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KEY TAKEAWAYS

Submitted to: Prof. Rajesh
Pillania

and she tries to make it back to Chicago as fast as she can. A strategy tells everyone "this is how our organization is going to move forward". tasks and objectives just play their parts in helping you get there. Real Life Example: 8-year-old Kevin McCallister is accidentally left behind when his family takes off for a vacation in France over the holiday season.imdb.com/title/tt0099785/plotsummary . Kevin's mother Kate is frantic when she realizes that she and the family have unintentionally left Kevin behind in Chicago. who are planning to rob every house in Kevin's suburban Chicago neighborhood. getting help from a polka band leader named Gus Polinski. It is a set of coherent actions. Source: http://www. Strategy outlines the direction and the purpose (why you are going there) ~ the goals. Kevin learns to fend for himself. Doing strategy is actually figuring out how to advance an organization’s interests. not to be confused with details of the actual implantation of that strategy (that would be 'goal setting').A strategy is a cohesive response to an important challenge. Once he realizes they've left him home by himself. Business leaders are very good at setting goals and assigning tasks to their teams in order to get a specific thing done. but that is NOT strategy. He eventually has to protect his house against bumbling burglars Harry and Marv.

Real Life Example: Lakshmi Mittal. For contrast. global distribution and marketing strategies. The company’s corporate strategy. time duration. Mr. compare them to estimating assumptions are those factors that are the basis of assumptions for cost. This compares to 116 million tons produced by Arcelor and Mittal today. 2006 In this quote. The steel industry consolidation is under way and I have repeatedly said that by 2015. President of Arcelor Mittal Steel. made his own personal strategic assumption about the future structure of the steel industry very clear in the following quote: “I strongly believe that in the steel industry. if invalid. I expect each of the two to three largest global players to produce 150 million to 200 million tons of steel a year. Arcelor Mittal will be three times the size of its nearest competitor.” Wall Street Journal.Strategic assumptions are those critical factors that. or resource commitments. are all built upon this fundamental strategic assumption. M&A activities. would cause termination or significant changes to the initiative. August 3. Mittal clearly communicates one of his strategic assumptions about the future of the steel industry. scale is a crucial ingredient in the pursuit of value. .

it is for a proper tournament. . and have begun to open up their markets and "emerge" onto the global scene. are usually considered emerging because of their developments and reforms. countries that fall into this category.com/publication/strategic-assumptions-the-essential-andmissing-element-of-your-strategic-plan/ "Emerging market" is loosely defined. India has emerged as new market for football. Both China and Tunisia belong to this category because both have embarked on economic development and reform programs. like Tunisia. As per various Soccer premier league in the world. now. So far. Hence. the procession of top footballing stars to Kolkata and elsewhere has been largely for exhibition games. even though China is deemed one of the world's economic powerhouses.Source:http://iveybusinessjournal. varying from very big to very small. Real Life Example: The unveiling of India Super League is the latest sign of India’s growing significance in sports other than cricket—especially football. it is lumped into the category alongside much smaller economies with a great deal less resources.

imagination and initiative in deriving greater or different values from resources. can be folded out into a fully-functioning desk that is comfortable for children to sit at so they can focus on what's important . . but Help Desk is a reality and it's helping kids in rural India get the education they deserve. Real Life Example: THE CARDBOARD SCHOOLBAG THAT TURNS INTO A DESK A schoolbag that turns into a desk may sound a little farfetched. To be called an innovation. innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers. the briefcase-like school bag. The creative solution is a joint effort by the nonprofit Aarambh and the marketing company DDB India.Source: https://en.wikipedia. Made from discarded carton. In business.learning. Innovation involves deliberate application of information.org/wiki/Indian_Super_League The process of translating an idea or invention into a good or service that creates value or for which customers will pay. an idea must be replicable at an economical cost and must satisfy a specific need. and includes all processes by which new ideas are generated and converted into useful products.

