Professional Documents
Culture Documents
Business Strategy
Business Strategy
Business Strategy
- SWOT analysis
- Formulating corporate level strategies
- Formulating business level strategies
- Undertaking strategic analysis
- Objectives of the business/organization
- Preparing the strategic plan
Strategic Management
3. Implementation of Strategy
• Finalizing strategies
• Project implementation- Setting up of the
organization
• Procedural implementation- Deals with the
different aspects of the regulatory framework
within which the organization has to operate
• Allocating resources - Arranging for the resources
• Designing the corporate structure, systems and
processes - to match the structure to the strategy
Strategic Management
3. Implementation of Strategy
• Managing the implementation of the strategies w.r.t.
behavioural aspects - leadership styles of senior
managers
• Functional aspects :policies to be formulated in diff
functional departments
• Operational aspects deals with productivity,
processes, people and the speed of implementation
of the strategies
Strategic Management
4. Evaluation of Strategy
-Monitors the implementation of strategies
-Measures the resultant organizational performance
-Strategies are re-formulated/course correction
Strategic Management
Definitional
decisions : e.g. defining
business, identifying
customer groups,
functions, technologies
Goalistic
decisions: e.g. Operational
defining corporate decisions :e.g.
& functional strategies, tactics &
objectives & action programmes
technologies
Concept of Strategic Management
Comprehensively includes…
CORPORATE APPRAISAL
--------------------------
STRENGTHS
WEAKNESSES
Concept of Strategic Management
Comprehensively includes (cont.)…
Vision
To become a knowledge-driven global
pharmaceutical company with the highest level
of operational excellence in all
Mission
Vision
To become a globally integrated healthcare solution
provider through relentless pursuit of knowledge,
expertise, quality, service and value addition in every
facet of our business.
Mission
To make quality healthcare easily accessible to all
Vision
To emerge as a leading integrated research –
based global pharmaceutical company
Business Goals & Objectives
Business
• Business or firm or enterprise is an
organization engaged in trade of goods,
services, or both to consumers. Their primary
objective is to earn profits, growth and wealth
creation. Business owned by multiple
individuals is referred to as company.
Goals & Objectives
• Objective is where the business wants to go in
the future, it’s aim. e.g. We want to enter
European market could be one goal.
• Objective could be a destination or presence
in terms of - products, therapy, geography,
skill, expertise, dominance, leadership.
• Goals are clearly defined targets. Measurable
and quantifiable/numbers e.g. sales. Market
share, growth, PCPM
Business, Goals & Objectives
• Turning objectives into measurable goals
facilitates management planning,
implementation, and control.
• To be effective, goals must
– be arranged hierarchically to guide the businesses
in moving from broad to specific objectives for
departments and individuals
– be stated quantitatively whenever possible
– be realistic
– be consistent.
Corporate Governance
• Earlier, most companies were small, family owned
and family run. The evolution of public ownership
has created a separation between ownership &
management.
• In an attempt to create a corporation, where
stockholders’ interests are looked after, firms have
multi-tier corporate hierarchy.
Corporate Governance
• Set of mechanisms that influence the
decisions made by managers where there is a
well defined ownership & control.
• Shareholders
• Board of Directors
• Chairman
• Executive Directors
• Non-executive Directors
• Management Team
• CEO, COO, CFO, CTO
Need for Corporate Governance
• Changing ownership structure
• Social responsibility
• Scams
• Corporate Oligarchy
• Globalization
• Transparency
• Accountability
• Merit based management
Trends in Corporate Governance
• Boards involved in reviewing, decision making & shaping
organizations
• Institutional investors like banks, FIs, MFs, Insurance
companies have representations on board
• Non-Executive Directors are playing key advisory roles
• Boards are getting smaller, partially because of reduction of
insiders, and being replaced by increasing numbers of new
directors with specialized knowledge & expertise
• As companies become global, international experience is
gaining importance
Corporate Social Responsibility
• Economic
• Social
• Public