Introduction: The rationale behind studying competition
Today, companies face their toughest competition ever. Companies use their understanding to design
market offers to deliver more value than the offers of competitors seeking to win the same customer
The Value Chain
To better understand the activities through which a firm develops a competitive
advantage and creates shareholder value, it is useful to separate the business
system into a series of valuegenerating activities referred to as the value chai
Q4.WHAT ARE GENERIC STRATEGIES? DISCUSS EACH IN BRIEF.
Strategy is a method or plan chosen to bring about a desired future, such as achievement of a
goal or solution to a problem. It is the art and science of planning and marshalling resource
Q1.DISCUSS THE NATURE AND EVOLUTION OF BUSINESS POLICY
A. Definition of Business Policy
Business Policy defines the scope or spheres within which decisions can be taken by the
subordinates in an organization. It permits the lower level manageme
10 Characteristics of a Great Strategic Plan
Although the concept of strategic planning is not new, it is an activity that many organizations typically
struggle with. The strategic planning process often results in a significant investment of management
4.What is the external environmental analysis process? What does the firm want to learn
when using this problem?
A. An external environmental analysis studies information about a business's industry,
competition, and political and social environments. The
Q1.DISCUSS THE SIGNIFICANCE AND OBJECTIVES OF SOCIAL RESPONSIBILITY OF BUSINESS
A. SOCIAL RESPONSIBILITY:
Being Socially Responsible means that people and organizations must behave ethically and with
sensitivity toward social, cultural, economi
Q3. WRITE ABOUT PORTERS COMPETITIVE STRATEGY WITH SOME EXAMPLES.
A. REF: PAGE 71-73 & pdf docs
Q4.BRIEFLY EXPLAIN ABOUT THE TECHNIQUES OF ENVIRONMENTAL ANALYSIS
A. REF: PAGE 104 & pdf docs
Q5.EVALUATE THE PROCESS INVOLVED IN THE FORMULATION OF STRATEGY
Q7.DESCRIBE THE STRATEGY IMPLEMENTATION PROCESS?
REF : PAGE 173
A strategic plan is of little use to an organization without a means of putting it into place. In fact,
implementation is an essential part of the strategic planning process, and organization
BUSINESS POLICY & STRATEGIC MANAGEMENT
Q1. WHAT DO YOU UNDERSTAND BY STRATEGY? EXPLAIN THE FOUR GENERIC STRATEGIES AS
DISCUSSED BY GLUECK AND JAUCH.
Strategy is a method or plan chosen to bring about a desired future, such as achie