1.What is strategic management?

Strategic management is the process of setting goals,

procedures, and objectives in order to make a company or
organization more competitive. Typically, strategic management
looks at effectively deploying staff and resources to achieve
these goals. Often, strategic management includes strategy
evaluation, internal organization analysis, and strategy execution
throughout the company.
2.what is strategy differentiate strategy and tactics
While strategy is the action plan that takes you where you want
to go, the tactics are the individual steps and actions that will get
you there. In a business context, this means the specific actions
teams take to implement the initiatives outlined in the strategy
3.Identify the various features of a strategy
The features of a strategy are:
 Creation of a plan to outdo the rivals.
 Also, assist managers in responding to any changes in the
business environment.
 Redefine direction towards common objectives.
 Enable effective mobilization of resources.
 Finally, improve the organization's chances to achieve the
set targets.
4. different types of strategies?
 Competitive Strategy: Firstly, competitive strategy is the
first of the kinds of strategies in strategic management. ...
 Corporate Strategy: ...
 Business Strategy: ...
 Functional Strategy: ...
 Operating Strategy
5. concept of strategic intent
Strategic intent is the term used to describe the aspirational
plans, overarching purpose or intended direction of travel
needed to reach an organizational vision. Beneficial change
results from the strategic intent, ambitions and needs of an
organization.
6. interpret planned and reactive strategies
 Planned strategy is based around a formal process of
setting corporate objectives and developing a coherent
business strategy designed to achieve those objectives
with the resources available.
 Reactive strategies are actions, responses and planned
interventions in response to the presentation of
identifiable behavior that challenges
7. corporate governance?
Corporate governance is the combination of rules, processes
or laws by which businesses are operated, regulated or
controlled. The term encompasses the internal and external
factors that affect the interests of a company's stakeholders,
including shareholders, customers, suppliers, government
regulators and management.
8. compare strategic fit and leverage
Concept of Stretch, Leverage. and Fit. • Stretch is a misfit
between resources and aspirations. • Leverage refers to
concentrating, accumulating, complementing, conserving, and
recovering resources in such a manner that meagre resource base
is stretched to meet the aspirations that an organisation dares to
have.

9. understnding towards environmental scanning in strategic

management?
Environmental scanning in strategic management is termed as
the utilizationclass and possession of information regarding
patterns, relationships, occasions and trends within a
company's external and internal environment that impact the
future and current strategies
10. classify planning
Classification of Plans in An Organisation : 4 Classes
1. Strategic Plans: Strategic plans are made to achieve the
overall organisational goals. ...
2. Tactical Plans: Tactical plans are the means to support and
implement strategic plans. ...
3. Operational Plans: Operational plans support the tactical
plans
11. how is ethics related to strategic management
Strategic management demands effective and efficient use of
corporate resources in both the long and short‐term. Ethics
are the shelter under which moral, social, and legal issues
reside; thus, using components of ethical analysis as a
foundation for these decisions may result in the best use of
corporate resources.
12. CSR ?
Corporate Social Responsibility (CSR) is an organization's
obligation to consider the interests of their customers,
employees, shareholders, communities, and the ecology and to
consider the social and environmental consequences of their
business activities
13. what are strategic unit and strategic area?
Strategic Management is a relatively new discipline focused in
the field of. management, and provides overall direction to an
organization for attaining its. objectives and achieving success.
It is an ongoing process in which an. organization continuously
updates its strategies with respect to changes taking.
14. examples of mission statement?
Tesla. “To accelerate the world's transition to sustainable energy

Unit 2
1.compeitative advantage?
Competitive advantage refers to factors that allow a company
to produce goods or services better or more cheaply than its
rivals. These factors allow the productive entity to generate
more sales or superior margins compared to its market rivals.

2. 7s mc kinsey frame work?

