Business Policy And Strategic Management

  • May 2020
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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

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