Subject : Business Strategy

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

 

Name : Veerthapa                                                                                                                             Marks : 80

Course : Masters in Business Administration (MBA 4 Sem)

Subject : Business Strategy

Answer the following question.

Question. 1. Discuss the structural implementation and behavioral implementation. (10 marks)

Answer:Strategy implementation is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is also defined as the manner in which an organization should develop, utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to competitive advantage and a better performance. Organizational structure allocates

Question. 2. What is the VRIO frame work? (10 marks)

Answer:VRIO is a business analysis framework that forms part of a firm's larger strategic scheme. The basic strategic process that any firm goes through begins with a vision statement, and continues on through objectives, internal & external analysis, strategic choices (both business-level and corporate-level), and strategic implementation. The firm will hope that this process results in a competitive advantage in the marketplace they operate in.

VRIO falls into the internal analysis step of

Question. 3. Write a short note on value chain analysis. (10 marks)

Answer: Value chain analysis is a strategy tool used to analyze internal firm activities. Its goal is to recognize, which activities are the most valuable (i.e. are the source of cost or differentiation advantage) to the firm and which ones could be improved to provide competitive advantage. In other words, by looking into internal activities, the analysis reveals where a firm’s competitive advantages or disadvantages are. The firm that competes through differentiation advantage will try to perform its activities better than competitors would do. If it competes through cost advantage, it will try to perform internal activities at lower costs

Question. 4. Discuss about differentiation strategy. (10 marks)

Answer:A differentiation strategy calls for creating a product or service with sufficiently distinctive attributes that it sets your business apart from the competition. If your differentiation strategy works, you may be able to charge your customers a premium for your product or service. However, such a strategy may backfire without sufficient market acceptance. You also face other risks that can impact your bottom line.

Differentiation: Every company would like to think that it stands apart from the competition in the eyes of its customers. A company that

Question. 5. What is the role of the corporate parent? (10 marks)

Answer:A corporate parent is an organisation or person in power who has special responsibilities to care experienced and looked after children and young people, a group that includes:

·       those in residential care

·       those in foster care

·       those in kinship care, who live with a family

Question. 6. Explain a model of change process. (10 marks)

Answer:Organizational change does not have to be a complex process. In fact, Kurt Lewin did it in just three steps. This lesson discusses the three stages of organizational change according to Lewin, including unfreezing, changing and refreezing.

Kurt Lewin's Change Model: Kurt Lewin developed a change model involving three steps: unfreezing, changing and refreezing. The model represents a very simple and practical model for understanding the change process. For Lewin, the process of change entails creating the perception that a change is needed, then moving toward the new

Question. 7. What is Core Competency? (10 marks)

Answer:A core competency is a concept in management theory introduced by, C. K. Prahalad and Gary Hamel. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace".

Core competencies fulfill three criteria:

·       Provides potential access to a wide variety of markets.

·       Should make a significant contribution to the

Question. 8. What is Strategy? (10 marks)

Answer:Strategy (from Greek στρατηγία stratēgia, "art of troop leader; office of general, command, generalship") is a high level plan to achieve one or more goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including "tactics", siegecraft, logistics etc., the term came into use in the 6th century C.E. in East Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a

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