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DRIVE-
FALL 2014
PROGRAM-
Bachelor of Business Administration- BBA
SEMESTER-
2
SUBJECT
CODE & NAME- BBA202: BUSINESS STRATEGY
Q1.
Give the meaning of the following:
(a)
Business strategy
(b)
Business Policy
(c)
Strategic Analysis
(d)
Strategic Planning
Answer:
a.
Business strategy:
Business strategy can be defined
as the process of long range planning for executing ideas into action. You will
also learn why it is important for an organization to have a clear focus on its
strategy for its functioning.
Q2. Define strategic management. What are the
causes for failure of Strategic Management? (Definition of Strategic
Management, Causes for failure of Strategic Management) 3, 7
Answer:
Definitions
provided by some of the eminent authorities on the subject:
According to Gluek
W F – “Strategic management is a stream of decisions and actions which lead
to the development of an effective strategy or strategies to help achieve
corporate objectives”.
Q3. Write short notes on the following:
a)
Core competencies and their importance
b)
Strategic leadership. 5, 5
Answer: Core
Competencies and their Importance in Strategy Formulation
The term “Core
Competency” has its origin in an article titled “The Core Competence of the
Corporation”, written by C. K. Prahalad and Gary Hamel for the Harvard Business
Review in 1990. In this article, core competency has been defined as “The
collective learning and
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