Nations have, in the management of their national policies, found it necessary to evolve strategies that adjust and correlate political, economic, technological, and psychological factors, along with military elements. Be it management of national polices, international relations, or even of a game on the playfield, it provides us with the preferred path that we should take for the journey that we actually make. 2. Keeping pace with changing environment The present day environment is so dynamic and fast changing thus making it very difficult for any modern business enterprise to operate. Because of uncertainties, threats and constraints, the business corporation are under great pressure and are trying to find out the ways and means for their healthy survival. Under such circumstances, the only last resort is to make the best use of strategic management which can help the corporate management to explore the possible opportunities and at the same time to achieve an optimum level of efficiency by minimizing the expected threats. 3. Minimizes competitive disadvantage It minimizes competitive disadvantage and adds up to competitive advantage. For example, a company like Hindustan Lever Ltd., realized that merely by merging with companies like Lakme, Milk food, Ponds, Brooke bond, Lipton etc which make fast moving consumer goods alone will not make it market leader but venturing into retailing will help it reap heavy profits. Then emerged its retail giant Margin Free which is the market leader in states like Kerala. Similarly, the R.P. Goenka Group and the Muruguppa group realized that mere takeovers do not help and there is a need to reposition their products and reengineer their brands. The strategy worked. 4. Clear sense of strategic vision and sharper focus on goals and objectives Every firm competing in an industry has a strategy, because strategy refers to how a given objective will be achieved. Strategy defines what it is we want to achieve and charts our course in the market place; it is the basis for the establishment of a business firm; and it is a basic requirement for a firm to survive and to sustain itself in todays changing environment by providing vision and encouraging to define mission. 5. Motivating employees One should note that the labor efficiency and loyalty towards management can be
AcroPDF - A Quality PDF Writer and PDF Converter to create PDF. To remove the line, buy a license.
expected only in an organization that operates under strategic management. Every guidance as to what to do, when and how to do and by whom etc, is given to every employee. This makes them more confident and free to perform their tasks without any hesitation. Labor efficiency and their loyalty which results into industrial peace and good returns are the results of broad-based policies adopted by the strategic management 6. Strengthening Decision-Making Under strategic management, the first step to be taken is to identify the objectives of the business concern. Hence a corporation organized under the basic principles of strategic management will find a smooth sailing due to effective decision-making. This points out the need for strategic management. 7. Efficient and effective way of implementing actions for results Strategy provides a clear understanding of purpose, objectives and standards of performance to employees at all levels and in all functional areas. Thereby it makes implementation very smooth allowing for maximum harmony and synchrony. As a result, the expected results are obtained more efficiently and economically. 8. Improved understanding of internal and external environments of business Strategy formulation requires continuous observation and understanding of environmental variables and classifying them as opportunities and threats. It also involves knowing whether the threats are serious or casual and opportunities are worthy or marginal. As such strategy provides for a better understanding of environment.
Q2:- What is the role of consultants play in the strategic planning and management process of a company? Is it an essential role? Ans: - A strategy consultants role is to provide companies with advice on their goals and
future direction so that they can plan effective strategies for growth. These consultants use expertise, industry experience and analysis to help their clients identify strategies that will increase revenue and market share by improving competitive advantage. Strategy consultants can help companies grow faster and increase the value of their business.
Framework
Strategy consultants provide a companys management team with a framework for making effective decisions about their direction. They provide a way of thinking about how to deal with the future and a process to guide decision-making, according to Interisle Consulting Group, in a White Paper entitled "The Changing Role of Strategy." Strategic consultants participate in initial meetings with the company's management team to establish the requirements of the consultancy project, prepare a proposal, and carry out research, analysis and assessment of growth scenarios and options. The independent perspective as a strategy consultant and the detailed recommendations in the report enable a management team to make more informed decisions.
Focus
A key role for strategy consultants is to help companies define what they do and identify their capabilities, strengths and weaknesses as a basis for going forward. Business strategy and management consultancy Method Frameworks points out in "Todays Definition of Strategic Planning," an article on its website, that if a company cannot explain what it does, it cannot expect the market to understand its capabilities. Consultants examine the companys product range, the skills of its employees, its customer base and its marketing communications to build a picture of its current capabilities.
Options
Strategy consultants help management teams compare their current capabilities with market opportunities. They analyze a range of opportunities, compare market requirements with the companys capabilities and set out a range of options. The options might include developing or sourcing new products, expanding into wider geographical territories or entering new market sectors. For each option, consultants highlight the associated risk and identify the changes required for success.
Differentiate
Independent strategy consultants bring the expertise and experience of solving strategy problems for small and large businesses across different industry sectors. That perspective and experience can help a management team to focus on what the company should do to differentiate itself from the competition, according to an article, Strategic Consulting" on the consultancy website CaseInterview.com. As part of their role, strategic consultants help management teams identify priorities and focus the team on the requirements for making the strategy a reality.
Q3. What is strategic audit? Explain its relevance to corporate strategy and corporate governance. Ans:Q4. What is Corporate Social Responsibility (CSR)? Which are the issues involved in analysis of CSR? Name three companies with high CSR rating. Ans:Q5. Distinguish between core competence, distinctive competence, strategic competence and threshold competence. Use examples. Ans:Q6. What is global industry? Explain with examples, international strategy, multi-domestic strategy, global strategy and transnational
strategy. Ans:-

Q1. Explain Corporate Strategy in Different Types of Organization

Uploaded by

Copyright:

Available Formats

Q1. Explain Corporate Strategy in Different Types of Organization

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Q1. Explain Corporate Strategy in Different Types of Organization

Uploaded by

Copyright:

Available Formats

Q1. Explain Corporate Strategy in different types of Organization.

You might also like