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Exm - 22649 (1) - Strategic Managment
Exm - 22649 (1) - Strategic Managment
Chennai - 020
When operating priorities are implicit rather than explicit, they are
seldom understood uniformly among key executives and the entire
management and supervisory group. Priorities are frequently
determined by individual managers, applying their own best
judgment. Disagreement about priorities is natural. Yet a uniform
understanding of operating and improvement priorities by all
executives, managers and supervisors is critical for the successful
implementation of any operating plan.
Efficiency
offerings
The task for the planning group is now to identify the highest-
leverage target opportunities. They must sort through 20 to 40
possible high-leverage targets of opportunity to identify the 4 or 5
with the most promise for serving as the basis for the operating
plan’s objectives. The process is essentially one of screening each
nominated target against the priority criteria.
Conclusions:
A company’s business plan is one of its most important documents.
It can be used by managers and executives for internal planning. It
can be used as the basis for loan applications from banks and other
lenders. It can be used to start up ventures, the process of preparing
a business plan serves as a road map to the future by making
entrepreneurs and business owners think through their strategies,
evaluate their basic business concepts, recognize their business’s
limitations, and avoid a variety of mistakes.
E-Business:
E-Business In India
In the last few years of the 20th century all kinds of companies
began to think about doing business through the Internet. This is
astonishing given that, according to one view, e-commerce was
‘virtually non-existent’ in 1995. By 1998 the electronic economy
(e-economy) represented 6.5 percent of US GDP and 1 percent of
Japan’s GDP. This may not sound very much but the US e-
economy was expanding fast- by 65 percent in 1998. The rate of
growth to access the Internet grew dramatically. Already by 1996
tens of millions of people had access to the Web, but the numbers
were doubling each year at the time. At the start of the 2 1 century
some half a dozen countries, including the United States and
Germany, had one in five of their population with online access to
the Web via their own PCs. Internet service providers proliferated.
The United States had over 4,000 of them in 1996. Some, such as
America Online (AOL), quickly emerged as strong contenders for
leadership of this segment of the e-economy. Then banks,
insurance firms, book retailers, travel companies and various other
kinds of business moved quickly to establish a presence on the Net.
Many companies may have done so because they saw
opportunities. Many may have joined the Internet band wagon
simply in order to keep up with what their rivals are doing, or
might soon do.
Those firms adopting the first option face problems. Some are
relatively minor, such as that of seeking to register the firm’s name
on the World Wide Web only to find, as Rolex Watches did, that
their name had already been registered by someone else. This was
an early lesson for established firms. The Internet is a channel to
business activity with its own peculiar rules- such as registering
names on a first come first served basis. This must add to the sense
of uncertainty about the risks.
EVOLUTION TO E-BUSINESS:
Conclusion:
Strategic Management:
Environmental Scanning
Strategy Formulation
Strategy Implementation
Strategy Evaluation
Strategic Decisions
Business Policy
BCG Matrix
SWOT Analysis
Competitor Analysis
Strategic Leadership
Corporate Governance
Business Ethics
Core Competencies
PRACTITIONERS
A FUNCTIONAL VIEW:
Even if academic research finds a correlation between strategic
planning and performance it might still be objected that the case for
strategic planning is unproven. It might be said, for example, that
better performing organizations have the extra management
capacity needed to carry out strategic planning. In contrast.
organizations that are doing less well may not have the time or
spare attention to think about strategic planning.
§ Fighting brads
§ Price wars
o Will government intervene
o Can the staff, equipment, and processes handle the new strategy
• Failure to coordinate
o No critical path
• Poor communications
25 x 4=100 marks