BUSINESS PLANNING & POLICY MANAGEMENT

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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724

SUB: BUSINESS PLANNING & POLICY MANAGEMENT

Instructions:

1. Maximum marks: 100 Marks

2. Attempt all questions

3. Illustrate with examples wherever applicable

Q1) XYZ Ltd. Wishes to adopt the cost-leadership business strategy for one of its SBUs. How should it ensure operational effectiveness in terms of productivity, processes, people and pace? If, after 1 year, the company wishes to change over to a differentiation business strategy, identify the changes it should bring in its approach to attain operational effectiveness. (10 marks)

Answer: - Cost leadership is a concept developed by Michael Porter, used in business strategy. It describes a way to establish the competitive advantage. Cost leadership, in basic words, means the lowest cost of operation in the industry.[1] The cost leadership is often driven by company efficiency, size, scale, scope and cumulative experience (learning curve). A cost leadership strategy aims to exploit scale of production, well defined scope and other

Q2) Take an example of any service institution of your choice (example: hospital) and suggest howoperational control will work in such an institution. (10 marks)

Answer:The Operational control is the Authority over normal business operations at the operational level, as opposed to the strategic or tactical levels. Operational control includes control over how normal business processes are executed, but does not include control over the strategic business targets or high-level business priorities.  Operational efficiency in any organization is critical to success. Healthcare organizations face an increased challenge to properly utilize resources, improve care and lower costs. By reducing bottlenecks and implementing solutions that

Q3) Discuss the importance of strategic changes for the following organizational systems

(a) Information,

(b) Control,

(c) Appraisal,

(d) Motivation,

(e) Development and

(f) Planning  (10 marks)

Answer:If changes are occurring in your organization – strategic changes, tactical changes, leadership changes, technology changes – then those changes are going to have impacts and effects on your people and processes (among other areas). To help minimize those impacts and effects, from having unintended negative outcomes, it is necessary to have “change management” methodologies in place with skilled resources delivering and executing on those methodologies, principles and processes. This helps to minimize possible negative outcomes and

Q4) Take an example of an Indian company. What steps should it undertake for resource allocationfor implementing its strategies? What difficulties could be expected while doing so and how canthey be dealt with?

Answer:A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer).  A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to - for example when Coca-Cola launched Pooh Roo Juice in this country. 

Q5) In what way is the concept of life cycle and SWOT analysis helpful in making strategic choice at the business level? (10 marks)

Answer: - concept of life cycle:-

Business Life Cycle

Your business is changing. With the passage of time, your company will go through various stages of the business life cycle. Learn what upcoming focuses, challenges and financing sources you will need to succeed.

A business goes through stages of development similar to the cycle of life for the human race. Parenting strategies that work for your toddler cannot be applied to your teenager. The same goes for your small business. It will be faced with a different cycle throughout its life. What you focus on today will change and require different approaches to be successful.

Q6) Explain why business policy is a capstone, integrative course. How can an understanding of business policy help in a career choice? (10 marks)

Answer: - Business policy is a capstone:- Business Policy/Capstone begins with an introduction to the simulated operations and strategic management principles and practice.  A number of simulated companies, one for each team, are created for practice of strategy, policy, and integrated operations.  Students will begin management of their simulated company once they have gathered working knowledge of the firm.  The rest of strategic management, combined with business functional knowledge from areas such as production/operations, marketing, and finance, is then applied in managing the simulated company.  A review of

Q7) Explain the meaning of strategic management in your own words. Identify the roles that CEOs play in strategic management.

Answer: - Meaning of strategic management:- Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

Strategic management provides overall direction to the enterprise and involves specifying the organization's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans.

Q8) Describe the essential characteristics of a mission statement. In what different ways can a mission statement be formulated?

Answer:-Essential characteristics of a mission statement:-

Function:-

The mission statement needs to include some description of the function of the business. For example, "to promote industrial excellence," tells customers and employees nothing. A more effective description would be "To provide management consulting services."

Target Consumers:-

An effective mission statement sets out, in broad

Q9) Explain the technique of ‘balanced scorecard’.

OR

Q9) Explain the term ‘corporate restructuring’. (10 marks)

Answer:-Balanced scorecard:- The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. It was originated by Drs. Robert Kaplan (Harvard Business School

Q10) Explain the following terms: (10 marks)

1) Cost leadership

2) Differentiation

3) Focus

Answer:-

1) Cost leadership: - Cost leadership is a concept developed by Michael Porter, used in business strategy. It describes a way to establish the competitive advantage. Cost leadership, in basic words, means the lowest cost of operation in the industry.[1] The cost leadership is often driven by company efficiency, size, scale, scope and cumulative experience (learning curve). A cost leadership strategy aims to exploit scale of production, well defined scope and other economies (e.g a good purchasing approach), producing highly standardized products,

Q11) Explain the following terms: (10 marks)

1) Cost leadership

2) Differentiation

3) Focus

Answer:1) Cost leadership:Sometimes, a company can improve its net profits by making a product different rather than becoming a cost leader -- selling items for the lowest price on the market. Even if a company attains cost leadership, it may not hold onto that lead for long. In general, smaller firms try to compete with larger firms on differentiation

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

“ help.mbaassignments@gmail.com ”

or

Call us at : 08263069601

(Prefer mailing. Call in emergency )