The McKinsey 7S Model refers to a tool that analyzes a
company's “organizational design.” The goal of the model
isdepict how effectiveness can be achieved in an organization
through the interactions of seven key elements – Structure,
Strategy, Skill, System, Shared Values, Style, and Staff.
3. list the elements of porters five forces?
Porter's five forces are:
 Competition in the industry.
 Potential of new entrants into the industry.
 Power of suppliers.
 Power of customers.
 Threat of substitute products1 Key Takeaways.
4. What is environmental scanning?
Environmental scanning is the ongoing tracking of trends and
occurrences in an organization's internal and external
environment that bear on its success, currently and in the
future. The results are extremely useful in shaping goals and
strategies.
5. Highlight the advantages of national competitive advantage?
Michael Porter's Diamond Model (also known as the Theory of
National Competitive Advantage of Industries) is a diamond-
shaped framework that focuses on explaining why certain
industries within a particular nation are competitive
internationally, whereas others might not.
6. What is SWOT analysis?
A SWOT analysis is a tool for documenting internal strengths
(S) and weaknesses (W) in your business, as well as external
opportunities (O) and threats (T). You can use this information
in your business planning to help achieve your goals
7. Explain differentiation strategy
A differentiation strategy is an approach businesses develop by
providing customers with something unique, different and
distinct from items their competitors may offer in the
marketplace. The main objective of implementing a
differentiation strategy is to increase competitive advantage.
8. Examine the term distinctive competitive advantage
Distinctive competence: A capability that is visible to the
customer, superior to other firms' competencies to which it is
compared, and difficult to imitate. Competitive advantage: A
capability or resource that is difficult to imitate and valuable
in helping the firm outper- form its competitors.
9. Discuss the meaning of strategic myopia?
Strategic myopia is a condition in which the management of a
business can see clearly those things that are to take place in
the short term, but have only a fuzzy view of what their future
might be over the longer term.
10. Explain globalization and industry structure.
GLOBALIZATION AND INDUSTRY STRUCTURE In
conventional economic system, national markets are separate
entities separated by trade barriers and barriers of distance, time
and culture. With globalization, markets are moving towards a
huge global market place.
11. Define environment
Definition of Business Environment is sum or collection of all
internal and external factors such as employees, customers’
needs and expectations, supply and demand, management,
clients, suppliers, owners, activities by government, innovation
in technology, social trends, market trends, economic changes,
etc.
12. Differentiate internal and external environment and its
entities.
Internal Environment refers to all the inlying forces and
conditions present within the company, which can affect the
company's working. External Environment is a set of all the
exogenous forces that have the potential to affect the
organization's performance, profitability, and functionality.

13. How does a firm acquire competitive cost advantage?

To achieve a competitive advantage, the firm must perform
one or more value creating activities in a way that creates
more overall value than do competitors. Superior value is
created through lower costs or superior benefits to the consumer
(differentiation).
14. What is ETOP, PEST and SAP?
 When a firm analyzes its internal capabilities as stated
above the process is known as SAP (Strategic Advantage
Profile).
 On the other hand , analysis of external environment to find
out opportunities and threats are known as ETOP Analysis
(Environmental Threats and Opportunities Profile).
 PEST stands for Political, Economic, Social, and
Technological factors.
15. Differentiate resources and capability.
While resources refer to what an organization owns, capabilities
refer to what the organization can do. More specifically,
capabilities refer to the firm's ability to bundle, manage, or
otherwise exploit resources in a manner that provides value
added and, hopefully, advantage over competitors.

UNIT-III
1. What is a strategic alliance?
A strategic alliance is an arrangement between two
companies to undertake a mutually beneficial project while
each retains its independence. ... A company may enter into a
strategic alliance to expand into a new market, improve its
product line, or develop an edge over a competitor.
2. Compare vertical integration with horizontal integration.
Horizontal integration is an expansion strategy adopted by a
company that involves the acquisition of another company in the
same business line. Vertical integration refers to an expansion
strategy where one company takes control over one or more
stages in the production or distribution of a product.
4. What is stability strategy?
Stability Strategy is a corporate strategy where a company
concentrates on maintaining its current market position. A
company that adopts such an approach focuses on its existing
product and market. ... Usually, a company that is satisfied with
its current market share or position uses such a strategy.
5. Give your opinion about cost leadership strategy.
Cost leadership is a part of marketing strategy. ... To deploy this
strategy, a company has to produce goods which are of
acceptable quality and specific to a set of customers at a
price which is much lower or competitive than other companies
producing the same product.
6. Define turnaround strategy.
Definition of Turnaround Strategy is a retrenchment strategy
followed by an organization when it feels that the decision
made earlier is wrong and needs to be undone before it
damages the profitability of the company. ... Turnaround
strategy is applicable to the loss-making business unit.
7. Compare harvest and liquidation?
A harvest mission or strategy is where a business unit attempts
to maximize its short-term cash flows and profits regardless of
the effects this will have on market share. The divest strategy
occurs when the business unit is exiting the market and seeking
to withdraw or sell its share in the market.
8. Discuss the aspects to be considered before merging.
 It's More Than Numbers.
 Mergers Of Equals Rarely Work.
 Consider Costs And Culture.
 Think Of The Impact On Customers.
 Know Your Leverage.
 Focus On Your Objective.
 Be Willing To Walk Away.
 Keep The Bigger Picture In Mind.
9. Define the term ‘balance score card’
A balanced scorecard is a performance metric used to
identify, improve, and control a business's various functions
and resulting outcomes. ... The balanced scorecard involves
measuring four main aspects of a business: Learning and
growth, business processes, customers, and finance.
10. Discuss the concept of hostage taking.
Hostage taking is defined as the seizing or detention of an
individual coupled with a threat to kill, injure or continue to
detain such individual in order to compel a third person or
governmental organization to take some action.
11. Explain with examples vertical integration.
An acquisition is an example of vertical integration if it results
in the company's direct control over a key piece of its production
or distribution process that had previously been outsourced. A
company's acquisition of a supplier is known as backward
integration.
12. What is grand strategy
Grand strategy or high strategy is the long-term strategy
pursued at the highest levels by a nation to further its
interests. ... In business, a grand strategy is a general term for a
broad statement of strategic action. A grand strategy states the
means that will be used to achieve long-term objectives.
13. What is vertical integration?
Vertical integration is a strategy used by a company to gain
control over its suppliers or distributors in order to increase
the firm's power in the marketplace, reduce transaction costs and
secure supplies or distribution channels.
14. What do you mean by global compact?
The United Nations Global Compact is a non-binding United
Nations pact to encourage businesses and firms worldwide to
adopt sustainable and socially responsible policies, and to
report on their implementation. ... Under the Global Compact,
companies are brought together with UN agencies, labor groups
and civil society.
15. Draw the GE 9 Cell Model.
The GE 9 cell matrix is a way of structuring an organization's
strategy into manageable segments. The GE 9 Cell Model is a
process of establishing the organization's current position in
the market. It can then evaluate each of its strategies and
choose a course of action to take.

- UNIT IV
1. Define organizational structure.
An organizational structure is a system that outlines how
certain activities are directed in order to achieve the goals of
an organization. ... The organizational structure also determines
how information flows between levels within the company.
2. Explain types of structures?
It outlines an employee's role and various responsibilities within
a company. ... In addition, the more organized a structure is, the
more efficiently a company operates. There are four types of
organizational structures: functional structures, flatarchy
structures, matrix structures and divisional structures.
3. Show your understanding on matching structure
Reflect on how strategycritical functions and organizational
units relate to those that are routine and to those that provide
staff support. ... Make strategycritical business units and
functions the main organizational building blocks.
4. What are all the types of organizational structure?
The four types of organizational structures are functional,
divisional, flatarchy, and matrix structures.
5. Categorize the types of power and explain what power is?
Personal power is the ability to control the environment around
you. This can be accomplished through the five different types
of power: reward power, coercive power, legitimate power,
expert power, and referent power.
6. Is politics part of strategy implementation?
Groups or organizations use power and politics to control their
members, maintain and preserve themselves. Power and
politics are integrated processes that have to be managed and
used effectively in order to achieve individual and organisational
cohesion and ventilate their differences.
7. What is strategic evaluation?
Strategy evaluation is the process by which the management
assesses how well a chosen strategy has been implemented
and how successful or otherwise the strategy is.
8. What do you mean by strategic surveillance?
Strategic surveillance is the observation of events and
situations that may affect a company's bottom line. This can
be achieved through customer interviews, the review of
industry-related research, and the monitoring of websites and
social media.
9. List down different types of strategic control.
Strategic Control – 4 Major Types: Premise, Implementation,
Strategic Surveillance and Special Alert Control.
10. Conclude your understanding on the strategic control cycle.

11. Discuss the techniques of strategic evaluation and control?

Techniques for evaluating the effectiveness of a company's
strategy include evaluating internal and external forces that
influence strategy execution, measuring company performance
and determining appropriate corrective measures
12. What are the sources of organizational power?
Formal power is based on an individual's position in an
organization. Formal power can come from the ability to coerce
or reward, from formal authority, or the control of
information. The formal power is based on rank—for example,
the fire chief or the captain.
13. What is resource allocation
In strategic planning, resource allocation is a plan for using
available resources, for example human resources, especially in
the near term, to achieve goals for the future. It is the process of
allocating scarce resources among the various projects or
business units.
4. Explain strategic budgeting.
Strategic budgeting is the process of creating a long-range
budget that spans a period of more than one year. The intent
behind this type of budgeting is to develop a plan that supports a
long-range vision for the future position of an entity. ... Strategic
direction. Risk management. Competitive threats.
15. Define social audit.
A social audit is a systematic study and evaluation of an
organization's social performance, as distinguished from its
economic performance. ... It enables management to provide
information to external groups that make demands on the firm
for social performance.

