Dr. (Mrs) Kishori J Bhagat M.Com., M.Phil.,

Transcript:Dr. (Mrs) Kishori J Bhagat M.Com., M.Phil.,:
Dr. (Mrs) Kishori J Bhagat M.Com., M.Phil., M.B.A., NET, Ph.D.(Commerce), Ph.D. (Management Studies) Strategic Management MCom Semester I 2020-2021 Syllabus Introduction to Strategic Management Module I Introduction to Strategic Management Concept of Strategic Management, Strategic Management Process, Vision, Mission and Goals, Benefits and Risks of Strategic Management. Levels of Strategies: Corporate, Business and Operational Level Strategy • Functional Strategies: Human Resource Strategy, Marketing Strategy, Financial Strategy, Operational Strategy Business Environment: Components of Environment- Micro and Macro and Environmental Scanning Strategic Management A strategy is a unified, comprehensive and integrated plan that relates the strategic advantages of the firm to the challenges of the environment. It is designed to ensure that the basic objectives of the enterprise are achieved through its proper execution by the organization Long term, broad based, action plan Nature Unified, comprehensive and integrated Universal applicable Strategy alternatives Strategic review Applicable to all functional areas Allocation of resources Objective oriented Relates to environment Future oriented Levels of strategy Strategic Management Process Strategy formulation Frame mission Analysis of internal environment- SW Analysis of external environment - OT Setting objectives Gap analysis Framing alternative strategies Analysis of alternatives Choice of best strategy Strategy implementation Formulation of plan Identify activities Group activities Organizing resources Allocation of resources Strategic Management Process Strategy evaluation Setting standards Measurement of performance Comparison of actual with standards Finding out deviations Analyzing deviations Taking corrective measures Mission Statement on organizational philosophy and purpose What are we Vision What do we want to be Goals/Objectives Profits Growth Wealth Customer satisfaction Employees satisfaction Productivity Corporate image enhance Social responsibility Efficiency Importance Define organization Facilitate planning Facilitate organizing Facilitate direction Evaluation Facilitate decision-making in all functional areas Help co-ordination Motivates personnel Reduces wastage Team work Higher efficiency Survival & growth Benefits – Strategic Management Choice of strategy Competitive advantage Corporate image enhance Organizational efficiency Organizational objectives Organization resources SWOT analysis Facilitate planning Facilitate organizing Facilitate direction Evaluation and control Communication Coordination Reduce disputes Risk/ Limitations - Strategic Management Limitation of Assumptions Problem in Analyzing environment Unrealistic mission and objectives Problem in setting target Problem in Implementation Lack of evaluation Lack of communication – lower level Problem of resistance Theoretical in nature Problem of internal politics Problem of Traditional Management Levels of Strategies Corporate Strategies Stability Growth Internal- expansion, diversification External – merger, amalgamation, joint venture Retrenchment/Retreat Turnaround Divestment Liquidation Combination Business Competitive strategy Cooperative strategy Functional Production strategies R &