Vijayam Business School
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Strategic Management
UNIT-1
Strategic Management
1. What is meant by Strategic
Management? Explain Strategic
Management Process?
Introduction:
Strategic management is the continuous
planning, monitoring, analysis and assessment
of all that is necessary for an organization to
meet its goals and objectives.
Fast-paced innovation, emerging
technologies and customer expectations force
organizations to think and make decisions
strategically to remain successful.
The strategic management process helps
company leaders assess their company's
present situation, chalk out strategies, deploy
them and analyze the effectiveness of the
implemented strategies.
The strategic management process
involves analyzing cross-functional business
decisions prior to implementing them.
Strategic management typically involves:
 Analyzing internal and external
strengths and weaknesses.
 Formulating action plans.
 Executing action plans.
 Evaluating to what degree action plans
have been successful and making
changes when desired results are not
being produced.
Definition:
Strategic management is the process of
managing the pursuit of organizational
mission while managing the relationship of the
organization to its environment -James M.
Higgins
Strategic Management Process:
Dr. K .JAYANTH
Defining the levels of strategic intent of the
business:
o Establishing vision
o Designing mission
o Setting objectives
2. Formulation of strategy
o Performing environmental and
organizational appraisal
o Considering strategies
o Carrying out strategic analysis
o Making strategies
o Preparing strategic plan
3. Implementation of strategy
o Putting strategies into practice
o Developing structures and
systems
o Managing behavioural and
functional implementation
4. Strategic Evaluation and Control
o Performing evaluation
o Exercising control
o Recreating strategies
Strategic Management is all about specifying
organization’s vision, mission and objectives,
environment scanning, crafting strategies,
evaluation and control.
2. Explain the components of Strategic
Management Model?
Strategic Management is perhaps most
crucial to organizational planning and
direction. It gives long-term focus to the
organization and ensures the achievement of
goals within the stipulated time period.
The onus of strategic management
usually lies with the top bosses in the
organization. They may delegate certain tasks
of strategic management, but the core planning
and monitoring remain in their purview.
Usually, they prefer to delegate to experienced
employees only or novices who at least hold
strategic management certificate.
Strategic management comprises the
following components:
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Goal Setting
The American entrepreneur and life
coach Tony Robbins says, “Setting goals is the
first step in turning invisible to visible.” How
well-said! Unless the organization knows what
it wants to achieve, there is no point in
planning ahead. This component is all about
setting short-term as well as long-term goals.
These goals should be SMART – Specific,
Measurable, Attainable, Relevant and Timely.
Gathering Information
The next component of strategic
management pertains to collecting information
about all those internal and external factors
that could influence the implementation and
hence, the achievement of goals. For example,
 Are there enough resources in terms of
finances and manpower to execute a
process?
 Are there any laws or regulations to be
taken care?
 What are competitors doing in the
same space?
 What are the problems and
opportunities that may arise in the
future?
Strategy Formulation
Strategy formulation refers to the
process of choosing the most appropriate
course of action for the realization of
organizational goals and objectives and
thereby achieving the organizational vision.
Dr. K .JAYANTH
For choosing most appropriate course
of action, appraisal of organization and
environmental is done with the help of SWOT
analysis.
Environmental Appraisal
The environment of any organization is
"the aggregate of all conditions, events and
influences that surround and affect it". It is
dynamic and consists of External & Internal
Environment .
Organizational Appraisal
It is the process of observing an
organizational internal environment to identify
the strengths and weaknesses that may
influence the organization's ability to achieve
goals.
Strategy Implementation
Strategy implementation is the action
stage of strategic management. It refers to
decisions that are made to install new strategy
or reinforce existing strategy.
Designing structure, process & system
Strategy implementation includes the
making of decisions with regard to
organizational structure, developing budgets,
programs and procedures in order to
accomplish certain activities.
Functional Implementation
Functional implementation is carried
out through functional plan and policies in five
different areas- marketing, finance, operation,
personnel and Information management.
Behavioral Implementation
It denotes mobilizing employees and
managers to put and formulate strategies into
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action and require that they know the company’s objectives,

personal discipline, commitment and sacrifice.
It depends upon manager’s ability to motivate
employees.
Operationalizing strategy
mission and vision. It provides direction and
focus to the employees.
Steps of Strategy Formulation
The steps of strategy formulation include the
following:

It includes establishing annual

objectives, devising policies, and allocating
resources.

Strategy Evaluation & Control

Strategy evaluation

Thus strategic evaluation activities

include reviewing external and internal
factors that are the basis for current strategies.

Strategic control

In this step, organizations Determine

what to control i.e., which objectives the
organization hopes to accomplish, set control
standards, measure performance, Compare the
actual with the standard, determine the
reasons for the deviations and finally taking
corrective actions and review the policies and
activities if needed.
UNIT-2
Q1.What is meant by Strategic
Formulation? Explain the external
environment, remote and industry
environment?
Strategy Formulation is an analytical
process of selection of the best suitable course
of action to meet the organizational objectives
and vision. It is one of the steps of the
strategic management process. The strategic
plan allows an organization to examine its
resources, provides a financial plan and
establishes the most appropriate action plan
for increasing profits.
It is examined through SWOT analysis.
SWOT is an acronym for strength, weakness,
opportunity and threat. The strategic plan
should be informed to all the employees so
1. Establishing Organizational Objectives:
This involves establishing long-term
goals of an organization. Strategic decisions
can be taken once the organizational
objectives are determined.
2. Analysis of Organizational Environment:
This involves SWOT analysis,
meaning identifying the company’s strengths
and weaknesses and keeping vigilance over
competitors’ actions to understand
opportunities and threats.
Strengths and weaknesses are internal
factors which the company has control over.
Opportunities and threats, on the other hand,
are external factors over which the company
has no control.
A successful organization builds on its
strengths, overcomes its weakness, identifies
new opportunities and protects against
external threats.
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NOTE: This diagram is useful for

3. Forming quantitative goals: INDUSTRY ANALYSIS also.
Remote Environment And Industry
Defining targets so as to meet the Environment:
company’s short-term and long-term
objectives. Example, 30% increase in revenue
this year of a company.
4. Objectives in context with divisional
plans:
This involves setting up targets for
every department so that they work in
coherence with the organization as a whole.
5. Performance Analysis:
This is done to estimate the degree of
variation between the actual and the standard
performance of an organization.
6. Selection of Strategy:
This is the final step of strategy
formulation. It involves evaluation of the
alternatives and selection of the best strategy
amongst them to be the strategy of the
organization.
Strategy formulation process is an
integral part of strategic management, as it
helps in framing effective strategies for the
organization, to survive and grow in the
dynamic business environment. Q2. What is meant by Company Profile?
External Environment: Explain the Internal Analysis of the firm?
A company profile is part of a company's
business plan that provides an overview of the
company to potential customers and investors.
It generally includes the following data:
 the name of the founder(s) and the
names and titles of the key members of
the company
 the official name of the company, its
address, its telephone number, and its e-
mail address
 the overall business activities of the
company
 the company's overall strategy,
including its purpose and mission
statement
 the structure of the company: whether
it's public, private, or a partnership
 who serves on the board of directors, if
there is a board
 the numbers and types of employees or

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independentcontractors in the
company

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 the basic
financial data related to the company,
including its yearly revenue, profits, and
major assets
 places where the company does
business
 the operations and mission of the
company, including what sets it apart
from other companies
 the way in which the company informs
shareholders about its financial picture
 the achievements that the company has
made recently
 the short- and longer-term goals of the
company
Internal Analysis of the firm:
Internal analysis is the methodical
evaluation of the key internal features of an
organization.
Internal Analysis recognises and
assesses resources, capabilities, and core
competencies.
Internal analysis has four elements
such as the organization's Current vision,
Mission, Strategic objectives and Strategies.
A system and methodical analysis of
the strength and weakness of firm’s internal
resources and capabilities and also its function
areas are called internal analysis.
Internal analysis is also referred to as “
internal appraisal or organizational audit”.
Managers perform internal analysis to
identify strength and weakness or a firm’s
resources and capabilities.
An internal analysis is the thorough
examination of a company's internal
components, both tangible and intangible,
such as resources, assets and processes. An
internal analysis helps the company decision-
makers accurately identify areas for growth or
revision to form a practical business strategy
or business plan.
Dr. K .JAYANTH
Internal Analysis in Strategic Management!
Learn about:-
 Introduction to Internal Analysis
 Functional Analysis
 SWOT Analysis
 Gap Analysis
 Porter’s Value Chain Analysis
 Product Life Cycle Analysis
 Environmental Analysis
 Competitive Position Analysis
 Competitor Analysis
 Strategic Group Analysis
 Fundamental Analysis.
Importance of Internal Analysis of the firm
 To assess capability gaps and steps to
enhance it.
 To define against threats.
 Organizational resources and
capabilities become a lynchpin over
which hinges the success and survival.
 To find where it stands in terms of its
strength and weakness.
Strength rely on three basic
perspectives to evaluate how their firms stock
up on internal capabilities.
Comparison with past performance
Strategists use the firm’s historical
experience as basis managers are most familiar
with internal capabilities and problems of their
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firms because they applicable at corporate level and then

have been immersed in the financial,
marketing, production and R & D activities.
Benchmarking comparison with
competitors
The benchmarking means evaluating
the sustainability of advantages against key
competitors. A major focus in determining a
firms resources and competencies is
comparison with existing competitors.
Comparison with success factors in the
industry.
The key determinants of success in an
industry may be used to identify a firms
internal strength and weakness.
techniques used for business-level strategies.
The techniques that have been
discussed for the corporate level include BCG
matrix, GE nine-cell planning grid, Hofer’s
matrix and Shell Directional Policy Matrix and
the techniques for business- level include
SWOT analysis, experience curve analysis,
grand strategy selection matrix, grand strategy
clusters.
BCG MATRIX:
The BCG Matrix (Growth-Share
Matrix) was created in the late 1960s by the
founder of the Boston Consulting Group,
Bruce Henderson, as a tool to help his clients
with efficient allocation of resources among
different business units.
It has since been used as a portfolio
planning and analysis tool for marketing,

UNIT-3
Q1. What is meant by strategic analysis and
choice? Explain BCG, GE, SWOT analysis?

Strategy analysis and choice focuses

on generating and evaluating alternative
strategies, as well as on selecting strategies to
pursue. Strategy analysis and choice seeks to
determine alternative courses of action that
could best enable the firm to achieve its
mission and objectives.

The firm’s present strategies,

objectives, and mission together with the
external and internal audit information,
provide a basis for generating and evaluating
feasible alternative strategies. The alternative
strategies represent incremental steps that
move the firm from its current position to a
desired future state.
Alternative strategies are derived from brand management
the firm’s vision, mission, objectives, external and strategy development.
audit, and internal audit and are consistent
with past strategies that have worked well. The
strategic analysis discusses the analytical
techniques in two stages i.e. techniques

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1. Stars –
BUs/products characterized by high-
growth and high- market share. They often
require heavy external investment to
sustain
their rapid growth as they may not
be
producing any positive cash flow. Eventually,
their growth will slow, and they will turn into
cash cows.
2.Cash Cows –
BUs/products characterized by low-
growth, high-market share. These are well
established and successful BUs that do not
require substantial investment to keep their
market share. They produce a lot of cash to be
used for other business units (Stars and
Industry Attractiveness:
Factors you could choose to base this on
Question Marks) of the compan . y include:
3. Question Marks -  Market size
BUs/products characterized by low-  Market growth
market share in high-growth markets. They  PESTEL factors
require a lot of financial resources to increase o Political
their share since they cannot generate enough o Economical
cash themselves. The crucial decision is to o Social
decide which Question Marks to phase out and o Technological
which ones to grow into Stars. o Environmental
4. Dogs - o Legal
BUs/products with low-growth, low-  Porters five forces
market share. In addition, they often have poor o Competitive ri valry
profitability. The business strategy for a Dog o Buyer power
is most often to divest. However, occasionally o Supplier power
management might make a decision to hold a o Threat of new entrants
Dog for possible strategic repositioning as a o Threat of substitution
Question Mark or Cash Cow. Business Unit Strength:
Factors to determine how strong a unit is
GE GRID: compared to others in its industry include:
The GE matrix was developed by  Market share
Mckinsey and Company consultancy group in  Growth in market share
the 1970s. The nine cell grid measures  Brand equity
business unit strength against industry  Profit margins compared to
attractiveness and this is the key difference. competition
Whereas BCG is limited to products,  Distribution channel process – the
business units can be products, whole product strength of
lines, a service or even a brand. You can plot  Grow/Invest:
these chosen units on the grid and this will Units that land in this section of the
help you to determine which strategy to apply. grid generally have high market share
and promise high returns in the future
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so should be
invested in.

