STRATEGIC

DIFFERENTIATE MISSION AND OBJECTIVES OF AN

ORGANIZATION. HOW DO YOU FORMULATE THE
GOALS OF A MANUFACTURING ORGANIZATION?
• A mission statement is a short summary of an organization’s core purpose, focus,
and aims. This usually is comprised of a brief description of what the organization
does and its key objectives. It often takes shape as a declaration of what an
organization does every day, defining the day-to-day activities of work, and each
person who works for the organization contributes to that overall mission. 
• A vision statement is a short description of an organization’s aspirations and the
wider impact it aims to create. It acts as a guiding beacon to those within the
organization, as well as something that sets the ground for internal decision-
making and determines the intended direction of the organization. A vision
statement is meant to be a clear, definitive statement of what an organization
wants to accomplish, and what the world will look like once they have
accomplished that mission  
Vision
• Future based
• Answers the question ‘Where is the business going?’
• Focus on the long-run
• Is inspirational and should shape strategic decision making
Mission
• Based in the present
• A declaration of the core values of the company
• Answers the question ‘Why does the business exist?’
• Communicated to internal and external stakeholders

GOALS OF A MANUFACTURING ORGANIZATION

• Make the Goals Specific
• Track and Measure Your Progress
• Include Everyone
• Set Deadlines (and stick to them)
• Create a Goal-Oriented Culture
WHAT IS THE RATIONAL BEHIND
PERFORMING SWOT ANALYSIS
• standsforStrengths,Weaknesses,Opportunities,andThreats. It can be great way of summarizing various
industry forces and determining their implications For The business In Question.
• 1.Strengths:Thesearetheinternalattributesthatgiveanorganization
anadvantageoveritscompetitors.Strengthscanincludeastrongbrandreputation,talented
employees,uniqueproductsorservices,andaloyalcustomerbase.
• 2.Weaknesses:These aretheinternalattributesthatputanorganizationatadisadvantagecomparedtoits
competitors.Weaknessescanincludealackofresources,poormanagement,outdated
technology,orapoorlydefinedbusinessstrategy.
• 3.Opportunities:Theseareexternal
factorsthatcanpositivelyimpactanorganization'sgrowthorsuccess.Opportunitiescan
includemarkettrends,changesinregulations,newtechnology,oruntappedmarkets.
• 4. Threats:Theseareexternalfactorsthatcannegativelyimpactanorganization'sgrowthor
success.Threatscanincludenewcompetitors,economicdownturns,changesinconsumer
behavior,orshiftingindustrytrends.
WRITE A SHORT NOTE ON STRATEGIC
PLAN
DESCRIBE THE EXTERNAL
COMPONENTS OF BUSINESS
ENVIRONMENT
• political factors include changes in regulations resulting from who is currently holding government
positions. These impact how freely a business can operate within the economy. Some examples
include trade tariff policies and tax policies.
• Economic factors impact the performance of an organization within the marketplace and include
factors such as interest rates, employment rates, and disposable income.
• Sociocultural factors impact how a company will present itself and advertise its products to its
consumers. Since these factors include demographics and cultural trends, the company will
favorably position itself to attract its target audience based on these factors.
• Technological factors within the general environment can impact related businesses and their
ability to perform well. As some technology fades out due to other technological advances, it
drastically affects the company's ability to sell the obsolete technology.
• Environmental factors impact business operations along the supply chain. Changes in climate and
natural disasters and trends toward clean energy will impact the choices a business must make
about the way it operates.
• Legal factors include laws and regulations that impact how a business conducts itself.
DESCRIBE THE FACTORS AFFECTING
THE SELECTION OR CHOICE OF
STRATEGY
• Factors Affecting Strategic Choice 
• Environmental constraints
• Internal organizations and management power relationships
• Values and preferences
• Management`s attitude towards risk
• Impact of past strategy
• Time constraints- time pressure, frame horizon, the timing of the decision
• Information constraints
• Competitors reaction
WHAT IS THE ROLE OF LEADERSHIP IN
STRATEGIC MGMT?
• efficient leaders perform the common tasks in the strategy making and
executing process. They develop a strategic vision and mission, sets goals and
objectives, craft the strategies, execute it and then evaluate the performance.
• In strategic management leader perform the various roles. It introduces the
environment for change. Secondly it creates the leadership team by selecting
key players from the organization by breaking down the current hierarchy at
third stage it formulates the vision and strategy by the help of a visionary
process that clarify the strategy for understanding of whole organization.
Then leadership creates an evaluation system that evaluates the strategy at
every stage of the work within the organization. Finally, it helps to change the
culture which facilitates the strategic management
“RESOURCE ALLOCATION AS A VITAL
PART OF STRATEGY” WHY THIS IS
VITAL?
• Resource allocation is the process of strategically selecting and assigning
available resources to a task or project in support of business objectives.
resource allocation deals with the assignment of people and their skills to
projects, also known as engagements.
• Effective resource allocation should ensure work is divided evenly among all
resources to prevent staff burnout
• Effective resource allocation should empower teams by ensuring resources
have the skills, knowledge, and training necessary to complete allocated work
• Effective resource allocation should ensure engagement performance is
optimised by matching the right resources, to the right task, at the right time
