TOPIC : STRATEGIC MANAGEMENT

PROCESS
Group D (1)
SR. NO. NAME ROLL
NO.
1 Krishnat chougale 09
2 Hemant Dhandre 10
3 Nitin Kankal 26
4 Jini Joseph 38
5 Chandrakant Patil 40
6 Pramod Sawant 49
7 Pushkar Ujjainkar 58
 Contents
Sr.No. Name of the Topic
1 Strategy : Meaning & Definition
2 Strategic Management : Meaning, Definition, Key attributes
3 Features of Strategic Management
4 Needs of Strategic Management
5 Importance of Strategic Management
6 Limitations of Strategic Management
7 Vision with example
8 Mission with example
9 Goal
10 Philosophy with example
11 Policies with example
12 Strategic Management Process
13 Brief Questions
14 Short Notes
15 Bibliography
 “Strategy”
Dictionary meaning : A plan designed to achieve
a long term aim.

What is Strategy?
• Large-scale, future-oriented plan for interacting with
the competitive environment to achieve objectives
• Company’s “game plan”
• Framework for managerial decisions

• Definition : “The determination of the basic long

term goals and objectives in an enterprise an the
adoption of the courses of action and the allocation
of resources necessary for carrying out these goals.”
- Alfred Chandler
• What is Strategic Management?
The set of decisions and actions that result in the
formulation and implementation of plans designed to
achieve a company’s objectives.
• Definition: “Strategic management consists of the
analysis, decisions, and actions an organization
undertakes in order to create and sustain competitive
advantages.”
• Key attributes of Strategic Management:
- Directs the organization toward overall goals and
objectives.
- Involves the inclusion of multiple stakeholders in
decision making.
- Needs to incorporate short-term and long-term
perspectives.
- Recognizes relation between efficiency and
effectiveness.
• Features of Strategic Management :
1. Systematic process
2. Relates to environment
3. Focus on objectives
4. Involves multiple decision
5. Continuous process
6. Top management function
7. Universal applicability
• Need of Strategic Management:-
1. Due to change
2. To provide guidelines
3. Research and development
4. Probability for business performance
5. Systemized decision
6. Improves Communication
7. Allocation of resource
8. Improves Coordination
9. Helps the managers to have holistic approach
• Importance of Strategic Management:-
1. Aids decision-making
2. Improves employees efficiency
3. SWOT Analysis
4. Aids in planning
5. Organizing resources
6. Helps in evaluation
7. Facilitates communication and coordination
8. Helps to face competition
• Limitations of Strategic Management :
1. Based on certain assumptions
2. External environment can’t be analyzed accurately
3. Unrealistic mission & objectives
4. Lack of proper implementation
5. Lack of proper evaluation
6. Lack of commitment on the part of lower level
Management
7. Lack of people with vision & dedication
 Business Vision Statement
A vision statement is a concise word picture of
the organization at some future time, which
sets the overall direction of the organization.
• A statement that clearly defines the firm’s “reason”
for being in business.
• A vision statement is something to be pursued.
• It is what the organization strives to be.
• An image of the desired future.
• Influenced by the strengths and weaknesses of the
business
• Microsoft Corporation : To establish Microsoft as a
global leader in diversity and inclusion by driving
global executive leadership, engagement, and
accountability and by increasing workforce diversity
at all levels, building value and commitment for
work-life balance, and building capabilities for people
and organizations.
• Nestle : Our aim is to meet the various needs of the
consumer every day by marketing and selling food of
a consistently high quality.
 Mission Statements
• The mission statement of an organization is
normally short, to the point, and contains the
following elements:
– Provides a concise statement of why the organization
exists, and what it is to achieve;
– States the purpose and identity of the organization;
– Defines the institution's values and philosophy; and
– Describes how the organization will serve those
affected by its work.
• Microsoft Corporation : Microsoft strives to
understand, value, and incorporate the differences
each employee brings to the company so that we
can build the greatest multicultural workplace in the
technology industry and reflect the growing
diversity and inclusion of our communities and the
global marketplace.
• General Motors : The fundamental purpose of GM is
to provide products and service of such quality that
our customers will receive superior value, our
employees and business partners will share in our
success, and our stockholders will receive a
sustained, superior return on their investment .
• Goals :
- It is the target or destination of each performance.
- Is an attempt to make a mission statement more
tangible and more concrete.
- It reflects the firms intention to secure survival
through growth and profitability.