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Units that land in

this section of the grid can be
ambiguous and should only be invested
in if there is money left over after
investing in the profitable units.
 Harvest/Divest:
Poor performing units in an
unattractive industry end up in this
section of the grid. This should only be
invested in if they can make more
money than is put into them. Otherwise
they should be liquidated.
SWOT Analysis:
SWOT Analysis is an acronym for
Strengths, Weaknesses, Opportunities and
Threats. This is a powerful strategic
management and planning tool.
It is a superb masterpiece which every
organization needs to get through to greater
heights of success.
The Strengths (S) and Weaknesses (W) are
normally considered as internal factors of the
organization that you can control while
Opportunities (O) and Threats (T) are external
factors over which you have absolutely no
influence or control.

Q2. Discribe Mc Kinsey’s 7s Frame work?

While some models of organizational
effectiveness go in and out of fashion, one that
has persisted is the McKinsey 7-S framework.
Developed in the early 1980s by Tom Peters
and Robert Waterman, two consultants
working at the McKinsey & Company
consulting firm, the basic premise of the
model is that there are seven internal aspects
of an organization that need to be aligned if it
is to be successful.

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Let's look at each of the elements specifically:

 Strategy: the plan devised to maintain
and build competitive advantage over
the competition.

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 Structure: the
way the organization is structured and
who reports to whom.
 Systems: the daily activities and
procedures that staff members engage
in to get the job done.
 Shared Values: called "superordinate
goals" when the model was first
developed, these are the core values of
the company that are evidenced in the
corporate culture and the general work
ethic.
 Style: the style of leadership adopted.
 Staff: the employees and their general
capabilities.
 Skills: the actual skills and
competencies of the employees
working for the company.
UNIT-4
Q1.What is meant by Strategic
Implementation? Explain the Functional
Tactics?
Strategy Implementation refers to the
execution of the plans and strategies, so as to
accomplish the long-term goals of the
organization. It converts the opted strategy
into the moves and actions of the organisation
to achieve the objectives.
Simply put, strategy implementation is
the technique through which the firm
develops, utilises and integrates its structure,
culture, resources, people and control system
to follow the strategies to have the edge over
other competitors in the market.
Dr. K .JAYANTH
Strategy Implementation is the fourth stage of
the Strategic Management process, the other
three being a determination of strategic
mission, vision and objectives, environmental
and organisational analysis, and formulating the
strategy. It is followed by Strategic Evaluation
and Control.
Process of Strategy Implementation
1. Building an organization, that possess
the capability to put the strategies into
action successfully.
2. Supplying resources, in sufficient
quantity, to strategy-essential
activities.
3. Developing policies which encourage
strategy.
4. Such policies and programs are
employed which helps in continuous
improvement.
5. Combining the reward structure, for
achieving the results.
6. Using strategic leadership.
The process of strategy implementation
has an important role to play in the company’s
success. The process takes places after
environmental scanning, SWOT analyses and
ascertaining the strategic issues.
Functional Tactics:
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(Approved by AICTE, New Delhi. & Affiliated to Sri Venkateswara University, Tirupati.)

