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COAL INDIA LTD.

MISSION OF COAL INDIA LTD.


To produce and market the planned quantity of coal and coal products efciently
and economically in an eco-friendly manner with due regard to safety,
conservation and quality.
VISION
"To emerge as a global player in the primary energy sector committed to provide
energy security to the country by attaining environmentally & socially sustainable
growth through best practices from mine to market."
Strategic Management Process
Strategic management analyzes the major initiatives taken by a company's top management on
behalf of owners, involving resources and performance in external environments. It entails
specifying the organization's mission, vision, and objectives developing policies and plans,
often in terms of projects and programs that are designed to achieve these objectives and then
allocating resources to implement the policies and plans, projects and programs.
!here are five major steps for a company to follow when developing a strategy"
#ssess its competitors and market.
Set goals and strategies based on the company's competitive position.
$eassess each strategy annually or %uarterly &i.e. regularly' to determine how it has
been implemented.
$eassess each strategy to determine whether it has succeeded or needs replacement by
a new strategy to meet changed circumstances. !hese include new technology, new
competitors, a new economic environment, or a new social, financial, or political
environment.
(valuate and control the business and the industries in which the company is
involved .
Assessing Competitors and Market Conditions
!he first step involves performing a situation analysis, self)evaluation, and competitor
analysis*both internal and external, and both micro)environmental and macro)
environmental. +hen assessing competitors, consider determining what makes a competitor
attractive to its customers and what your company can learn from that competitor's success.
#lso, consider what your potential customer needs. ,o your customers enjoy every aspect of
your product or service- +hat bothers them about ac%uiring or using your product- Is there
any way that the business can improve the user's experience-
Setting Goals
.oncurrent with the competitor assessment, short) and long)term objectives are set. !he
objectives can cover a variety of different areas, from production targets to how to reach out
to potential new customers. !hese objectives should include completion dates.
Implementation
Implementation plans then detail how the objectives are to be achieved. Implementing a
strategy involves organizing, resourcing, and employing change management procedures. !his
may re%uire organizational changes, such as creating new units, merging existing ones or even
switching from a geographical structure to a functional one or vice versa. #dditionally,
implementation may re%uire significant budget shifts, impacting human resources and capital
expenditure.
# visua
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