Strategic Management

STRATEGIC MANAGEMENT AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

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STRATEGIC MANAGEMENT Dr. T.K. Jain.

AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email protected] www.afterschool.tk, www.afterschoool.tk www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

BCG Matrix. • It was proposed by Boston Consulting group. It advocates that every organisation must allocate resources properly. Different SBUs should be divided in different groups like CASH COW, DOG, STAR, QUESTION MARK. Funds must be withdrawn from dogs and cash cows and must be invested in stars and question mark. The business with high growth rate and high market share is star, high growth rate but low market share is question mark, high market share but low growth rate is cash cow and low market share and low growth rate is dog.

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Porters Generic Strategies • Michael Porter has given three generic strategies : • 1. differentiation • 2. cost leadership • 3. focus • Besides, a company has four options : • 1. expansion, 2. diversification 3. stability 4. retrenchment. www.afterschoool.tk

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Continued… • Differentiation : make your product different from those of competitors in some unque sense • Cost leadership: reduce your cost, and reduce prices so that it is below the prevailing cost and prices of competitors • Focus : develop products and services tailor made for the specific requirements of the customers. www.afterschoool.tk

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The SWOT analysis is a simple and useful tool of environmental analysis • In this we study the environmental forces and their impact on the business. Here we study the impact of business on various aspects. We are able to study the strengths, weaknesses, opportunities and threats regarding a business and decide about strategy for the business. www.afterschoool.tk

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Mergers and acquisition • These help a company to progress. Here a company acquires another company for achieving market dominance and business growth. Here the company tries to build business growth through large scale operations. Example: Mittal group took over Arcellor for its growth. Merger means two companies combined to form one company. Acquisition means purchase of controlling stake in another company. www.afterschoool.tk

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Gap analysis • Here the company tries to study the gap between where the company should be and where the company is likely to be. The gap helps the company in formulating strategy for bridging the gap. The company can identify the gap and try to bridge the gap.

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Discuss the five forces model of Porter with reference to the automobile industry • Suppliers : include suppliers of components, technology, spare parts, etc. • Substitute products : railways, transportation system, air plane, new alternative technologies are developing like battery operated cars etc. • Buyers : the lifestyle of buyers is changing and they are becoming more demanding. www.afterschoool.tk

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Continued… • New entrants : many new companies are planning to enter this industry. • Competitors : all the players who are operating in this industry are competitors like Tata, Suzuki, Honda, etc. • Every company should thoroughly analyse these five forces affecting it before formulating the strategy. www.afterschoool.tk

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how the concept of strategic business units (SBUs) is useful for a multi-business enterprise • An SBU is a distinct unit of an enterprise, which is empowered to take strategic decisions regarding products, markets, technologies and services that it offers. It serves a unique set of market or offers a unique product or has a unique business definition. Business definition is the description of products, markets, technologies. www.afterschoool.tk

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difference between strategic alliances and joint ventures • Strategic alliances are agreements with other companies for sharing technology, resources, products and processes • Joint ventures are collaborations between companies on important issues, where the two companies work together for achieving some common objectives. Joint ventures could be based on equity participation or other means of collaboration. It gives a new company which operates over a long term period. www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Mckinsey's framework. • As per McKinsey, there are 7 important factors which are interrelated and interdependent regarding a business. These factors are : • 1. staff 3. shared values 3. system 4. strategy 5. superordinate goals 6. structure 7.style

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Continued…

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Benchmarking • Benchmarking can be external or internal. In internal benchmarking, we compare one department / unit to another department / unit. In external benchmarking, we identify a comparison unit out of organisation. Here we compare our company with any other company. We look at the best practices and try to learn them and implement in our company. It is a tool for development of the company.

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TQM • Total quality management is the process of inplementing quality at every process in the organisation. Here we document all the processes and train workers in that process. We try to consider the customer expectations and as per that we define our quality standards and try to be consistent in our quality implementation. www.afterschoool.tk

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BPR • Business process reengineering is the process to study the processes and redifining them. When existing business processes become outdates / lenghy/ long / cumbersome, BPR is the best approach, where we don’t repair/ modify them but completely alter them. BPR uses latest technology in its implementation process and reshape the business processes. www.afterschoool.tk

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SIX SIGMA • Sigma stands for deviations. Standard deviations are denoted by Sigma. Sigma of 1 denotes a standard deviation. Sigma of 2 reduces the possibility of errors – as there will be very less events out of the range. Similarly 6 sigma reduces the possibility of errors. a process must not produce more than 3.4 defects per million opportunities. A Six Sigma defect is defined as anything outside of customer specifications. A Six Sigma opportunity is then the total quantity of chances for a defect. It is the highest level of quality management tool. It uses black belt training in quality management so that people are able to manage the quality to the best possible extent www.afterschoool.tk

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Continued… • A black belt in six sigma is an expert in quality management, team building, team work allocation, identification of deviations, lean manufacturing, and in process improvement.

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Vision, mission and objective • Vision : it is your understanding about your future. It is the statement regarding where you want to be after 5 years or after 10 years. It is futuristic. It is your understanding about your future. • Mission is the ultimate purpose of the organisation. It is not time bound – but perennial in nature. It is the basic guiding principle of the organistion. • Objective is a time bound goal, that we want to achieve. It is defined with reference to the environment. It helps the organisation in achieving its long term vision and journey. Generally objectives are defined in time frame from 1 to 5 years It may be defined in terms of market share, quantitative targets regarding sales etc. www.afterschoool.tk

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Why such a programme? • To promote people to take up entrepreneurship and help develop the society • To enable people to take up franchising and other such options to start a business / social development project • To enable people to take up social development as their mission • To enable people to promote spirituality and positive thinking in the world www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Who are our supporters? • Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. • You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

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About AFTERSCHO☺OL PGPSE – the best programme for developing great entrepreneurs Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee • Option to take up part time job – so earn while you learn • The only absolutely free course on internet • • • • •

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Workshops from AFTERSCHO☺OL • • • • • • • • •

IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad

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Flexible Specialisations: • • • • • • • • • •

Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Salient features: • The only programme of its kind (in the whole world) • No publicity and low profile course • For those who want to achieve success in life – not just a degree • Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes • Scholarships for those from poor economic background • Latest and constantly changing curriculum – keeping pace with the time • Placement for those who are interested • Admissions open throughout the year • Latest and most advanced technologies, books and study material

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Components • • • • • • • • • • • • • •

Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development EsGotitial softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Pedagogy • • • • • • • • • •

Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits PreGotitations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Branches • AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

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Case Studies • We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

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Basic values at AFTERSCHO☺OL • • • • • •

Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help • Ask fundamental questions : why, when, how & where? • Embrace change – and compete with yourself only

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

www.afterschoool.tk social entrepreneurship for better society

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS