st mgmt first lecture
TRANSCRIPT
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Strategic management
Strategy
strategizing
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Strategic mgmt --
Definition
-- The systematic analysis of factors
associated with customers and
competitors( external Environment) and the organization
itself(internal environment) to providethe basis for optimum management
practices.
Eg- abbot buying Nicolas piramal for
a huge sum.
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St mgmt-- objectives
To achieve better alignment ofcorporate policies and strategic
priorities.
Egin nineties many american
multinationals
decided to focus only on corestrengths
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St mgmt---
Fundamental questions
Goals
Strategy
Evaluation
Eg-- Individual planning tour for a
holiday--
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St mgmt-----
Characteristics
What is important for the long range
success of ur business ?
Eg unique products ? Turnover? Newproducts? Efficient distribution? good
margins?
Human talent? Basic research?
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St mgmt--
How should I position my business tomeet management and business
goals?
Eg--Positioning with regard to
premium quality products ?
positioning on the theme of
introducing products for the first time
in the country or in the world eg--
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St mgmt--
Involves big picture of ur business
Egorganic growth or inorganic
growth?
or
a mix of both?
or
growth through diversification?
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St mgmt--
Involves
Planning, analyzing and implementing
a business strategy.
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St mgmt--
Involves
Seeing &identifying opportunities and
threats in the market and industry andthe outside world in general
Eg
ITC diversification
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St mgmt
Is based on premise that all the businessesare
not the same.
Eg
mechanism and mode of operationsdiffer to a large extent in pharma business
( API,ANIMAL PRODUCTS,BIOTECHPRODUCTS,
INSTITUTIONAL BUSINESS,HERBALBUSINESS,
EXPORTS)
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St mgmt--
Involves assessing the strengths andweaknesses of ur business
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St mgmt--
Involves looking into the future ratherthan dwelling on the past
Future----- more uncertain, morecomplex and complicated
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St mgmt--
Is proactive rather than being reactive
Eg- MacDonald decided not to sell
beef and pork products in indiabecause of religious volatility and
sentiments
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St mgmt--
Anticipates change and takingadvantage of it
Eg
reentry of COKE in india
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St mgmtsignificance
Well formulated strategy can bringvarious benefits to the organization in
present as well as future
Reduces frustration because it has
been planned in such a way that it
follows a procedure.
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St mgmt--
Brings growth because it seeksopportunities
ORG --- can work in a direction
Builds up the reputation of org.
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St mgmt--
Companies can foresee events in futureand that is why they can remain stable inthe market.Can identify threats so the companies
can work to get rid off them or neutralizethe threats in such a way they becomeopportunities for their success.egbanned products anti-inflammatory,
letrozole
Coke neutralizing the threat for pesticidecontent