Policy refers to specific guidelines,

methods, procedures, rules, forms, and
administrative practices established to support
and encourage work towards stated goals.
These issues are central strategy-
implementation activities common to all
organizations.
Strategy Implementation: Operationalizing
The Strategy
o Annual Objectives
o Developing Functional
Strategies
o Marketing Strategies
o Production / Operations
Strategies
o Human Resource / Personnel
Strategies
o Functional Strategies In
Finance / Accounting
o Research And Development
Strategies
o Cross-functional Implications
Of Strategy Implementation
o Policies
o Resource Allocation
o Tools For Allocating Resources
Q2What is meant by Operationalsing the
o Plans And Implementation
strategy through short term objectives?
o Characteristics Of
The tasks of operationalzing the
strategy include establishing objectives, Implementable Strategic Plans
allocating resources, developing functional UNIT-5
strategies and devising policies. Q1. What is meant by corporate
Annual objectives serve as guidelines governance?
for action, directing and channelling efforts Corporate Governance refers to the
and activities of organization members. way a corporation is governed. It is the
Annual objectives are derived from long-term technique by which companies are directed
objectives. They must be consistent, and managed.
measurable, and prioritized. It means carrying the business as per
Resource allocation is a central the stakeholders’ desires. It is actually
management activity that allows for strategy conducted by the board of Directors and the
execution. Strategists have the power to decide concerned committees for the company’s
which divisions, departments, or SBUs are to stakeholder’s benefit. It is all about balancing
receive how much money, which facilities, individual and societal goals, as well as,
and which executives. The primary tool for economic and social goals.
making resource allocations is the budget Corporate Governance is the
process. interaction between various participants
Functional strategies are derived from (shareholders, board of directors, and
business strategy and provide directions to key company’s management) in shaping
functional areas within the business in terms
of what must be done to implement strategy.
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corporation’s performance and the way it is
proceeding towards.
The relationship between the owners
and the managers in an organization must be
healthy and there should be no conflict
between the two.
The owners must see that individual’s
actual performance is according to the
standard performance. These dimensions of
corporate governance should not
overlooked.
Benefits of Corporate Governance
1. Good corporate governance ensures
corporate success and economic
growth.
2. Strong corporate governance maintains
investors’ confidence, as a result of
which, company can raise capital
efficiently and effectively.
3. It lowers the capital cost.
4. There is a positive impact on the share
price.
5. It provides proper inducement to the
owners as well as managers to achieve
objectives that are in interests of the
shareholders and the organization.
6. Good corporate governance also
minimizes wastages, corruption, risks
and mismanagement.
7. It helps in brand formation and
development.
8. It ensures organization in managed in a
manner that fits the best interests of all.
Corporate Governance Principles
Corporate governance is carried out in
accordance with the Company’s Corporate
Governance Code and is based on the
following principles:
 Accountability. The Code provides for
accountability of the Company's Board
of Directors to all shareholders in
accordance with applicable law and
provides guidance to the Board of
Directors in making decisions and
monitoring the activities of the
executive bodies.
Prepared by: Dr K. JAYANTH .,
 Fairness. The Company undertakes to
protect shareholders' rights and ensure
equal treatment of shareholders. The
Board of Directors shall give all
shareholders the opportunity to obtain
effective redress for violations of their
rights.
 Transparency. The Company shall
provide timely, accurate disclosure of
be
information about all material facts
relating to its activities, including its
financial situation, social and
environmental indicators, performance,
ownership structure and governance of
the Company, as well as free access to
such information for all stakeholders.
 Responsibility. The Company
recognizes the rights of all interested
parties permitted by applicable law,
and seeks to cooperate with such
persons or companies for their own
development and financial stability.
Q2. What is meant by Corporate Social
Responsibility?
Corporate Social Responsibility (also
known as CSR, corporate conscience, and
corporate citizenship) is the integration of
socially beneficial programs and practices into
a corporation's business model and culture.
CSR aims to increase long-term profits for
online and offline businesses by enabling them
to become more efficient and attract positive
attention for their efforts.
Benefits of corporate social responsibility:
Some activities that fall under the umbrella
of CSR, with their corresponding benefits,
include:
 Prevent financial ramifications:
Compliance with the spirit and letter of
the law — both nationally and
internationally — through self-
regulatory processes will prevent fines,
put your business "low on regulators'
radar screens," and lower legal
expenses.
 Increase employee loyalty: Treating
your employees fairly and generously
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is a part of corporate social
responsibility. By providing good jobs
and encouraging high professional and
moral standards, you increase
employee loyalty, and by procuring
only those overseas products produced