DISCUSS THE MOST APPROPRIAT METHODOLOGY
FOR EVALUATION OF STRATEGY.
• SWOT Analysis
• Gap Analysis: A gap analysis is a method of assessing the
performance of a business unit to determine whether business
requirements or objectives are being met and, if not, what steps
should be taken to meet them. A gap analysis may also be referred to
as a needs analysis, needs assessment or need-gap analysis.
• Value Chain Analysis: Value chain analysis is a means of evaluating
each of the activities in a company's value chain to understand where
opportunities for improvement lie.
WHAT IS CORPORATE GOVERNANCE? INDICATE
HOW AND WHY COMPANIES ARE EMBRACING?
• Corporate governance is the structure of rules, practices, and processes used to direct and manage a company.
• A company's board of directors is the primary force influencing corporate governance.
• Bad corporate governance can cast doubt on a company's operations and its ultimate profitability.
• Corporate governance covers the areas of environmental awareness, ethical behavior, corporate strategy,
compensation, and risk management.
• The basic principles of corporate governance are accountability, transparency, fairness, responsibility, and risk
management.
BENEFITS
• It promotes long-term financial viability, opportunity, and returns.
• It can facilitate the raising of capital.
• Good corporate governance can translate to rising share prices.
• It can lessen the potential for financial loss, waste, risks, and corruption.
• It is a game plan for resilience and long-term success.
STRATEGIC MGMT PROCESS ND ITS
STEPS
• Strategic management process is a continuous culture of appraisal that a business
adopts to outdo the competitors.
STEPS
• Environmental Scanning- Environmental scanning refers to a process of collecting,
scrutinizing and providing information for strategic purposes.
• Strategy Formulation- Strategy formulation is the process of deciding best course of
action for accomplishing organizational objectives and hence achieving organizational
purpose.
• Strategy Implementation- Strategy implementation implies making the strategy work
as intended or putting the organization’s chosen strategy into action.
• Strategy Evaluation- Strategy evaluation is the final step of strategy management
process.
STRATEGIC DECISION MAKIING ND ITS
PROCESS
• Strategic decision-making refers to when a business bases its shorter-
term decisions on the longer-term vision for the direction of the
organisation.
PROCESS
MICHELE PORTERS FIVE FORCES OF
INDUSTRY
• Competition in the industry: The larger the number of competitors, along with the number
of equivalent products and services they offer, the lesser the power of a company. Suppliers
and buyers seek out a company's competition if they are able to offer a better deal or lower
prices.
• Potential of New Entrants into an Industry: A company's power is also affected by the force
of new entrants into its market. The less time and money it costs for a competitor to enter a
company's market and be an effective competitor, the more an established company's
position could be significantly weakened.
• Power of Suppliers: The next factor in the Porter model addresses how easily suppliers can
drive up the cost of inputs.
• Power of Customers: The ability that customers have to drive prices lower or their level of
power is one of the Five Forces.
• Threat of Substitutes: The last of the Five Forces focuses on substitutes. Substitute goods or
services that can be used in place of a company's products or services pose a threat.
APPLICATION OF TWOS
• Strengths-opportunities (SO): This TOWS strategy, also known as the maxi-maxi
strategy, is a business plan that pursues opportunities through the sheer force
of an organization’s strengths. It places less emphasis on a company's
weaknesses.
• Strengths-threats (ST): Also known as the maxi-mini strategy, the ST strategy
places a company’s strengths on the front lines of any organizational decisions.
• Weaknesses-opportunities (WO): After a company has identified its
weaknesses, it can use the WO strategy, also known as the mini-maxi strategy,
to establish initiatives or plans to minimize these target weaknesses.
• Weaknesses-threats (WT): The WT strategy, or mini-mini strategy, aims to
predict external threats before they appear and minimize any internal
weaknesses that might leave the company vulnerable.
STRATEGIC CHOICE PROCESS
• Focusing on strategic alternatives: This stage is concerned with narrowing down
the options of numerous alternatives available to most feasible strategies. GAP
analysis is used by managers for determining this manageable no. of feasible
strategies. 
• Analysing the strategic alternatives: Here the chosen alternatives are analysed
on the basis of certain factors termed as selection factors.
• Evaluation of strategic alternatives: Proper evaluation of each and every factor is
done for identifying its capability that support organization in attaining its targets.
• Making a strategic choice: Finally, the strategic choice is made after doing an
evaluation that gives a clear idea about which one is most appropriate under
existing conditions.
DISCUSS ANY 4 GROWTH STRATEGIES
OF AN ORG. TO INCREASE THEIR
PROFITS.
• Market Penetration: Market penetration refers to an expansion strategy that
looks to grow the distribution of existing products within existing markets.
• Product Development: A product development strategy involves developing
new and improved products for an existing customer base made up
of current customers and potential customers who already own or are in the
market for something similar.
• Market Development: While a product development strategy is based on
introducing new products to existing markets, a market development
strategy centers around introducing existing products to new markets.
• Diversification: A diversification strategy requires you to both develop a new
product and to enter a new market.