STRATEGIC MANAGEMENT

SUBMITTED TO,
ALFISHA MA’AM
SUBMITTED BY
ANAM FATIMA

STRATEGIC MANAGEMENT
"Without a strategy, an organization is like a ship without a rudder, going around in circles.
It’s like a tramp; it has no place to go."

MEANING OF STRATEGIC MANAGEMENT

Strategic Management is all about identification and description of the strategies that managers can
carry so as to achieve better performance and a competitive advantage for their organization. An
organization is said to have competitive advantage if its profitability is higher than the average
profitability for all companies in its industry.

1.VISION
A vision statement identifies where the organization wants or intends to be in future or where it
should be to best meet the needs of the stakeholders. It describes dreams and aspirations for future.
For instance, Microsoft’s vision is “to empower people through great software, any time, any place,
or any device.” Wal-Mart’s vision is to become worldwide leader in retailing.

2. Mission Statement
Mission statement is the statement of the role by which an organization intends to serve it’s
stakeholders. It describes why an organization is operating and thus provides a framework within
which strategies are formulated. It describes what the organization does (i.e., present capabilities),
who all it serves (i.e., stakeholders) and what makes an organization unique (i.e., reason for
existence).
A mission statement differentiates an organization from others by explaining its broad scope
of activities, its products, and technologies it uses to achieve its goals and objectives. It talks
about an organization’s present (i.e., “about where we are”). For instance, Microsoft’s
 mission is to help people and businesses throughout the world to realize their full
potential. Wal-Mart’s mission is “To give ordinary folk the chance to buy the same thing as
rich people.” Mission statements always exist at top level of an organization, but may also
be made for various organizational levels. Chief executive plays a significant role in
formulation of mission statement. Once the mission statement is formulated, it serves the
organization in long run, but it may become ambiguous with organizational growth and
innovations.
In today’s dynamic and competitive environment, mission may need to be redefined.
However, care must be taken that the redefined mission statement should have original
fundamentals/components. Mission statement has three main components-a statement of
mission or vision of the company, a statement of the core values that shape the acts and
behaviour of the employees, and a statement of the goals and objectives.

Features of a Mission
a. Mission must be feasible and attainable. It should be possible to achieve it.
b. Mission should be clear enough so that any action can be taken.
c. It should be inspiring for the management, staff and society at large.
d. It should be precise enough, i.e., it should be neither too broad nor too narrow.
e. It should be unique and distinctive to leave an impact in everyone’s mind.
f. It should be analytical, i.e., it should analyze the key components of the strategy.
g. It should be credible, i.e., all stakeholders should be able to believe it.

Goals and Objectives

Goals make mission more prominent and concrete. They co-ordinate and integrate various
functional and departmental areas in an organization. Well made goals A goal is a desired future
state or objective that an organization tries to achieve. Goals specify in particular what must be done
if an organization is to attain mission or have following features -

a. These are precise and measurable.

b. These look after critical and significant issues.
c. These are realistic and challenging.
d. These must be achieved within a specific time frame.
e. These include both financial as well as non-financial components.

Objectives are defined as goals that organization wants to achieve over a period of time. These are
the foundation of planning. Policies are developed in an organization so as to achieve these
objectives. Formulation of objectives is the task of top level management. Effective objectives have
following features-

a. These are not single for an organization, but multiple.

b. Objectives should be both short-term as well as long-term.
c. Objectives must respond and react to changes in environment, i.e., they must be flexible.
d. These must be feasible, realistic and operational.
 WORK AND RESPONSIBILITIES IN AN ORGANISATION
CEO - The chief executive officer (CEO) oversees the entire operation of a company or
organization. A CEO is responsible for coordinating effective operating, marketing, financial,
cultural and legal strategies that maximize shareholder value.
In some organizations, the CEO is called the president, the executive director or even the chief
administrative officer, though many organizations have a CEO and people with these titles, too. In
small companies, especially start-ups, the CEO does everything. As organizations get bigger, CEOs
delegate duties to subordinates.
In most cases, the company's board of directors hires and evaluates the CEO. The board of
directors is elected by the shareholders and has a duty to protect and preserve the interests of the
shareholders. The CEO informs the board of the company's activities and plans on a regular .The
CEO often has a seat on the board of directors, but the board can also fire the CEO -- that is, the
CEO "serves at the pleasure of the board."
Good CEOs have skills in a variety of areas, but the CEO's job is not to be an expert in every area of
a business. The CEO must focus on the broader picture and lead an entire organization towards a
strategic goal. There are a variety of ways to measure CEO performance, but most boards look at
changes in share price and company strategy.

