ANS1) Synergy is the concept that the value and performance of two companies combined will be greater than the sum of the separate individual parts, If two companies can merge to create greater efficiency or scale, the result is what is sometimes referred to as a synergy merge. The expected synergy achieved through a merger can be attributed to various factors, such as increased revenues, combined talent and technology, and cost reduction. In addition to merging with another company, a company can also create synergy by combining products or markets, such as when one company cross-sells another company's products to increase revenues. Companies can also achieve synergy between different departments by setting up cross-disciplinary workgroups in which teams work cooperatively to increase productivity and innovation. Understanding Synergy Mergers and acquisitions (M&A) are made with the goal of improving the company's financial performance for the shareholders. Two businesses can merge to form one company that is capable of producing more revenue than either could have been able to independently, or to create one company that is able to eliminate or streamline redundant processes, resulting in significant cost reduction. Because of this principle, the potential synergy is examined during the M&A process. If two companies can merge tocreate greater efficiency or scale, the result is what is sometimes referred to as a synergy merge. Shareholders will benefit if a company's post-merger share price increases due to the synergistic effect of the deal. The expected synergy achieved through the merger can be attributed to various factors, such as increased revenues, combined talent and technology, and cost reduction. Real World Example of Synergy When Proctor & Gamble Company acquired Gillette in 2005, a P&G news release cited that "the increases to the company's growth objectives ave driven by the identified synergy opportunities from the P&G/Gillette combination. The company continues to expect cost synergies of approximately #1 to $1.2 billion..and an increase in the annual sales run-rate of about #750 million by 2008." In the same press release, then P&G chair, president, and chief executive AG. Lafley stated, "...we are both industry leaders on our own, and we will be even stronger and even better together." This is the idea behind synergy—that by combining two companies the financial results are greater than what either could have achieved alone. THE FOLLOWING ARE THE MAIN TYPES OF SYNERGIES THAT CORPORATIONS ENJOY: 1. Marketing synergyMarketing synergy vefers to the marketing benefits that two parties in an M&A transaction may enjoy when promoting their products and services. These synergies include information campaigns, marketing tools, research and development, as well as marketing personnel. 2. Revenue synergy When two companies merge, they often become synergistic by virtue of generating more revenues than the two independent companies could produce on their own. The merged company may gain access to more products and services to sell through an extensive distribution network. SYREN GY The combined entity also stands to benefit from various financial synergies such as access to debt, tax savings, and cash flow. A merged company achieves a strong asset base inherited from the former companies, which allows the company to access credit facilities and use the combined assets as collateral. It reduces the level of gearing since the company can use debt rather than equity that reduces the percentage of ownership stakes of the founders/owners. 4. Management, When two companies merge, there is a reorganization of the management teams. Depending on the goals and character of themanagement team members, the synergistic effect may be positive or negative. When the management teams of both parties to the merger work in harmony, the company will experience better service delivery, proper utilization of resources, improvement in employee motivation, and more opportunities for growing the business. A merger can also reduce job duplication and multiple levels of management. 5. Cost. synergy Cost synergy is the expected cost savings on operating expenses from the merger of two companies. Typically, when two companies merge to form one company, the combined company will enjoy synergistic cost benefits brought by the parties to the merger. EVALUATION AND ASA COMPONENT. OF. STRATEGY:- Synergy exists when the firm's businesses, product-markets, resource deployments, and competencies complement and reinforce one another. Synergy enables the total performance of the related businesses to be greater than it would otherwise be: the whole becomes greater than the sum of its parts. In business, people may choose either to work together as a team or work separately to attain goals. Synergy occurs when a company chooses to utilize teams to increase performance, drive strategic growth and reach common goals. Companies may use a synergistic approach toenhance communications, promote knowledge sharing, streamline processes and bridge the generation gap. 1. Enhance. Communications: Synergy extends communications across departments, and teamwork is encouraged to reach strategic goals. For example, the sales department and IT department work together and shave skill sets to create a new customer service portal and increase market share. A company that promotes synergy could use technology, such as tablet computers and video conferencing, to provide mobility, ease of access and real-time discussions. This may help employees improve communication skills and deliver exemplary customer service. Knowledge sharing permits feedback from co-workers and collaboration between internal and external stakeholders. Synergy may involve the of use customer relationship management products such as Salesforce.com and social networking sites such as Facebook, Twitter and LinkedIn to facilitate the exchange of ideas and to solidify relationships. When individuals work together in a synergistic fashion, expectations, rules and best practices are apparent. This environment fosters learning and growth and spurs innovation, which is advantageous to a company’s competitive standing and strategic value.5. Streaming. Process Collaboration and knowledge sharing across the organization can lead to business process improvement by eliminating redundancy, reducing cycle times and increasing efficiency. If, for example, a marketing department and