Strategic Management and Business Policy
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Q1. Explain the corporate strategy in different types of organization.Ans: Corporate Strategy in Different Types of Organizations
A well-formulated strategy is vital for growth and development of any organization
whether it is a small business, a big private enterprise, a public sector company, amultinational corporation or a non-profit organization.
Q2. What is the role consultants play in the strategic planning and management process of a company? Is it an essential role?
Management consultants can play very useful roles in the strategic planning process of acompany. Consultants render services in different functional areas of management includingthe strategic planning and management process.
Q3. What is strategic audit? Explain its relevance to corporate strategy and corporategovernance.Ans:
Donaldson (1995) has suggested ‘strategic audit’ as a new tool for systemati
c review of strategy by board members without directly involving themselves with management of companies.
Q4. What is Corporate Social Responsibility (CSR)? Which are the issues involved inanalysis of CSR? Name three companies with high CSR rating.Ans:
External stakeholders of an organization are too many and varied and many of themrepresent different sections or social groups.
Q5. Distinguish between core competence, distinctive competence, strategic competenceand threshold competence. Use examples.Core Competence
Core competence of a company is one of its special or unique internal competence. Core
competence is not just a single strength or skill or capability of a company; it is ‘interwovenresources, technology and skill’ or synergy culminating in
to a special or core competence.
Q6. What is global industry? Explain with examples, international strategy, multi-domestic strategyglobal strategy and transnational strategy.Ans: Global industry