STRATEGIES FOR PRODUCT/OPERATION,
HUMAN RESOURCES AND MARKETING
Production/operations management (POM) is
the core function in the business firm. This
involves a process of converting labor,
materials, etc., into the particular combination
of qualities that a selected group of customers
wants.
Production/Operation Management Strategies
1. Provide better goods and services.
2. Improve the organization's supply chain.
3. Reduce costs, such as labour, tariffs, taxes,
and more.
4. Learn to improve operations.
5. Understand other markets.
6. Employ top-of-the-line contributors from all
over the world.
Human resource strategies concern human
resource planning, recruitment and selection,
training and development, compensations and
rewards, employment security, and labor
relations.
• Leadership of the Organization Strategy
-HR plays a major role in the selection
of the company executives by earning
the respect of the decision-making
team through previous staffing
successes and conducting effective
searches.
• Talents Strategy -HRM is responsible for
forecasting future staffing needs and
creating plans for recruiting, hiring and
retaining top talent.
• High Performance Culture Strategy -
HRM strategies support leaders in the
planning of activities to foster an
organizational culture where employees
enjoy working and are appreciated.
• Strategic Planning -HRM strategies play
an important role in defining and
implementing many of these plans.
Marketing consists of four strategic
considerations: products/services, pricing,
channels of distribution / location of outlets,
and promotion.
Marketing Strategies
• A firm using a product development
strategy creates a new product or
service for existing customers.
• A number of pricing options are
available. A lower price will be desirable
to increase volume.
• The functional strategy for the place
component identifies where, when, and
by whom the product/services are to be
offered for sale
• Promotion refers to the methods which
are used to put products and services in
the public eye.
STRATEGY EVALUATION
Strategic Evaluation is defined as the process of
determining the effectiveness of a given
strategy in achieving the organizational
objectives and taking corrective action
wherever required.
The key strategy evaluation activities are:
(1) Examining the underlying bases of a firm’s
strategies,
2) Comparing actual results with expected
results, and
(3) Taking remedial/corrective actions.
 • Nature of the strategic evaluation and
control process is to test the
effectiveness of strategy.
• Adequate & timely information is the
cornerstone of effective Strategy
Evaluation.
Strategy Evaluation is operated at two levels:
(1) Strategic Control - are concerned more
about the consistency of strategy with the
Environment.
(2) Operational Control - the effort is given
towards assessing how well the organization is
pursuing a given strategy.
CHARACTERISTICS OF EFFECTIVE STRATEGIC
MANAGEMENT
-Strategy evaluation activities must
be economical.
-Strategy-evaluation activities also should be
meaningful.
-Strategy-evaluation activities
should provide timely information.
-Strategy evaluation should be designed
to provide a true picture of what is happening.
- Strategy evaluations should be simple.
Contingency Planning
-The overall planning for unexpected events
-Involves preparing for, detecting, reacting to,
and recovering from events that threaten the
security of information resources and assets.
They suggested that effective
contingency planning involves a six-step
process as follows:
1. Identify both beneficial and unfavourable eve
nts that could possibly derail
the strategy or strategies.
2. Calculate about when contingent events are li
kely to occur.
3. Assess the impact of each contingent event. E
stimate the potential benefit or harm of each
contingent event.
4. Develop contingency plans. Be sure that conti
ngency plans are compatible with current strate
gy and are economically feasible.
5.Determine early warning signals for key contin
gent events. Monitor the early warning signals.
6. For contingent events with reliable early war
ning signals, develop advance action plans to ta
ke advantage of the available lead time.
Strategic Auditing
A strategic audit is an examination and
evaluation of areas affected by the operation of
a strategic management process within an
organization.
COMPUTER USED IN EVALUATION AND
GUIDELINES FOR EFFECTIVE STRATEGIC
MANAGEMENT
 Formal strategies- All the policies that
are put into action must be formalized.
 Space for quick adaptation-Projects
prepared with guidelines for effective
strategic management assignment help
elaborate that there should be no fixed
policy.
 Objectives of the respective
organization should be upheld-Every
organization has their own objectives.
 The strategic policies have to be
created keeping these points in mind.

 Consistency in strategies -All of the

strategies that are prepared should
have a connection or consistent nature.

Reviewing implemented policies- No policy is

perfect, after implementation, the management
must review all aspects of the implemented
idea and seek which points have worked and
the areas that need further improvement.

GLOBAL ISSUES IN STRATEGIC MANAGEMENT

Global Strategy- The plans developed by an

organization to target growth on a global level
for sales of products or services.

Guidelines for Success as a Global Competitor

1. Get to know global markets first.

2. Counter-attack at home for parent firms
(attack them at their homes).
3. Invest in new technology.
4. Consider alternative sources.
5. Install the right management at host
countries.
6. Sacrifice for short-term profit for long-
term profit.
7. Join forces with competitors