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DRIVE
FALL
2016
PROGRAM/SEMESTER
MBADS/
MBAFLEX/ MBAHCSN3/ MBA – SEM 4
PGDBMN/
PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/
PGDPMN/PGDROMN/ PGDSCMN/ PGDTQMN – SEM 2
SUBJECT
CODE & NAME
MB0052-
Strategic Management and Business Policy
1
Briefly discuss concept of strategy? Explain the various levels 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
2
How strategic planning and strategic management are interrelated to each other?
Which comes first?
Strategic Planning
and Strategic Management
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
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 in terms of Internal & External Analysis? Explain
SWOT analysis in the form of a matrix?
SWOT Analysis
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 needs to know its weaknesses in terms
of competence, because weaknesses may affect its capability to take advantage
of an opportunity or negotiate a threat. So, simultaneously with environmental
analysis or appraisal, organizations also need to assess their internal strengths
and weaknesses. This is
5
Define corporate turnaround? Distinguish between surgical and nonsurgical
turnaround. Explain with some examples?
Turnaround Strategy
Surgical turnaround
and 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.
Characteristics of
an Effective Evaluation System
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
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