sales department enter customer account information on separate computer systems, streamlining the process will prevent duplication of efforts and free up resources. This poses opportunities for process automation and a reduction of labor costs, which can positively affect a company’s bottom line. 4. Bridge. the Generation. Gap: = A synergistic environment helps bridge the gaps among multiple generations, such as millennials, Generation X and baby boomers. Without it, each group might adapt, communicate and work in different ways. This could negatively affect a company’s productivity and the way it functions as a whole. For example, according to a study published by Ernst & Young, 78 percent of respondents perceive millennials as the most technically capable, but only 45 percent of respondents agree that the same generation works well in teams. A synergistic approach would pair the group with another generation that has strong team skills and poor technical skills, and facilitate team-building exercises and social media activities to encourage members to learn from each other.ANS2) STEPS INVOLVED IN EVALUATION: - STEP: CLARIEY.WHAT.IS..TQ..BE.EVALUATER. To develop an evaluability assessment with clearly-defined goals), populations, strategies, activities, outputs, and outcomes. Step 1 addresses whether an evaluation should be carvied out given available information and current context. Begin with a clear description of what is to be evaluated (e.g. program, policy, or health communication initiative) so that it can be shared. Consider developing a logic model that includes goals, activities, outputs, and outcome objectives. 2 ENGAGE STAKEHOLDERS To build support for the evaluation by engaging stakeholders This step involves identifying key stakeholders, understanding their interests and expectations, and engaging them in a review of objectives to develop evaluation questions. Consider making a list of organizations and/or people with an interest in the evaluation. Define stakeholder information needs and intended use of the evaluation. To assess available resources for evaluation and whether the program is ready to be evaluated. Evaluation can be time-consuming and expensive. Do an honest assessment of resources to avoid constraintslater. Resources include funds, time, in-kind support, approval processes (¢.g., ethics) and timeline for implementation and completion. When assessing evaluability consider whether: there is clarity on the program to be evaluated and why you are doing an evaluations the evaluation will be usefule leadership buy-in is high and will shape programse adequate resources are availablee timing is rights First, use this information to make a decision about whether conducting the evaluation is feasible and necessary. Then, use the information to further define your evaluation. STEP.4:. DETERMINE YQUB. EVALUATION QUESTIONS To help identify and determine questions to meet your evaluation goals. Involve as many stakeholders as possible to ensure all needs are met. Consider: logic model contents, stage of development (¢.g., planning, implementation, or completion stage), evaluations already completed, decisions needed, stakeholder interests, and resources. Consider type of evaluation needed. Formative evaluation is typically used in development and planning of a strategy. Process evaluation addresses the extent to which an intervention is implemented as planned and reaching intended populations. Outcome evaluation measures a program's success in meeting its goals and objectives. STEP..2:. RETERMINE. APPROPRIATE METHOPRS OF MEASUREMENT ANP. PROCEDURES To identify the most feasible and credible methods to use and how data will be collected. Consider: purpose, evaluation questions, feasibility of data access, realiability of data, who will use data,stakeholder expectations, and what is already being captured. Develop a data collection plan that includes: what to measure (indicators), when to collect data (before/after/both), how to collect data (qualitative/quantitative/both) and from whom to collect data (specific sub-groups/representative sample of population of interest). Think about the ethical issues involved in data collection (e.g. anonymity of data, confidentiality, and informed consent) and take appropriate steps. STE PEVELOP EVALUATION. PLAN. To identify specific evaluation activities, tasks, roles, resource allocations, and deadlines. Evaluation plans detail how programs, policies, or health communication initiatives will be monitored and evaluated, and how results will be used, providing transparency to stakeholders and funders. A data collection matrix can be part of your evaluation plan. A matrix generally includes information gathered from previous steps: evaluation questions and link to logic model (if applicable), indicators, methods, data sources, timelines, roles and responsibilities, and how data will be analyzed (optional). In Step 9 you will develop your dissemination plan, which can be added to the evaluation plan once completed. STE COLLECT DATA To collect credible evidence to answer each evaluation question - results and recommendations depend upon data quality. Develop data collection tools (survey, interview guide, etc.) and procedures and train data collectors. Consider whether incentives areappropriate and brainstorm ways to enhance response rates. To ensure validity, pilot test tools and procedures and closely monitor data gathered. If issues arise, modify tools and procedures and document changes. Computerize data collection to facilitate analysis if appropriate. To enter data, check quality and consistency of data entry and analyze data to identify your evaluation results. Implement strategies to review data quality during and after data collection. During data collection, look closely at the first wave of responses and number of ‘no response’ or refusals, and keep data collectors and the evaluation lead connected. After data collection, enter data and double check quality and consistency of entry, sort to find missing, high or low values (quantitative), and check content by reviewing transcripts entered (qualitative). Organize data in a format that can be summarized and interpreted. Analyze by conducting statistical analysis of quantitative data; identify themes in qualitative data. This is a technical step - enlist expert support when possible. This sets the stage for interpretation. INTERPRET ANI ISEMINATE RESULTS To interpret and share your