• Apple Technologies Ltd :

Make complex technology easy to use.
• Philosophy :
An organizational philosophy establishes the values,
beliefs and guidelines for the manner in which the
organization would conduct its business.
• IBM’s Philosophy :
-Respect for individual.
-Best customer service.
-Pursue all tasks in a superior fashion.
• The management philosophy of Godrej can be
expressed in a single word: “PRIDE”
-Passion
-Respect for people
-Integrity
-Dedication
-Extraordinary Creativity
• Policies :
- Policies are rules or guidelines to action.
- General statements that guide decision making.
- Ensures consistent decisions.
- Help define issues before they become problem.
- Help in delegation of authority.
 Quality policy of Godrej
• At Godrej , we have an obligation to work and
provide only the best and ever-improving
products and services. To achieve this, we have a
few policies, including one for quality, which each
employee follows. We shall satisfy the stated
needs of our customers and shall endeavor to
fulfill their implied needs with utmost delight. We
shall do this by enhancing the total quality of our
products through:
• Continuous improvement in machinery &
processes,
• Creatively collaborating with vendors,
• Nurturing, developing and empowering our
people,
• Finding new ways to satisfy customer needs, and
• Value Engineering & Value Analysis.
• Strategic Management Process :
- Developed by top management for achieving long
term objective.
1. Scanning the environment
2. Objective setting
3. Strategic planning
4. Corporate strategy
5. Business policy
6. Long term planning
7. Functional strategy or action plan
8. Monitoring & evaluation
1. Scanning the environment
- Face environmental changes
- Make best from this changes
- Social, economic, technological changes
are predictable
- Geographical and political changes are not
easily predictable
- Top management must keep pace with the
technological environment
- Provides information about opportunities and
threats
2. Objective setting:
- Scanning of environment facilitates objective setting
- Objective is at the root of strategic management
- To achieve objectives strategic planning is needed.
3. Strategic planning :
- Set of plans are produced at intervals for specific
time periods
- Continuous process
- 4 elements of strategic planning
a. understand your business
b. understand your environment
c. prepare a roadmap
d. execution
4. Corporate strategy :
- Management plans to carry out activities using it’s
resources within it’s environment to achieve it’s
objectives.
- Guided by business policy of top management
- Alternative strategies can be examine.
- Minor and major strategies
- Formulated at corporate level
- Must identify
Corporate competence & resources
Market opportunity & potentiality
Operational efficiency
Social obligations & environmental force which
affects company’s opportunities
- Improve corporate capability and image
5. Business Policy :
- Policy is total philosophy of company.
- Basic elements are :
• Objectives
• Environmental analysis
• Situation of firm
• Corporate strategy
• Time element
- With the changes in time, business policies change
6. Long term planning :
- Part of strategic management
- Indian companies hesitate (uncertainties &
environment)
- Greater uncertainties leads to greater risk which
leads to greater need for long-term planning
- Help to compete with foreign companies
7. Functional Strategy & Action Plan :
- Integrates strategies for functional areas
- Detailed strategies at each functional areas
8. Monitoring and Evaluation :
- To accomplish objectives effectively
- Provide direction to implement corporate policies
- Evaluation is carried out to determine qualitative
and quantitative performance
- Actual performance is compared with standard
performance
- Helps to determine contribution from functional
areas
- In event of failure proper system of appraisals are
used.
 Brief Questions

Q.1. What is Strategic Management? How is the study

of Strategic Management helpful for a business
manager ?
Q.2. Define Strategic Management. Explain its
features ?
Q.3. What is the importance of strategic management ?
Q.4. Explain the process of strategic management?
Q.5. State the vision, mission & objectives of any two
organisations ? Give comments ?
 Short Notes
Q.1. Key attributes of strategic management.
Q.2. Need of strategic management.
Q.3. Limitations of strategic management.
Q.4. Vision & mission with examples.
Q.5. Business policy.
 Bibliography
1. Strategic Management, S.K. Sarangi, Everest
publishing House
2. Strategic Management, Michael Vaz, Manan
Prakashan
3. Globalization, liberalization and strategic
management, V.P. Michael

Websites :
1. WWW.123management.net
2. WWW.Citehr.com
3. WWW.Managementparadise.com
4. WWW.iveybusinessjournal.com
5. WWW.Wikipedia.com
THANK YOU