13 August 2010 14:00 Phases in Strategic Management Steps to be taken in Strategic Management 1. Strategic Indent 2. Strategy Formulation 3. Strategy Implementation 4. Strategic Evaluation SMED : Single Minute Exchange the Dye JIT : Just in Tine 20th August 2010 Strategy Formulation Strategic Indent Strech = (Obstacles) → → → → Re-Engineering Cost Control & Cost Reduction Leverage Efficiency & Effectiveness Leverage Leverage refer to concentrating accumulating complementing conserving and
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  Phases in Strategic ManagementStrategic Indent1.Strategy Formulation2.Strategy Implementation3.Strategic Evaluation4.Steps to be taken in Strategic ManagementSMED : Single Minute Exchange the DyeJIT : Just in Tine 20th August 2010 Strategy FormulationStrategic IndentStrech =>(Obstacles)Re-Engineering → Cost Control & Cost Reduction → Leverage → Efficiency & Effectiveness → LeverageLeverage refer to concentrating accumulating complementing conserving and recovery resources in asuch a manner that the meager resource base is strech to meet the aspirations that an organizationdares to have. 13 August 201014:00  BPSM Page 1   FIT: the Idea of FIT means positioning the firm by matching its Organization resources to its Environment. Strategy Formulation Forming the VISION → Vision is a description of an organization a corporate culture, a business, a technology, an activity in the future.Forming the MISSION → Mission is essential purpose of the organization concerning particularly why it exists , the nature of businesscarried out by them and the customer which they want to serve and satisfy.Forming the GOAL → 'Goals' denote what an organization hopes to accomplish in a future period of time.Forming the OBJECTIVES → Objectives are the ends that states specifically how the goals shall be achieved.Strategic FormulationInternal & External  Political  Socio-Culture  Regulatory  Market  International  Environment Appraisal1.Events  – Outsourcing □ Logistics □ Competitor's Surveillance □ Trends  – Finance □ Manpower □ Issues  – Expectations  – Scanning of Environmental Situations2.Organizational Appraisal3. Strategy Formulation 20 August 201014:00  BPSM Page 2   Organizational Capabilities includes: Financial Capabilities (Constituents)Availability/ use General Management of finance  Marketing Capabilities  OperationsCapabilities (Constituents)High Level of CapacityUtilizationFavorableplantLocationHigh degree of VerticalIntegrationReliablesources of SupplyEffective controlof operation costGood inventorycontrol systemHigh caliber of R&D PersonnelTechnicalcollaboration with anreputed firm  PersonnelCapabilities (Constituents)Real Concern forHR Management& DevelopmentEfficient &EffectivePersonnelSystemOrganizationalwould beperceived as modelEmployeesExcellentTrainingopportunities &FacilitiesEfficientworkingenvironmentHighlysatisfiedintegratedworkforceHigh levels of organizationalloyaltyLow level of absenteeismSafe andsalutaryworkingconditions  InformationManagement Capabilities (Constituents)Ease &Convenienceassess to infosourcesWidespread use of computerized info.SystemAvailability &operatability Hi-TechEquipments.Positiveattitude tosharing andDisseminatingInfo.Wide coverageof networkingof computersystemsPresence of foolproof info.Security systemPresence of buyers &suppliersconversant to ITApplicationsTop Managementunderstanding of Support to IT & itsApplications withinOrganization. GeneralManagement Capabilities (Constituents)Effectivesystem forcorporateplanningControl, reward &incentives system fortop mgmt. geared tothe achievements of ObjectivesBusinessOrientation &high propensityof High risktakingGood rapportwith Govt. &bureaucracyFavoritecorporateimageCommonly beingperceived as agoodorganization toWork forDevelopmentorientedorganizationalCulturePolitical processesused for consensusbuilding inOrganizationalInterest.EffectiveManagementof Organizational Changes  2 September 2010 & 17 September 2010 17 September 2010 Capabilities: Organizational Capabilities is the inherent  capacity or potential of an organization to use its strengths andovercome its weaknesses in order to exploit the opportunities and face the threats in its externalenvironments. Competencies: Competencies are special qualities possessed by an organization that make them withstand the pressureof competition in the market place. 24 September 2010 Corporate level Strategies  BPSM Page 3   Strategies Expansion Strategies 1. Expansion strategies are adopted because it may become imperative when the environment demands increase n the pace of activity .a.Psychologically strategist may feel more satisfied with a prospect of growth from expansion , chief executives may take pride preceding over thoseorganization perceived to be growth oriented.b.Increase in size may lead to more control over the market and the competitors.c.Advantages from the experience curve and scale of operations may accrued.d.The survival strategies are adopted because:It is less risky, involves less changes and people feel comfortable with the things as they are..a.The environment phase is relatively stable.b.Expansion may be perceived as bane .c.Consolidation is sort through stabilizing after a period of rapid expansion.d.Stability Strategies 2. Retrenchment strategies 3. The Retrenchment are adopted because :The management is no longer wishes to remain in the business either partly or fully, due to continuous losses and the organization is becomingunviable.a.The environment phase is threating (bane).b.Stability c an be ensured by reallocation of sources from unprofitable to profitable businesses.c.Combination strategies 4. Combination strategies are adopted becauseThe organization is large and faces complex environment.a.The organization is composed of different businesses each of which lies in different industry requiring a different responses.b. Expansion Strategies Expansion through concentration ã Expansion through Integration ã Expansion through Diversification ã Expansion through Co-operation ã Expansion through Digitalization ã Expansion through Internalization ã Expansion thru Concentration Strategies:This is the first level of type for expansion strategies. It involvers resources in one or more of a firms business in terms of there respective customer needs, customer function or alternative technology either solitarily or jointly in such a manner that results in expansion.Expansion thru Integration Strategies:Integration means combination activities related to the present activities of the firmExpansion Diversification Strategies:Diversification involves a Substantial Change in business definition signally or Jointly in Terms of customer function customer groups or alternative technologyof One or more of a firms businessExpansion thru Co-operation  BPSM Page 4 


Oct 22, 2017
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