Spring / Feb 2013 Master of Business Administration - MBA Semester 4 MB0052 - Strategic Management and Business Policy Assignment

(60 Marks) Q1. Explain the corporate strategy in different types of organization. Corporate Strategy This is regarding the general function and scope of the business to meet the stakeholder's expectations. As it is significantly influenced by the investors in the business, it is also called the critical level strategy. Corporate strategy performs the following functions: It provides a dual approach to problem solving. Firstly, it exploits the most effective means to overcome difficulties and face competition. Secondly, it assists in the deployment of scarce resources among critical activities. It focuses attention upon changes in the organizational set up, administration of organizational process affecting behaviour and the development of effective leadership. It offers a technique to manage changes. The management is totally prepared to anticipate, respond and influence to look at changes. It also offers a different way of thinking. It furnishes the management with a perspective whereby, the latter gives equal importance to present and future opportunities. It provides the management with a mechanism to cope with highly complex environment characterized by diversity of cultural, social, political and competitive forces. Kinds of Corporate Strategy There are four grand strategic alternatives. They are Stability Expansion Retrenchment Any combination of these three. These strategic alternatives are also called as grand strategies. Brief descriptions about them are as follows: a) Stability Strategy- It is adopted by an organization when it attempts to improve functional performance. They are further classified as follows: 1 i) No change strategy ii) Profit strategy iii) Pause/Proceed with caution strategy b) Expansion Strategy: It is followed when an organization aims at high growth. Q2. What is the role consultants play in the strategic planning and management process of a company? Is it an essential role? The term strategic planning came into existence which is currently being used to describe a phase of strategic decision-making.

Strategic management model is generally known as strategic planning model. A strategic planning model is selected to devise and implement the strategic management plan of a particular organisation. However, it has been proved that no strategic planning model is perfect. Every company regularly designs its own strategic planning model by choosing a model and transforming it as the company proceeds to formulate its strategic management plan procedures. Organisations can choose from a large number of strategic planning model options that are available. Strategists are the individuals involved in the strategic management process. They craft the strategy to be implemented in the organisation, think, plan, and implement relevant strategy in the organisation to obtain a long term goal. "Strategists are the silent partners in strategic literature". The role of strategists in decision making varies according to the different management levels in the organisation The strategic management process requires competent individuals to ensure its success. Therefore to craft the strategic management, strategists will analyse the position of strategic decisions made in the organisation. Generally top management, board of directors and planning staff are the most significant individuals involved in strategic management process in organisations. Role of strategists at various management levels The various management levels where the roles of strategists can be seen include. Top level management Board of directors Planning staff Top level management The overall responsibility of the organisation rests on the top level management. Top level management relatively refers to a small group of people which includes president, chief executive officer, vice president, and executive vice president.

Board of directors Most of the organisations consist of board of directors elected by stakeholders. They are bestowed with ultimate authority and responsibility. Typically a chairperson is elected in the board of directors who is responsible for overseeing business activities, and they form standing committees which meet regularly to conduct their business. Planning staff Planning staff, usually called as planning staff personnel are a group of people assigned by the top level management. They plan the levels of strategies to be implemented in a sequential order. Planning staff are the sub-ordinate team to the top level management. Planning staff management and top level management work flow goes hand in hand for planning and developing strategic management. Q3. What is strategic audit? Explain its relevance to corporate strategy and corporate governance. Remaining answers are available in the full assignments. For full assignments contact us: Global Education Rajdeep: 098662 48187 /077958 40110

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