at factories where workers were treated
ethically, you gain support among
"Fair Trade" advocates.
 Maintain a positive reputation:
Demonstrated consciousness in a
variety of areas can garner publicity
and give a business tangible proof of
their conduct, which can be proudly
displayed on a company website.
These include:
o Environmental
consciousness: Reducing
waste, recycling, minimizing
carbon footprint, and other best
practices can . Using or
producing only sustainable
products, lowering energy
usage, and supporting
environmental causes will
boost a business's "green
reputation" among
environmentally concerned
clients.
o Social Concern: Donating to
humanitarian causes that fight
persistent poverty, help the
victims of epidemics like AIDS
or Ebola, or assist those
displaced by hurricanes or
earthquakes shows concern for
issues that consumers are more
and more aware of in our
modern, interconnected world.
o Local Community:
Involvement in local
community projects, either
through financial donations,
employee participation,
connecting your customers with
project leaders, or promotion of
the project through advertising
Prepared by: Dr K. JAYANTH .,
and fundraising enhances your
CSR credentials with clients in
the given location.
Q3. What is meant by Management of
Change?
Introduction
Philosophically thinking, change is the
only constant in the world. Same as for
anything else, this is true for business
organizations as well.
Every now and then, business
organizations change the way they operate and
the services/products they offer. There are new
initiatives in organizations and the old
ineffective practices are forced to leave.
In addition to that, technology is
constantly changing and the business
organizations need to par with that as well.
There are many approaches about how
to change. Of course, we may all agree that the
change is required for an organization, but can
we all be in agreement of how the change
should take place? Usually not! Therefore,
deriving a change management process should
be a collective effort and should result from
intensive brainstorming and refining of the
ideas.
In this tutorial, we will have a look at
the change management process suggested by
John Kotter. Since this process has shown
results for many Fortune 500 companies,
Kotter's approach should be considered with
respect.
Eight-Step Change Management Process
Let's go through the steps of Kotter's change
management approach.
Step 1: Urgency Creation
A change is only successful if the
whole company really wants it. If you are
planning to make a change, then you need to
make others want it. You can create urgency
around what you want to change and create
hype.
This will make your idea well received
when you start your initiative. Use statistics
and visual presentations to convey why the
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change should take place and how the
company and employees can be at advantage.
Step 2: Build a Team
If your convincing is strong, you will
win a lot of people in favour of change. You
can now build a team to carry out the change
from the people, who support you. Since
changing is your idea, make sure you lead the
team.
Organize your team structure and
assign responsibilities to the team members.
Make them feel that they are important within
the team.
Step 3: Create a Vision
When a change takes place, having a
vision is a must. The vision makes everything
clear to everyone. When you have a clear
vision, your team members know why they are
working on the change initiative and rest of
the staff know why your team is doing the
change.
If you are facing difficulties coming up
with a vision, read chapter one (Mission and
Values) of WINNING, by Jack Welch.
Step 4: Communication of Vision
Deriving the vision is not just enough
for you to implement the change. You need to
communicate your vision across the company.
This communication should take place
frequently and at important forums. Get the
influential people in the company to endorse
your effort. Use every chance to communicate
your vision; this could be a board meeting or
just talking over the lunch.
Step 5: Removing Obstacles
No change takes place without
obstacles. Once you communicate your vision,
you will only be able to get the support of a
fraction of the staff. Always, there are people,
who resist the change.
Sometimes, there are processes and
procedures that resist the change too! Always
Prepared by: Dr K. JAYANTH .,
watch out for obstacles and remove them as
soon as they appear. This will increase the
morale of your team as well the rest of the
staff.
Step 6: Go for Quick Wins
Quick wins are the best way to keep
the momentum going. By quick wins, your
team will have a great satisfaction and the
company will immediately see the advantages
of your change initiative.
Every now and then, produce a quick
win for different stakeholders, who get
affected by the change process. But always
remember to keep the eye on the long-term
goals as well.
Step 7: Let the Change Mature
Many change initiatives fail due to
early declaration of victory. If you haven't
implemented the change 100% by the time
you declare the victory, people will be
dissatisfied when they see the gaps.
Therefore, complete the change
process 100% and let it be there for sometime.
Let it have its own time to get integrated to the
people's lives and organizational processes
before you say it 'over.'
Step 8: Integrate the Change
Use mechanisms to integrate the
change into people's daily life and corporate
culture. Have a continuous monitoring
mechanism in place in order to monitor
whether every aspect of the change taking
place in the organization. When you see
noncompliance, act immediately.
Conclusion
In the constantly changing corporate
world, the one who welcomes the changes
stays ahead of the competition.
| I – CET CODE: VJAM 13