Source: https://www.com/3031124/a-brilliantly-simple-design-transforms-old-boxes-intoschool-desks-and-bags What does The Medici Effect mean? The Medici effect refers to a phenomenon that occurs when a number of talented. and intersectional. fascinating. philosophers.fastcoexist. initiative. It draws on the history of the wealthy Medici family. . whose patronage brought poets. Example: Volvo’s Vision for Collision Safety Based on the African Grasshopper’s Vision Volvo has delved into a new. a period of human history marked by great innovation. painters and other artisans from around Europe to Florence. scientists. The idea comes from a book by Frans Johansson by the same name. The car company’s vision is to develop a collision safety system for automobiles based on the African grasshopper’s ability to not collide when it flies in swarms. creative and productive people from different fields are brought together and are able to collaborate to create something innovative and new. Italy. Bringing these talented people together and allowing themto collaborate is believed to have kicked off the Renaissance period. between the 13th and 17th centuries.

He feels that the discovery about the locust’s radar system has the potential of yielding information that could be used to develop new technology to cut down on road traffic accidents. services. yet never once collide with each other. which allows it to move out of the way quickly.Scientists have discovered that the African locust has a unique internal radar system composed of a giant movement detector behind the eyes. The detector releases bursts of energy when the locust is on a collision course. and transportation) that take place between two or more regions. Real Life Example: Coca-Cola . The term "international business" refers to all those business activities which involve cross-border transactions of goods. private companies undertake transactions for profit.com/ International business comprises all commercial transactions (private and governmental. preventive safety leader at Volvo Safety Division. Source: http://themedicieffect. resources between two or more nations. banking. construction etc. Jonas Ekmark. logistics. people etc. insurance. points out how amazing it is that these grasshoppers can fly around in a chaotic swarm. governments undertake them for profit and for political reasons. sales.typepad. Transactions of economic resources include capital. The visual input is instantly transmitted to the insect’s wing nerve cells – seemingly bypassing the brain. looking for food. countries and nations beyond their political boundaries. Usually. skills. investments. for international production of physical goods and services such as finance.

including Sprite. Source: https://www. it also manufactures other beverages and non-alcoholic drinks. For many companies this has had a significant backlash. . Dasani water. however.The original Coca Cola was invented in 1886 by a pharmacist named John Pemberton. Nestea. The Coca-Cola brand. Minute Maid. however. until 1892 by another pharmacist named Asa Candler. Candler purchased the Coca-Cola brand and formula in 1889. the highly successful marketing of the CocaCola brand is the main factor which makes it stand apart from other beverage companies. nearly from the beginning. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack the multigenerational dimension and family influence that create the unique dynamics and relationships of family businesses.marcaria. there are also 500 additional brands. in addition to Coca-Cola. Today Coca-Cola is considered an American icon. In recent years the soda industry has been the source of much negative focus. It's unique taste and secret formula are a part of what makes it different from its competitors. has managed to maintain its standing at the top of the industry. Although Coca-Cola manufactures sodas. that fall beneath the umbrella of the Coca-Cola brand. Tab.asp A family business is a commercial organization in which decision-making is influenced by multiple generations of a family—related by blood or marriage —who are closely identified with the firm through leadership or ownership. however. The company's success is largely due to branding and smart marketing. In fact. and Powerade. marketed itself as an All-American company and a major part of Americana. It has.com/top-5-most-successfulinternational-businesses. The company was not incorporated.

wikipedia.and 3-wheelers). Bajaj Electricals. The group comprises 36 companies and its flagship company Bajaj Auto is ranked as the world's fourth largest two and three-wheeler manufacturer. travel and finance. Bajaj Hindusthan Ltd and Bajaj Holding & Investment Ltd. Maharashtra. home appliances. Hercules Hoists Ltd. Some of the notable companies are Bajaj Auto Ltd. lighting. Bajaj Group is one of the oldest and largest conglomerates based in Mumbai. The group has involvement in various industries that include automobiles (2. Source: https://en. Bajaj Finserv Ltd. insurance. iron and steel. Mukand Ltd.org/wiki/Bajaj_Group .Real Life Example: Bajaj Group Bajaj Group is an Indian conglomerate founded by Jamnalal Bajaj in Mumbai in 1926.