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|PROGRAM||BACHELOR of business administration (BBA)|
|course CODE & NAME||DBB2201-Business Strategy|
|Number OF ASSIGNMENTS & Marks||02
30 Marks each
Assignment Set – 1
- (a) Discuss the nature and significance of strategic management.
Strategic Management: Nature and Significance
Nature of Strategic Management:
Strategic management is an integrative and comprehensive process that involves the planning, execution, and monitoring of organizational strategies to achieve specific objectives and sustain competitive advantage. Its nature can be encapsulated as follows:
1(b) What are the factors responsible for an effective strategy?
Effective strategy is the backbone of any successful organization or project. Crafting an effective strategy requires a careful blend of various components. Here are the key factors responsible for an effective strategy:
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- What is environmental scanning? Write about its underlying factors.
Environmental scanning is the process of gathering information about events and their relationships within an organization’s internal and external environments. The basic purpose of environmental scanning is to help management determine the future direction of the organization. It involves the acquisition and use of information about events, trends, and relationships in an organization’s external environment, the knowledge of which would assist management in planning the organization’s future course of action (Aguilar 1967, Choo and
- Discuss Michael Porter’s analysis.
Michael Porter’s Analysis: A Deep Dive
Michael Porter, an economist, researcher, author, advisor, speaker, and teacher, is often revered as the godfather of modern business strategy. His analytical frameworks, primarily concerning competition, have been foundational in the study of business and strategy. Porter’s work has significantly influenced both academic and corporate realms.
- The Five Forces Model
One of Porter’s most influential frameworks is the Five Forces Model, which dissects the competitive forces that shape every industry:
Assignment Set – 2
- Differentiate between horizontal and vertical growth strategy. How do they differ from concentric diversification?
Horizontal Growth Strategy:
Horizontal growth strategy involves expanding a company’s operations or market presence within its existing industry or market segment. It typically focuses on increasing market share, revenue, and profitability by either acquiring competitors or developing new products or services that cater to the same customer base. Here are some key characteristics and advantages of horizontal growth:
Market Expansion: Companies pursuing horizontal growth aim to capture a larger share of their
- What do you mean by strategy implementation? What are the important issues involved in it.
Strategy implementation refers to the methods, actions, and processes utilized by an organization to execute a strategic plan. It is the phase where the organization’s vision, mission, and strategy are translated into actionable tasks to achieve specific objectives. A successful strategy implementation requires a clear understanding of the strategy, allocation of necessary resources, ensuring the right people are in the right roles, establishing performance metrics, and ensuring that everyone in the organization understands their responsibilities. It involves aligning organizational systems, structures,
- What is strategic control? Discuss the criteria for strategic control.
Strategic Control: Definition and Criteria
Strategic Control: At its core, strategic control refers to the process by which an organization tracks the effectiveness of its strategy and makes requisite adjustments to ensure that the strategy remains relevant and effective in light of changing circumstances. It’s a system to ensure that the organization is moving in the desired strategic direction and achieving its predetermined goals.
Strategic control is not about assessing performance based purely on financial metrics. Rather, it seeks to measure performance in the context of the broader strategic objectives of the organization. For