Strategic Management

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National Institute of Business Management

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SECOND SEMESTER EMBA/MBA

Subject : Strategic Management

Attend any 4 questions.  Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

                                                 

1.Does Strategic Management work? Explain.

Answer : Strategic management is an area of business studies concerned with how managers should make strategic decisions, such as which markets to enter, how to finance the firm and how to structure the organization. To understand how strategic management works, managers should be familiar with its history, purpose, common tools and typical results.

Background

Strategic management has its roots in the work of Frederick Winslow Taylor, an American industrialist, who applied scientific methods to management in the early 20th century. Taylor did this by measuring and quantifying business processes, just as scientists measure their observations. For example, Taylor would calculate the time needed to complete specific jobs and he would make adjustments to improve efficiency. It was not until the later part of the century, however, that strategic management would come to be

2.Explain a practical approach to measuring performance improvement in Operating Systems.

3.Explain E-Business strategies for established firm.

Answer : The Strategies of  eBusiness

Don’t look back, somethin’ might be gaining on you. –Satchell Paige

 I'd be hard- pressed to say it's overhyped. We've set out to make Yahoo the only place anyone needs to go to get connected to anything. There's nothing in the real world to compare to that. -Timothy Koogle, Yahoo CEO 

The last decade of the 20th century

4.How is an operating plan implemented? Explain.

Answer : Implementing the Strategic Plan

We have established our overall strategies for the future. We need to make it official by having the Strategic Plan approved. Approval may involve the Board of Directors, Executive Management, and others who need to lend their support to get the Plan implemented. By having key decision-makers approve the Strategic Plan, it signals that it's OK to implement the Plan. Implementation is managed through the development of an Operating Plan.

An Operating Plan is a step by step plan for implementing the Strategic Plan. Operating Plans depend upon good strategic plans. If there are

5.How are right priorities and objectives set? Explain.

Answer : Some people drift more or less aimlessly from day to day and year to year, without focusing on a long-term direction. Other people (the minority) set detailed goals and conform strictly to daily colour-coded to-do lists.

Most people are in the middle, with hopes and dreams for the future, and either definite goals or a more vague plan. Usually people think hard about big decisions, but smaller ones tend to be driven more by moods and intuition. If you feel you would benefit from a more organized approach, aim to take the time each day to determine what you want to achieve and set specific goals. Below are a few tips to increase your chance of success:

6.Write an essay on ‘Why Strategies fail’?

Answer :

25 x 4=100 marks