Business Policy And Strategic Management
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Business policy and Strategic management 3rd Semester MBA
Introduction
Why Business policy & strategic management? It lends a Methodology and framework Provide route map to a firm Ensure speedy decision & direction Hedge against uncertainty To understand the external trends in advance To Ensure the best utilization of resources
What is Strategy?
A well thought out systematic plan of action to defend and to defeat competitors. Emergent Strategy ?
Level of strategy
Corporate Business Functional
Corporate
Business1
F1
Business3
Business 2
F2
F3
F4
Strategic management (SM)
Originated in 1950’s and again revived after 1990’s. S.M is defined as the art and science of formulation, implementing and
cross-functional decisions that enable an evaluating
organization to achieve its objective.
Key terms in Strategic management
Competitive advantage & Core competency Vision & Mission statement External opportunities and threats Internal strength and weaknesses Long term objectives Annual Objectives Strategies Strategists Policies
Advantages of Strategic management •
•
• • • •
•
Allows for identification, Prioritization and Exploration of opportunities. Provide an objective view of management problems Minimize the effect of adverse condition Allow effective allocation of resources Encourages forward thinking Gives degree of discipline and formality to the management of a business. Framework for internal communication.
Stages of strategic management
Formulation Implementation Evaluation
Introduction
Why Business policy & strategic management? It lends a Methodology and framework Provide route map to a firm Ensure speedy decision & direction Hedge against uncertainty To understand the external trends in advance To Ensure the best utilization of resources
What is Strategy?
A well thought out systematic plan of action to defend and to defeat competitors. Emergent Strategy ?
Level of strategy
Corporate Business Functional
Corporate
Business1
F1
Business3
Business 2
F2
F3
F4
Strategic management (SM)
Originated in 1950’s and again revived after 1990’s. S.M is defined as the art and science of formulation, implementing and
cross-functional decisions that enable an evaluating
organization to achieve its objective.
Key terms in Strategic management
Competitive advantage & Core competency Vision & Mission statement External opportunities and threats Internal strength and weaknesses Long term objectives Annual Objectives Strategies Strategists Policies
Advantages of Strategic management •
•
• • • •
•
Allows for identification, Prioritization and Exploration of opportunities. Provide an objective view of management problems Minimize the effect of adverse condition Allow effective allocation of resources Encourages forward thinking Gives degree of discipline and formality to the management of a business. Framework for internal communication.
Stages of strategic management
Formulation Implementation Evaluation
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