SUBJECT :STRATEGIC MANAGEMENT

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

 

SUBJECT :STRATEGICMANAGEMENT

Total Marks: 80

N. B.: 1)Attempt any Four Questions

2)All questions carries equal marks.

Answer any Four of the following questions (20 marks each)

Question.1.a) Explain the purpose of a mission statement.

Question. 1. b) Prepare a two-page typewritten mission statement for your company of your choice or for abusiness school.

Question.1. c) List five potentially vulnerable areas of a firm without a stated company mission.

Answer:

Question.2. Define the term social responsibility. Find an example of a company action that was legal but notsocially responsible. Give a few Indian example of Indian Firms that have incorporated Socialresponsibility in their mission and vision statements.

Answer:Social responsibility is an ethical framework which suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. A trade-off may exist between economic development, in the material sense, and the welfare of the society and environment, though this has been challenged by many reports over the past decade. Social responsibility means sustaining the equilibrium between the two. It pertains not only to business organizations but also to everyone whose any action impacts the environment. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals.

Question.3. What key emerging changes do you see in the global environment andWhat are their implications for strategy?Why do Company’s diversify?

Answer:Organizations have entered a new era characterized by rapid, dramatic and turbulent changes. The accelerated pace of change has transformed how work is performed by employees in diverse organizations. Change has truly become an inherent and integral part of organizational life.

Several emerging trends are impacting organizational life. Of these emerging trends, five will be examined: globalization, diversity, flexibility, flat, and networks. These five emerging trends create tensions for organizational leaders and employees as they go through waves of changes in their organizations. These tensions present opportunities as well as threats, and if these tensions are not managed well, they will result in dysfunctional and dire organizational outcomes at the end of any change process. These five trends and the specific

Question.4. Explain the relevance and the implication of Porter’s generic strategies and the five competitiveforces. Can mass customization outdate his generic strategies on an industry widespread basis?

Answer:

Question.5. Why are Joint Ventures formed? Are they relevant in the current WTO regime? What are thecharacteristics and strategic issues involved in JV’s and why do they fail?

Answer:

Question.6. Describe the different types of co-operation strategies and illustrate each with examples. Explainthe utility of the SWOT exercise.

Answer:Strength, Weakness, Opportunity, Threat. A SWOT analysis guides you to identify the positives and negatives inside your organization (S-W) and outside of it, in the external environment (O-T). Developing a full awareness of your situation can help with both strategic planning and decision-making.

The SWOT method (which is sometimes called TOWS) was originally developed for business and industry, but it is equally useful in the work of

Question.7. Write short notes on any 3 of the following :

Question.a. Stakeholder expectations

Answer:Stakeholders can be defined as all entities that are impacted through a business running its operations and conducting other activities related to its existence. The impact can be direct in the case of the business's customers and suppliers or indirect in the case of the communities in which the business chooses to place its locations. Businesses must consider the needs and expectations of its stakeholders, though it need not consider them to be of equal importance. Certain stakeholders such as owners and investors are more important than others.

Business Stakeholders: Stakeholder is a catch-all

Question.b. The Value Chain

Answer:To analyze the specific activities through which firms can create a competitive advantage, it is useful to model the firm as a chain of value-creating activities. Michael Porter identified a set of interrelated generic activities common to a wide range of firms. The resulting model is known as the value chain and is depicted below:

The goal of these activities is to create

Question.c. Franchising & Licensing

Answer:For a company looking to expand, franchising and licensing are often appealing business models. In a franchising model, the franchisee uses another firm's successful business model and brand name to operate what is effectively an independent branch of the company. The franchiser maintains a considerable degree of control over the operations and processes used by the franchisee, but also helps with things like branding and

Question.d. Core competency & sustained competitive advantage

Answer:Core competencies are the crown jewels of a company and, therefore, should be carefully nurtured and developed. Companies can determine their future business directions based on the strengths of competencies. However, because generalized terms such as resource, asset, capability, and competence are not clearly explained in connection with competence theory, these posing difficulties in understanding many contemporary management concepts. In this paper, the authors provide a summary of the recent management theories by comparing their salient features. They then propose a linking mechanism between assets

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