Online Class (Google Meet): Prepared by Dr. K.Prabakar DATE: 03.09.

2020 C

Class: II MBA A, B & C (2019 Only)

SUBJECT: STRATEGIC MANAGEMENT
SUBJECT CODE: 19MSP22 – SESSION - 1 1
STRATEGIC MANAGEMENT

It provides overall direction by developing plans and policies designed to

achieve objectives and then allocating resources to implement the plans.
Ultimately, strategic management is for organisations to gain a competitive
edge over their competitors
Levels of Strategy
 What is strategy?
• Strategy is a tactical course of action which is designed to achieve long term
objectives. It is an art and science of planning and marshalling resources for
their most efficient and effective use in a changing environment.

• Strategy of a business enterprise consists of what management decides about

the future direction and scope of the business. It entails managerial choice
among alternative action programmes, competitive moves and different
business approaches to achieve enterprise objectives.

• Strategy once formulated has long term implications. It is framed by top

management in an organization. In short, it may be called as the ‘game plan of
management’.
 Benefits of Strategic Management

• Today’s enterprises need strategic management to reap the benefits of business

opportunities, overcome the threats and stay ahead in the race.
• The benefits of strategic management is to exploit and create new and
different opportunities for tomorrow; while long-term planning, in contrast,
tries to optimize for tomorrow the trends of today.

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 Subject Video Link

 https://youtu.be/RkzODAQgrGc

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testmoz.com/7641942

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