MB0052- Strategic Management and Business Policy

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DRIVE

SUMMER 2016

PROGRAM/SEMESTER

MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 4

PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/PGDROMN/ PGDSCMN/ PGDTQMN – SEM 2

SUBJECT CODE & NAME

MB0052- Strategic Management and Business Policy

1 Briefly discuss concept of strategy? Explain the various levels of strategy in an organization.

Meaning of strategy

Levels

Answer: The word ‘strategy’ comes from Greek strategies, which refers to a military general and combines stratus (the army) and ago (to lead). The concept and practice of strategy and planning started in the military, and, over time, it entered business and management. The key or common objective of both

2 How strategic planning and strategic management are interrelated to each other? Which comes first?

Strategic Planning and Strategic Management

Answer: Strategic Planning and Strategic Management

Plan or planning should precede action. And, strategic planning should precede strategic management. Strategic planning (also called corporate planning) provides the framework (some call it a tool) for all major

3 What is a mission statement? Differentiate between a mission statement and a vision statement.

Mission Statement

Differences

Answer: Mission Statement

‘A business is not defined by its name, statutes or articles of incorporation. It is defined by the business mission. Only a clear definition of the mission and the purpose of the organization makes possible clear and realistic

4 What is SWOT analysis in terms of Internal & External Analysis? Explain SWOT analysis in the form of a matrix?

SWOT Analysis

Answer: ETOP and EFEM focus only on the opportunities and threats from the environment. But, to exploit an

5 Define corporate turnaround? Distinguish between surgical and nonsurgical turnaround. Explain with some examples?

Turnaround Strategy

Surgical turnaround and nonsurgical turnaround

Answer: Corporate turnaround may be defined as organizational recovery from business decline or crisis. Business decline for a company means continuous fall in turnover or revenue, eroding profit, or accrual or accumulation of losses. So, business or organizational decline, like business performance, is understood in relative

6 What are the major characteristics of an effective strategy evaluation system? Analyse these characteristics.

Characteristics of an Effective Evaluation System

Answer: Strategic analysts have laid down certain basic requirements which evaluation should comply with to be effective.

First, strategy evaluation process or measures should be meaningful. These should specifically relate to the objectives/

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