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Business Policy and Strategic Management
Post: #1


.doc  bpsm1 notes.doc (Size: 510 KB / Downloads: 203)
Business Policy and Strategic Management
2 marks( points and concepts only)

1. What are business objectives ?
Any thing that the business organization wants to achieve over a specified period of
time is called business objective.
2. What are the objectives of business ?
a. Economic Objectives – profit earning, creating customers, best use of resources
b. Social Objectives – quality goods, fair trade practices, general society welfare
c. Human Objectives – economic, social well being , development of employees
d. National Objectives – employment, production according to national priority, GDP, exports self sufficiency
e. Global Objectives – raise global standards, reduce global disparities, globally competitive products
3. What are the macro environment factors ?
Socio economic
Technology
Government- political and regulatory
Cultural
International
Demographic
natural
( Expect questions in each of the above environment sectors . learn points with examples for each )
4. What are the micro environment factors ?
Customer
Supplier
Competitor
Public
Marketing intermediaries
( Expect questions in each of the above environment sectors . learn points with examples for each )
5. What are the external and internal sectors of the environment ?
External = Macro + Micro ( see above points )
Internal = Factors inside the company such as culture, climate, leadership, systems..
6. What is Business ethics ?
Morality in business environment, based on society norms, involves goodness or badness of an act . Goes beyond legal issues.
7. Mention some unethical practices ?
Giving or taking bribe
Information in exchange of money..
Kick backs for contracts
Promotions, transfers
Hoarding and blackmarketing
Poor product quality
8. What is CSR ?
• Corporate Social Responsibility
• Fulfilling the obligations towards the society and improving its economic and social conditions by all possible means
9. What are the areas of CSR ?
Environment –pollution, noise, water,..
Consumerism- quality, warranty, harmful..
Community- health, water, education
Avoiding Lobbying- with Government
Giving- scholarships,education, orphanages,
Disadvantaged- handicapped, unskilled..
Labour – health, safety, partcipation
Transparency- financial disclosures
Avoiding monopolistic activities- unfair trade practices
Post: #2
Business Policy & Strategy


.pptx  Business Policy & Strategy.pptx (Size: 152.18 KB / Downloads: 77)

Entry Barriers

Scale Economies
Product differentiation
Capital requirements
Switching costs
Distribution access
Cost disadvantages independent of scale (proprietary product technology, raw material access, locations, subsidies,
Govt. policies
Expected retaliation

Slow Industry Growth
High fixed / storage costs
Lack of differentiation and low switching costs
Capacity Augmentation (PVC)
Diverse competition
High strategic stakes
High exit barriers and Mobility barriers

Strategic Groups

A group of firms in an industry following the same or similar strategy along the same strategic dimensions

Strategic Group Analysis

Strategic group mapping is an analytical tool. Methods and Techniques for Analyzing Business Competition, we have often been asked to identify the most useful or insightful models for CI. Each model has its own strengths and weaknesses: selecting the most useful or most insightful technique is always highly dependent on the strategic issue at hand. However, among the vast number of techniques available, many are either unknown to most analysts and CI professionals or under-utilized, and yet they can provide great insight. One of these analytical techniques is strategic group analysis.

Analysis is used to determine:

Different competitive positions of companies in the industry
Intensity of rivalry within and between groups
Profit potential of various groups
Implications of competitive position

Porter’s Five Force Model:

Threats of entry
Internal rivalry
Bargaining power of buyers and suppliers
Threat of substitution
The Five Forces jointly determine the profitability of the industry, the groups in the industry and individual companies within the groups

Weaknesses

Provides little guidance on implementation
Depends on identifying the strategically important dimensions
Requires in-depth industry knowledge and experience
Does not incorporate importance of government and social issues
Post: #3
STRATEGIC MANAGEMENT AND BUSINESS POLICY


.ppt  1STRATEGIC MANAGEMENT.ppt (Size: 498.5 KB / Downloads: 64)

Strategic intent

Strategic intent is an obsession with an organisation: an obsession by having ambitions that may even be out of proportion to their resources and capabilities. This obsession is to win at all levels of the organisation while sustaining that obsession in the quest for global leadership.

Concept of stretch, leverage and fit

Stretch is "a misfit between resources and aspirations"
Leverage refers to concentrating, accumulating, complementing, conserving, and recovering resources in such a manner that meagre resource base is stretched to meet the aspirations that an organisation dares to have.
Fit means positioning the firm by matching its organisational resources to its environment

Vision

Kotter (1990) defines it as a "description of something (an organization, a corporate culture, a business, a technology, an activity) in the future".
El-Namaki (1992) considers it as a "mental perception of the kind of environment an individual, or an organization, aspires to create within a broad time horizon and the underlying conditions for the actualization of this perception".
Miller and Dess (1996) view it simply as the "category of intentions that are broad, all-inclusive, and forward thinking".

Core ideology and envisioned future

The core ideology defines the enduring character of an organisation that remains unchangeable as it passes through the vicissitudes of vectors such as technology, competition or management fads.
The envisioned future too consists of two components: a 10 - to - 30 years audacious goal and vivid description of what it will be like to achieve that goal.

Mission

Thompson (1997) defines mission as the "essential purpose of the organization, concerning particularly why it is in existence, the nature of the business(es) it is in, and the customers it seeks to serve and satisfy".
Hunger and Wheelen (1999) say that mission is the "purpose or reason for the organization's existence".
Post: #4
thanks for the attachments
Post: #5
Business policy as a discipline Meaning and nature of management What is strategy Generic Strategic alternatives The dynamics of competitive strategy Strategic management Strategic decision making The task of strategic management Vision, Mission and Objectives Strategic Levels n Organisation. Business Policy defines The scope or spheres within which decisions can be made by subordinates in an organisation. It allows lower-level management to deal with problems and problems without consulting senior management each time to make decisions.
Business policies are the guidelines developed by an organisation to govern its actions. They define the limits within which decisions must be made. The business policy also deals with the acquisition of resources with which the objectives of the organisation can be achieved. Business policy is the study of the functions and responsibilities of high-level management, the important issues that affect the success of the organisation and the decisions that affect the organisation in the long run.
Characteristics of corporate policy
An effective trade policy must have the following characteristics:
1. The specific policy must be specific / defined. If it is uncertain, then implementation will be difficult.
2. Clear: the policy must be unequivocal. Avoid jarring and connotations. There should be no misunderstanding in following the policy.
3. Reliable / Uniform - The policy should be sufficiently uniform so that it can be followed efficiently by subordinates.
4. Appropriate policy must be appropriate to the organisation's current purpose.
5. Simple - A policy should be simple and easy to understand by everyone in the organisation.
6. Inclusive / Comprehensive-To have a broad scope, a policy must be comprehensive.
7. Flexible - The policy must be flexible in operation / application. This does not imply that a policy should always be altered, but it must have a broad scope to ensure that line managers use it in repetitive / routine scenarios.
8. Stable-Policy should be stable, but it will lead to indecision and uncertainty in the minds of those looking at it for guidance.
Difference between policy and strategy
The term "policy" should not be taken as synonymous with the term "strategy". The difference between policy and strategy can be summarised as follows:
1. Politics is a model of organisational activities that are repetitive / routine in nature. Although the strategy refers to those organisational decisions that have not been dealt with earlier in the same way.
2. Policy-making is the responsibility of top management. While the strategy formulation is basically done by mid-level management.
3. The policy deals with the daily / daily activities essential for the efficient and efficient functioning of an organisation. While strategy deals with strategic decisions.
4. Politics deals with both thinking and actions. While strategy refers primarily to action.
5. A policy is what it is, or what is not done. While a strategy is the methodology used to achieve an objective as prescribed by a policy.
 

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