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    Strategic Management
    Strategic Management
    Strategic Management
    Ebook160 pages1 hour

    Strategic Management

    By Dr.Archana Dadhe

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    About this ebook

    This book on Strategic Management is specially designed for those who are the students of MBA, PGDM & Executives. It focuses on the art of treatment of the critical business skills needed to plan and manage strategic activities. Units of this book cover entire strategic management process and techniques that aid strategic analysis, decision making, implementation, and control.

    LanguageEnglish
    PublisherDr.Archana Dadhe
    Release dateOct 16, 2014
    ISBN9781310640575
    Strategic Management
    Author

    Dr.Archana Dadhe

    Assistant Professor at Department of Management Sciences & Research, G.S.College of Commerce & Economics,Nagpur.Has done Ph.D , MBA,Post Graduate Diploma in Management,Post Graduate Diploma in Marketing Management.Having 15 years of experience in the field of Academics.Has worked as a promoter/Director in the capacity of Franchisee of NIIT Ltd.Has presented & published 20 research papers in various National & International Journals & Conferences.Research papers are available on Google Scholar,EBSCO USA & listed in Scopus.

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    • 5/5
      A compact strategy textbook at a glance..this is superb.
      it is highly recommended for current and potential students of MBA

      1 person found this helpful

    Book preview

    Strategic Management - Dr.Archana Dadhe

    Smashwords Edition

    All rights Reserved

    Strategic Management

    © 2014 Archana Dadhe

    Second Edition: December 2016

    Smashwords Edition, License Notes

    Thank you for downloading this ebook. This book remains the copyrighted property of

    the author, and may not be redistributed to others for commercial or non-commercial

    purposes. If you enjoyed this book, please encourage your friends to download their own

    copy from their favorite authorized retailer. Thank you for your support.

    This book is dedicated to

    My father late Shri B. V. Dadhe &

    Mother late Mrs. Sudha for their unconditional love and support

    &

    My sister Dr. Nilima & nephew Mr. Tushar

    for their words of encouragement, affection & support.

    Thanks to S. B. Naik for book Designing and Editing Support

    PREFACE

    This book on Strategic Management is specially designed for those who are the students of MBA, PGDM & Executives. It focuses on the art of treatment of the critical business skills needed to plan and manage strategic activities.

    Units of this book cover entire strategic management process and techniques that aid strategic analysis, decision making, implementation, and control.

    In a multi-business enterprise, which is involved in several businesses, there is a need to have strategies at two levels – a corporate level strategy for the company as a whole and a business level strategy for each of the separate business of the company. It allows students to move quickly into strategy implementation considerations from an executive perspective.

    The RBV has gained major academic and business attention to make strategic decisions. The concept of core competency is central to the resource based perspective. It helps Students to quickly incorporate the value chain perspective into their strategic thinking process.

    A number of techniques have been developed for displaying a diversified organization’s operations as a portfolio of business. The techniques provide simple frameworks for reviewing the performance of multiple strategic Business Units collectively. This book provides details on these approaches with several examples of successful company experiences.

    In today’s highly competitive world, it becomes important for organizations to have a good leader. Every company that has maintained its excellence over the years has done so because it had a leader.

    Generic strategies were used initially in the early 1980s, and seem to be even more popular today. They outline the three main strategic options open to organization that wish to achieve a sustainable competitive advantage.

    It provides in-depth coverage of how Companies expand globally and perform different activities to become successful. These strategies are covered in this book.

    Well executed strategy definitely ensures successful achievement of organizational goals & objectives. But changes in external & internal environment of an organization may not allow the firm to achieve desired goals & objectives. The environmental changes may take place at any stage of strategy implementation. Strategists should systematically review, evaluate, & control the process of strategy implementation. We try to help our reader to gain insights in to it to implement it in the real life.

    Cases present companies, industries, and situations that are interesting, easily recognized & very useful for the students.

    Dr.Archana Dadhe

    CONTENTS

    Chapter I – Strategic Management

    Chapter II: Internal & Resource analysis

    Chapter III: Strategy Formulation

    Chapter IV: Portfolio Approach & analysis

    Chapter V: Business Level strategy & Functional level strategy

    Chapter VI: Strategic Implementation Strategic evaluation, Control & continuous Improvement

    Question Paper

    Case Studies

    Contents

    Chapter I: Strategic management - Introduction to strategic management, Strategic decision making, Strategic management process; Difference between Policy, Strategy and Tactics. Vision, Mission & goals, Preparation of Vision & Mission Statement; Organizational objectives, Hierarchy of objectives & strategies, Setting of objectives.