CEOs have four general responsibilities

1. Optimize Financial Performance.

2. Optimize Overall Strategy.
3. Develop Corporate Culture.
COO - Roles and responsibilities of the COO vary, depending not only on the organization for
which they work but also on how that company defines the position. There isn't one agreed-upon list
of what the job entails, and the role may also have different titles depending on the organization.

A COO may be hired to accomplish some or all of the following tasks or objectives:

 Execute strategies developed by the top management team

 Lead a specific strategic imperative
 Show the ropes to an inexperienced CEO
 Complement a CEO’s experience or management style
 Provide a partner to a CEO who does not work well alone
 Groom the organization’s next CEO or test the individual to make sure he or she is right for
the job
 Promote someone they don’t want to lose

Often, companies turn responsibility for all areas of business operations over to the COO, and this
typically includes production, marketing and sales, and research and development. In some firms,
the COO job is to be internally focused, while the CEO is externally focused. In other firms, the COO's
mission is focused on a specific business need.
CFO - The primary job responsibility of the Chief Financial Officer (CFO) is to optimize the financial
performance of a company, including its reporting, liquidity, and return on investment. This guide
will answer the question of, “What does a CFO do?”

Within a company, these responsibilities fall into departments typically known as the controller’s
group, treasury, and financial planning and analysis (FP&A).

1. Reporting
Reporting takes up a lot of a CFO’s time, and this responsibility typically resides in the Controller’s
group.  This team of professionals prepares all of the company’s historical financial reports required
for shareholders, employees, lenders, research analysts, governments, and regulatory bodies.  This
group is responsible for ensuring all reporting is prepared in an accurate and timely manner.

2. Liquidity
The CFO needs to ensure the company is able to meet its financial commitments and manage cash
flow in the most efficient way.  These responsibilities are usually carried out by the treasury group,
which is often smaller than the reporting team.  This group is tasked with managing the company’s
cash balance and working capital, such as accounts payable, accounts receivable, and inventory.
They also carry out the issuing of any debt, managing investments, and handle other liquidity-related
decisions.

3. Return on Investment
The third thing a CFO does is help earn the company earn the highest possible risk-adjusted return
on assets and return on capital (or return on equity).  This is where the financial planning and
analysis – FP&A team – comes in to help the CFO forecast future cash flow of the business and then
compare actual results to what was budgeted.  The FP&A team play a critical role in analytics and
decision making in the business.

If the company has a corporate development team, they also play a big part in creating (or
attempting to create) optimal investment returns for the business.
CIO - A chief information officer (CIO) is the corporate executive in charge of information
technology (IT) strategy and implementation.

In addition to overseeing the hardware, software and data that helps other members of the C-suite
do their jobs effectively, the CIO must research new technologies, strategize how technology can
provide business value and address the risks associated with digital information.

CIOs must lead their companies’ digital transformation — which requires much more than
technology leadership. The technical side of operations — communications networks, software
applications, and data management and security — must still run smoothly, CIOs must also adopt
new practices and missions if they’re to evolve into transformative digital leaders.
 Chief Technology Officer (CTO)

The Chief Technology Officer (CTO) is the individual within an organization who oversees the current
technology and creates relevant policy. A CTO should have the business knowledge necessary to
align technology-related decisions with the ZBB organization's goals.

Key responsibilities

Specifics of the CTO's job responsibilities vary from one organization to another. The following are
the typical standard requirements in a CTO job description:

Tech strategy:

 Monitor technological, social and scientific trends that could influence the company's
business goals.

 Identify opportunities and risks for the business.

 Participate in management decisions about corporate governance.

Research and development:

 Research and recommend the most effective content management systems (CMS).

 Maintain current information about technology standards and compliance regulations. 

 Manage research and development of technology, IT assets and associated revenue.

Evangelism:

 Communicate the company's technology strategy to partners, management, investors and

employees. 

 Assist with the recruitment, retention, acquisition and sales efforts of the company. Build
relationships with vendors, communities and customers.
CRO contract research organizations
 A contract research organization (CRO) is an entity that extends support to the pharmaceutical,
biotechnology and medical device industries in the form of research services outsourced on an
agreement basis. A CRO may offer such services as biopharmaceutical development, product
commercialization, clinical research endeavor, clinical trials conduct, pharmacovigilance and biologic
assay development. Contract research organization also support research institutions, traditional
universities in addition to governmental institutes.