evaluation findings, engaging stakeholders so that they can help identify recommendations. Anchor the interpretation to the original evaluation questions. Create a list of recommended actions that address your outcomes, and use this information to create the materials to communicate your findings.Presentation of findings can take many forms such as a written report, slide show presentation, and/or as a short informational video. Visual aids can be powerful methods for communicating evaluation results. Make results available to various stakeholders and audiences. Tailor what is disseminated to their specific interest in the evaluation and how they plan to use the results. STEP..4.2:. APPLY. EVALUATION. EINPINGS To use your evaluation results. Review recommendations with stakeholders to identify actionable outcomes and discuss what has been learned from conducting the evaluation and next steps to incorporate results. Prioritize actions and develop an action plan as a group. Consider evaluating your evaluation (meta-evaluation). You may ask stakeholders to reflect on the process and/or the outcomes, to improve the process moving forward. ANS3) TYPES OF CONTROL TECHNIQUES IN MANAGEMENT Management theorists and experts have devised several techniques over the years. They often divide these techniques into two categories: traditional and modern. Traditional types of techniques generally focus on non-scientific methods. On the other hand, modern techniques find their sources in scientific methods which can be more accurate. + Budgetary Control+ Standard Costing + Financial Ratio Analysis + Internal Audit + Break-Even Analysis + Statistical Control 1. Budgetary Control Budgeting simply means showcasing plans and expected results using numerical information. As a corollary to this, budgetary control means controlling regular operations of an organization for executing budgets. A budget basically helps in understanding and expressing expected results of projects and tasks in numerical form. For example, the amounts of sales, production output, machine hours, ete. can be seen in budgets. 2. Standard. Costing Standard costing is similar to budgeting in the way that it relies on numerical Figures. The difference between the two, however, is that standard costing relies on standard and regular/recurring costs. Under this technique, managers record their costs and expenses for every activity and compare them with standard costs. This controlling technique basically helps in realizing which activity is profitable and which one is not.3. Financial Ratio Analysis Every business organization has to depict its financial performances using reports like balance sheets and profit & loss statements. Financial ratio analysis basically cormpares these financial reports to show the financial performance of a business in numerical terms. Comparative studies of financial statements showcase standards like changes in assets, liabilities, capital, profits, etc. Financial ratio analysis also helps in understanding the liquidity and solvency status of a business. 4. Internal Audit Another popular traditional type of control technique is internal auditing. This process requires internal auditors to appraise themselves of the operations of an organization. Generally, the scope of an internal audit is narrow and it relates to financial and accounting activities. In modern times, however, managers use it to regulate several other tasks. For example, it can also cover policies, procedures, methods, and management of an organization. Results of such audits can, consequently, help managers take corrective action for controlling.S. Break-Even. Analysis Break-even analysis shows the point at which a business neither earns profits nor incurs losses. This can be in the form of sale output, production volume, the price of products, etc. Managers often use break-even analysis to determine the minimum level of results they must achieve for an activity. Any number that goes below the break-even point triggers corrective measures for control. 6. Statistical Control The use of statistical tools is a great way to understand an organization's tasks effectively and efficiently. They help in showing averages, percentages, and ratios using comprehensible graphs and charts. Managers often use pie charts and graphs to depict their sales, production, profits, productivity, etc. Such tools have always been popular traditional control techniques. ANS3) Strategy implementation is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is also defined as the manner in which an organization should develop, utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to competitive advantage and a better performance. Organizationalstructure allocates special value developing tasks and roles to the employees and states how these tasks and roles can be correlated so as maximize efficiency, quality, and customer satisfaction-the pillars of competitive advantage. But, organizational structure is not sufficient in itself to motivate the employees. An organizational control system is also required. This control system equips managers with motivational incentives for employees as well as feedback on employees and organizational performance. Organizational culture refers to the specialized collection of values, attitudes, norms and beliefs shared by organizational members and groups. Following.are. the. main, steps. in.inaplementing.a strategy: * Developing an organization having potential of carrying out strategy successfully. © Disbursement of abundant resources to strategy -essential activities. © Creating strategy -encouraging policies. Employing best policies and programs for constant improvement. « Linking reward structure to accomplishment of results. « Making use of strategic leadership. Excellently formulated strategies will fail if they ave not properly implemented. Also, it is essential to note that strategyimplementation is not possible unless there is stability between strategy and each organizational dimension such as organizational structure, reward structure, resource-allocation process, etc. Strategy implementation poses a threat to many managers and employees in an organization. New power relationships are predicted and achieved. New groups (formal as well as informal) are formed whose values, attitudes, beliefs and concerns may not be known. With the change in power and status roles, the managers and employees may employ confrontation behaviour.