UNIT – V

1. What is a lead user?

His definition for lead user is: ... Lead users face needs that will
be general in a marketplace – but face them months or years
before the bulk of that marketplace encounters them, and. Lead
users are positioned to benefit significantly by obtaining a
solution to their needs and so may innovate.
2. Explain corporate entrepreneurship
Corporate entrepreneurship is the process of creating new
businesses from within an existing business through product
and process innovations. In today's competitive environment,
corporate entrepreneurship is a vital strategic management
 concept for all businesses regardless of size and stage of
development.
3. Identify new models in internet economy
1. Servitisation model – Rolls Royce charging customers on a
fixed cost per flying hour basis.
2. The subscription model - Netflix and Apple music.
3. On-demand sharing model – Uber and Air BnB.
4. Sharing/ free model customer is the content creator and big data
mining – Facebook, Linked in, google and Twitter.

4. Can you assess the importance of entrepreneurial venture?

Strategic entrepreneurship shaping entrepreneurial activity from
a strategic perspective helps corporations raise their
performances and develop property competition advantage
via increasing profit or market share.

5. What is innovation in context?

Strategic innovation is an organization's process of
reinventing or redesigning its corporate strategy to drive
business growth, generate value for the company and its
customers, and create competitive advantage. This type of
innovation is essential for organizations to adapt to the speed of
technology change.

6. List down the factors influencing success of a new venture?

 The 8 Factors of Business Success
 A Plan. Having a plan is the first necessity for success. ...
 Perseverance. ...
 Understanding that success or failure is not permanent. ...
 Shared belief and a team spirit. ...
 Motivation. ...
 Clear vision of what success is. ...
 Maximise resources available. ...
 Clear understanding of time, money and resources.

7. Analyze the concept of strategic piggybacking.

According to Business Directory, piggyback marketing is
defined as: “A low cost market entry strategy in which two or
more firms represent one another's complementary (but
non-competing) products in their respective markets.”
Companies have engaged in piggyback marketing for a long
time, and more recently, online
8. Why innovation management is critical for?
The importance of integrating strategy and innovation processes.
... By generating new options, this process allows a company's
leaders to see new opportunities to grow – that their existing
strategy has not taken into consideration.
9. What is a nonprofit organization?
 Strategic management in nonprofit organizations is the process
of selecting an organization's goals, determining the strategic
programs necessary to achieve specific objectives in route to
the goals, and establishing the methods necessary to assure that
the policies and strategic programs are implemented.
10. Evaluate the characteristics of innovative entrepreneurial
culture?
10 CHARACTERISTICS OF AN INNOVATIVE
CULTURE
 Active opportunity management. ...
 Adequate funding of ideas. ...
 Leadership role modeling. ...
 Stretch goals and a higher purpose. ...
 External stimulus. ...
 Controlled madness. ...
 Up-Down-Left-Right collaboration. ...
 Stories everywhere.

11. What is “Brick and click strategy?

Brick and Click is a business model by which a company
integrates both offline (bricks) and online (clicks) presences.
The Brick and Click model has typically been used by
traditional retailers who have extensive logistics and supply
chains.
12. What are the issues in alliances with foreign companies?
13. How technological advancements can be managed?
Strategic technology management is expected to provide
means or ways to manage complexity, ambiguity and
dynamic nature of businesses, caused by the technology. In
this article, the term 'strategic' in relation to technology
management emphasises the linkage of strategic management
with technology management.

14. How do you explain the term ‘internet economy’?

TRATEGIES FOR INTERNET ECONOMY. v Internet and E
commerce is the basic tool for the formulation of strategy,
implementation of strategy and control the strategy in the
modern business environment. v It is rapidly growing and
emerging e commerce environment that applicable all firms
15. Mention the role of technology in strategic management.
Technology plays an important role in facilitating strategic
performance management. ... Clarifying and translating the
vision and corporate strategy. Communicating and linking
the strategic objectives and measures. Planning and setting
targets and aligning strategic initiatives.