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SPRING 2016
Program
MBA - SEM 4
Subject
code & name MB0052- Strategic Management and Business Policy
1
What is strategy? Explain the various level of strategy in an organization.
Meaning of strategy
Levels
Answer: 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
2
Specify the interrelationship between strategic planning and strategic
management. Which comes first?
Explanation of the
concepts
Answer: Strategic
Planning and Strategic Management
Plan or planning should precede action. And, strategic
planning should precede strategic management. Strategic planning (also called
corporate planning) provides the framework (some call it a tool) for all major
decisions of an enterprise—decisions on products, markets, investments and
organizational structure. In a successful organization, strategic planning or
strategic planning division acts as the nerve centre of business opportunities
and growth. It also acts as a restraint or defence mechanism that helps an
organization foresee and avoid
3
What is a mission statement? Differentiate between a mission statement and a
vision statement.
Mission
Statement
Differences
Answer: Mission Statement
‘A
business is not defined by its name, statutes or articles of incorporation. It
is defined by the business mission. Only a clear definition of the mission and
the purpose of the organization makes possible clear and realistic business
4
What is SWOT analysis? Explain SWOT analysis in the form of a matrix?
Explanation of the
concepts
Answer: ETOP and
EFEM focus only on the opportunities and threats from the environment. But, to
exploit an opportunity or to consider a threat, a company should have required
strengths or competence. A company also
5
Define corporate turnaround? Distinguish between surgical and nonsurgical
turnaround. Explain with some examples?
Corporate
turnaround
Surgical turnaround
nonsurgical
turnaround
Answer: Corporate turnaround may be
defined as organizational recovery from business decline or crisis. Business
decline for a company means continuous fall in turnover or revenue, eroding
profit, or accrual or accumulation of losses. So, business or organizational
decline, like business performance, is understood in relative terms,
6
What are the major characteristics of an effective strategy evaluation system?
Analyse these characteristics.
Explanation of the
concepts
Answer: Strategic
analysts have laid down certain basic requirements which evaluation should
comply with to be effective.
First, strategy evaluation process or measures should
be meaningful. These should
specifically relate to the objectives/targets and the plan. There should be
clear focus and no ambiguity.
Second, strategy evaluation and control process should
be economical. This means that
the process should not be made
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