    Chapter II: Internal & Resource analysis - SWOT analysis, Resource analysis- a) Organization capabilities & competitive advantage b) Value chain analysis; Concept of synergy -Core competency, Competitive analysis - Interpreting the five forces model, Competitors analysis. External analysis - Environment analysis a)Components of External environment b)Components of Internal environment c)Environmental scanning. Industry Analysis a) A Framework for industry analysis b)Michael Porter’s Analysis c)Usefulness of industry analysis.

    Chapter III: Strategy Formulation - Corporate level strategy: A) Growth-Concentration, Horizontal, Vertical, B) Diversification- Concentric, conglomerate. C) Expansion through Cooperation; Merger, Acquisitions, Joint ventures & strategic alliances D) Stability -Pause/proceed with caution, No change, Profit strategies. E) Retrenchment –Turnaround, Captive Company Strategy, Selling out Bankruptcy, Liquidation.

    Chapter IV: Portfolio Approach & analysis - a)Portfolio analysis, advantages & disadvantages, b)BCG Matrix c) General Electric’s Business Screen, d)Life cycle or Arthur D Little matrix, e) Balance scorecard.7 s framework- (separate variables in details), Strategic Business Unit (SBUS), Merits & Demerits of SBU; Leadership, Power and organization culture.

    Chapter V: Business Level strategy & Functional level strategy - A) Business Level strategy-Competitive advantage, Low cost strategy, Differential strategy and Focus strategy, B) Functional level strategy - Operations strategy, Marketing strategy, Financial strategy, Human Resource strategy.

    Global Strategy - Reasons for globalization, Global expansion strategy, International Portfolio Analysis; Market entry strategy, International strategy & competitive advantage.

    Chapter VI: Strategic Implementation Strategic evaluation, Control & continuous Improvement - Establishing strategic evaluation and control; The quality imperative: continuous Improvement to build customer value, Fundamentals of Six sigma approach for continuous improvement.

    Chapter I - Strategic Management

    Strategic Management

    - Introduction to strategic management

    - Strategic decision making

    - Strategic management process

    - Difference between Policy, Strategy and Tactics

    - Vision, Mission and Goals

    - Preparation of Vision and Mission Statement

    - Organizational Objectives

    - Hierarchy of objectives and strategies

    - Setting of Objectives

    Strategy

    Strategy has been defined as an integrated set of actions leading to a sustainable competitive advantage. The word strategy has evolved from the Greek word strategos connoting a military commander-in-chief.

    The first instance of a formal approach to strategy in business was recorded when Alfred Sloan, chief executive of General Motors (1923-1946) devised a strategy, explicitly based on the perceived strengths and weaknesses of Ford. New Operations research Techniques were devised during World War II, paving the way for usage of quantitative analysis in formal Strategic Planning for business.

    Strategy is a planned or emergent course of action that is expected to contribute to the achievement of organizational goals. A strategy is defined as a unified, comprehensive and integrated plan that relates to the strategic advantages of the firm and to the challenges of the environment.

    Definition of Strategy

    Chandler:

    Strategy is determinator of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources for carrying out these goals

    Michael Porter:

    Strategy means developing and communicating the company’s unique position, making trade-off and forging fit among activities.

    Example

    Tata’s investment in Spice Jet is likely to turn into an entry in to the aviation sector. Tata Motors acquired Daewoo commercial vehicle company Korea with the idea to enter into Africa & Asian Market.

    Apple has also partnered with Clearwell(Symantec) in order to jointly develop Clearwell's E-Discovery platform for the Apple iPad. E-Discovery is used by enterprises and legal entities to obtain documents and information in a legally defensible manner. Apple & IBM announced exclusive partnership bringing IBM's big data & analytic capabilities to iphone & ipad.

    ELEMENTS OF STRATEGY

    A strategy should have three elements:

     Objectives & goals to be achieved.

     Major or Key Policies that shall guide actions

     Action programs that are to be initiated to accomplish the stated goals.

    Strategic Management

    Strategic management is the process of specifying an organization’s objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans.

    It is the highest level of managerial activity, usually performed at the top with the help of the executive team.

    It provides overall direction to the whole enterprise.

    Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and

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