Many Contract research organization exclusively provide clinical-trial and clinical-study support for
drugs and medical device companies. Contract research organization range from big, global full-
service organizations to small,niche subject groups. Contract research organization that focus on
clinical-trials services can provide their clients the capability of promoting a new treatment or
medical device from its conception to marketing approval, without the sponsor having to keep up
staff for these activities. Ultimately the sponsor grasps the purse strings and it is left to the CRO to
ally their tasks to make sure trials are conducted in a time bound manner and to impart confidence
not only in the sponsor but also in each other.
Well-organized project management will be a reality when there are definite requirements
delineated by the sponsor to CRO and this will mitigate the threat of delayed supplies and
consequently lower the possibility of study time limits being missed.
 A CRO is proficient in composite development programs demanding novel regulatory and clinical
strategies, and will have expertise in executing and accomplishing successful clinical trials and drug
development programs.
Related posts:

1. Clinical Research Institutes in India

2. Clinical Research Training Course in Rwanda, Botswana, Nigeria
3. Clinical Research Associate Training.
 CVO - The Chief Vigilance Officer has been authorized to decide upon the existence of
vigilance angle in a particular case at the time of registration of complaint.

1. The Chief Vigilance Officer should screen all the complaints before referring them to CBI.
2. Attending the quarterly meeting with Zonal Joint Director of CBI for preparation of "Agreed List".
3. Keep monitoring on corruption, malpractices and misconduct on the part of employees and take
remedial action.
4. Closely monitoring the case related to criminal misconduct of employees and coordinating with
the CBI for expeditious disposal of such cases.

Preventive
 To examine in detail the existing Rules and procedures of the Organization with a view to
eliminate or minimize the scope for corruption or malpractices.
 To identify the sensitive/corruption prone spots in the Organization and keep an eye on
personnel posted in such area.
 To plan and enforce surprise inspections and regular inspections to detect the systems, its
failures and existence of corruption or malpractices.
 To maintain proper surveillance on officers of doubtful integrity.
 To ensure prompt observance of Conduct Rules relating to integrity of the Officers like
 The Annual Property Returns
 Gifts accepted by the official
 Benami transactions
 Regarding relatives employed in private firms or doing private business etc.
Punitive
Punitive measures include the following:
 To ensure speedy processing of vigilance cases at all stages. In regard to cases requiring
consultation with the Central Vigilance Commission, a decision as to whether the case had a
vigilance angle shall in every case be taken by the Chief Vigilance Officer who, when in doubt, may
refer the matter to his administrative head, i.e. Secretary in the case of Ministries/ Departments and
Chief Executive in the case of Public Sector.
 To ensure that charge-sheet, statement of imputations, lists of witness and documents etc.
are carefully prepared and copies of all the documents relied upon and the statements of witnesses
cited on behalf of the disciplinary authority are supplied wherever possible to the accused officer
along with the charge-sheet.
 To ensure that all documents required to be forwarded to the Inquiring Officer are carefully
sorted out and sent promptly.
 To ensure that there is no delay in the appointment of Inquiring Officer and that no dilatory
tactics are adopted by the accused officer or the Presenting Officer.
 To ensure that the processing of the Inquiry Officer's reports for final orders of Disciplinary
Authority is done properly and quickly.
 To scrutinize final orders passed by the Disciplinary Authorities subordinate to
Ministry/Department, with a view to see whether a case for review is made out or not.
 To see that proper assistance is given to the Central Bureau of Investigation in the
investigation of cases entrusted to them or started by them on their own source of information.
 To take proper and adequate action with regard to writ petitions filed by accused officers.
 To ensure that the Central Vigilance Commission is consulted at all stages when it is to be
consulted and that as far as possible; the time limits prescribed in the Vigilance Manual for various
stages are adhered to.
 To ensure prompt submission of returns to the Commission.
 To review from time to time the existing arrangements for vigilance work in the Ministry/
Department for vigilance work subordinate offices to see if they are adequate to ensure expeditious
and effective disposal of vigilance work.
 To ensure that the competent disciplinary authorities do not adopt a dilatory or negative
attitude in processing vigilance cases, thus knowingly otherwise helping the subject public servants,
particularly in cases of officers due to retire.
 To ensure that cases against the public servants on the verge of retirement do not lapse due
to time-limit for reasons such as misplacement of files etc. and that the orders passed in the cases of
retiring officers are implemented in time.
 To ensure that the period from the date of serving a charge-sheet in a disciplinary cases to
the submission of the report of the Inquiry Officer, should, ordinarily, not exceed six months.
 Joint Secretary & Chief Vigilance Officer holds high level meeting with Central Vigilance
Commission and Central Bureau of Investigation.
 Meetings are also arranged with Heads / Chief Vigilance Officer's of the organizations under
the control of this Department for discussing vigilance environment there and to discuss remedial
measures for problems concerning the vigilance.

5.
DEFINITION