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Proper Mgt

 Strategic Mgt Essay

MB0052- Strategic Administration & Organization Policy

Assignment Set-I

What is meant simply by strategy? Distinguish between objectives? Answer: Technique is the way an organization systematically achieves future objectives. An enterprise cannot improvement for a long-term without a reliable strategy. Approach is a common path set intended for the company and its various parts to accomplish a desired placement in the future. A meticulous preparing process ends in strategy. This can be a comprehension with the goals which has logical detail by detail process. That defines the overall mission and vision of your organization. It is important to consider that the decisions taken by a business are likely to affect the employees, customers and competitors. Strategy courses the organization to obtain a long term target. The strategy is advantageous to the organization through its settings of resources within a tough environment. It assists to meet the needs of marketplace and shareholders. Strategy is a plan that is aimed to give a competitive benefits to the corporation over rivals through differentiation. Creating a strategy begins with extensive exploration and analysis. It is the process through which older management focuses on top priority problems tackled by company to achieve success in a long-term. It is the design of decisions in an organization that sets its goals and plans to attain it. The organization plans the near future goals to contribute in particular to it is shareholders, buyers and to the society. Strategy is always bettering and is amendable. It is a plan of long term activities which can be aimed at the progress associated with an organization. It is just a set of directions to enhance the position of the business in the overall market. Business strategy may be the method by which a company achieves and maintains success. Difference between Goals and Objectives:

Goals| Objectives| 1 ) Are lengthy term| Are generally meant for short term

2 . Are basic intentions with broad outcome| Are precise statements with specific outcome| 3. May not be validated| Could be validated

4. Are intangible-can be qualitative as well as quantitative | Happen to be tangible-are usually quantitative and measurable| 5. Are abstract| Are tangible

Q2. Determine the term " Strategic Management”. What are the types of strategies? Answer: Strategic management is a systematic approach of analyzing, preparing and implementing the technique in an firm to ensure a continued achievement. Strategic supervision is a permanent procedure which helps the organization in attaining a long term goal and its total responsibility is situated with the general management crew. It targets building a firm base that will be therefore achieved the combined initiatives of each and every employee of the firm. Types of Strategies:

a. Business Level: The board of directors and chief executive officials are involved in growing strategies at corporate level. Corporate level strategies happen to be innovative, pervasive and cutting-edge in nature.

The several grand approaches in a corporate and business level happen to be:

* Stability and expansion technique

* Retrenchment

* Business restructuring

* Combination strategies-concept of synergy

a1. Stability Strategy: The basic approach of the stability strategy is to take care of the present position of the corporation. In successful stability strategy, the organization attempts to maintain consistency by centering on their present resources and rapidly grows a meaningful competitiveness together with the market requirements. Further classifications of stability are the following:

1 ) No transform strategy

2 . Pause/Proceed with caution strategy

three or more. Profit strategy

a2. Development Strategy: The organizations undertake expansion approach when it improves its amount of objectives higher than the past achievement level. Organizations select...

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