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Program- MBADS/
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PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 2
Subject code &
name- MB0052 – Strategic Management and Business Policy
Q1. Define the term
‘strategy’. Explain the concept of ‘strategic window’.
(Definition of
strategy, Explanation of the concept of strategic window) 3, 7
Answer:
Meaning of Strategy
The word ‘strategy’ comes from
Greek strategies, which refers to a military general and combines stratus
(the army) and ago (to lead). The concept and practice of strategy
and planning started in the military, and, over time, it entered business and
management. The key or common objective of both business strategy and military
strategy is the same, i.e., to secure competitive advantage over the rivals or
opponents. We will discuss the similarity between business and military
strategies in detail later.
Q2. The essence of
business continuity is that businesses need to be planned not only for today,
but also for tomorrow, that is, for the future. Write the meaning and
importance of business continuity planning. Explain any two strategies for
business continuity planning.
(Meaning of
business continuity planning, Importance of business continuity planning,
Explanation of any 2 business continuity planning strategies) 2, 3, 5
Answer:
Continuity Planning
Business continuity planning
means proactively working out a means or method of preventing or mitigating the
consequences of a disaster—natural or manmade (sabotage or terrorism) – and managing
it to limit to the level or degree that a business unit can afford.
Q3. Write a brief note on ‘Strategic Audit’.
(Meaning of
strategic audit, Explanation of strategic audit) 3, 7
Answer:
Strategic Audit
With increasing pressure on
boards from external stakeholders to be more active, many directors are seeking
more practical ways to conduct strategic overview of company management without
getting directly involved in it. Donaldson (1995) has suggested ‘strategic
audit’ as a new tool for systematic review of strategy by board members without
directly involving themselves with management of companies.
Explanation
Strategic audit is a formal
strategic-review process, which imposes its own discipline on both the board
and the management very much like the financial audit process8. But, it is
different from management audit, which is
Q4. Price or market
competitiveness of a product or business depends on its cost competitiveness.
Cost competitiveness implies two things: cost efficiency and cost
effectiveness. Explain the concept of cost efficiency of an organization.
Analyze the major factors of cost efficiency.
(Introduction of
cost efficiency, Explanation of four major factors of cost efficiency) 2, 8
Answer:
Cost
efficiency
cost efficiency may be defined as
the level of resources or cost required to produce a particular output or
create a given value. So, lesser the resources or cost, more efficient is the
value creation process. Effectiveness is more plan-output relationship—how much
of the plan has been fulfilled or realized given a resource level or cost.
Effectiveness, therefore, is the ability to contribute to the defined level of
objectives or goals or to produce results.
Q5. Write short
notes on the following:
(a) Divestment
strategy
(b) Liquidation
strategy
(Explanation of
Divestment strategy, Explanation of Liquidation strategy) 5, 5
Answer:
Divestment Strategy
Divestment is usually a part of
corporate restructuring or rehabilitation programmers as indicated above.
Divestment can be part of an overall downsizing or retrenchment strategy of an
organization to get rid of businesses which are unprofitable or which require
too much capital or which do not fit
well with the company’s other existing businesses or activities.
Q6. Describe the
different approaches to business ethics.
(List the four
different approaches to business ethics, Description of these four approaches
to business ethics) 2, 8
Answer:
Different Approaches to Business
Ethics
In practice, different companies
have different approaches to business ethics. It depends on their
prioritization of ethical practices in conducting business. Some companies
accord highest priority to the achievement of organizational objectives and
business targets; ethical practices may have to be compromised. Some companies
give almost equal priorities to both. Some companies give very high priorities
to ethics and values; management and strategic functions are governed or dictated
by this. According to Rossouw and Vuuren (2003), approaches adopted by various
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