Program - MBA
Subject code & name MB0052 - Strategic Management and Business
Policy
1. (a) Define “Strategic
Management” and “Strategic Planning”.
(b) Discuss the benefits of Strategic Management.
(a) Definition of “Strategic Management” and “Strategic Planning”.
Like strategy , strategic management also has been
defined differently by different authors and strategy analysts. We give below
three definitions of strategic management, which together give completeness to
the concept of strategic management.
‘Strategic management is
that set of decisions and actions which leads to the development of an
effective strategy or strategies to help achieve corporate objectives.
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(b) Benefits of Strategic Management.
An
organization can derive many benefits from strategic management. Strategic
management allows an organization to be more proactive than reactive in shaping
its own future. It allows an organization to initiate and influence rather than just respond to activities
or situations; and, this enables theorganization to exercise control over its
present activities and give directions to growth and development. Small
business owners, CEOs and managers of many profit and non-
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2. Discuss the difference between
defensive strategies and preemptive strategies. Give examples to support your
answer.
Defensive Strategies
The classic form of
retaining existing (civil) territory is to mount a position defence by constructing strong
ramparts to keep out the enemy . In business, position defence is typically
built by developing high levels of customer loyalty . But, the problem with
many organizations is that the defender often becomes complacent and, does not
realize that the enemy is making slow, but steady, inroads into the customer
base.
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3. (a) Why
‘Turnaround strategy’ is
sometimes called as an
extension of restructuring strategy?
(b) Differentiate between
surgical and non-surgical
turnaround. Give examples.
(a) Reason for calling turnaround strategy as extension of restructuring
strategy
Turnaround strategies
are usually required
for crisis situations.
If organizational decline is not continuous or severe, corporate
restructuring can provide the solutions. That is why turnaround strategy may be
said to be an extension of restructuring strategy. When restructuring is very
comprehensive and leads to corporate recovery, it almost becomes a turnaround
strategy as mentioned above in the case of Voltas.
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(b) Difference between Surgical and Non-surgical turnaround with examples
Generally,
there are two methods of corporate turnaround: surgical and nonsurgical. The
surgical method, more commonly practiced in the West, involves sweeping changes
like firing of staff, managers, wholesale reshuffling of portfolios, closing
down operations, etc. Some call it bloodbathor bloodshed. Non-surgical turnaround
adopts the opposite approach, that is, peaceful means—revamping or recovery
through meetings, discussions, persuasions,consensus,
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4. Write short notes on the
following expansion strategies:
(a) Penetration strategy for growth in existing markets
(b) Expansion through Diversification
(a) Penetration strategy for growth in existing markets
A company
has a number of ways for penetrating into the existing markets and generating
growth. The most obvious way to grow is to increase market share. Companies
like Bajaj Auto have successfully penetrated the existing market and sustained
their market share. But, this generally happens in a high growth market or
industry (like two-wheelers). Also, one company’s share gain is another company’s
share loss. Therefore, market share battle increases
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(b) Expansion through Diversification
Diversification,
as a strategy, may generate growth in a number of ways. Product development and
market development are two different methods to diversify, and, we had
discussed these two methods earlier. Diversification can also take place
through both new products and new markets. And,
a diversification strategy, whether through product development, market
development or both or any other way, may, mean a new business venture of the
company,
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5. Discuss the competitive strategy in:
(a) Emerging industry
(b) Declining industry
Explanation of competitive strategy
in:
(a) Emerging industry
An emerging
industryis a developing or newly formed industry in which market for products
initially exists in latent form, and, becomes visible later. An emerging industry may be
created by technological innovations,
new consumers or industrial needs
for economic or
sociological chang es which
create the environment or
potential market for a new product or
service. Emerging industries are being created all the time; or, to put
it in other words, most of
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(b) Declining industry
A declining
industryis one with negative growth, that is, an industry whichhas registered
absolute decline in sales over a sustained period of time. Such decline in
sales is not because of business cycles or any other short-term factors like strike,
lockouts or material shortages. Therefore, a declining industry does not represent
a short-term discontinuity, but, a trend expressed in falling industry output,
sales, profitability and dwindling number of competitors. In
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6. “Benchmarking is
the process by
which companies look
at the ‘best’ in the industry and
try to imitate their styles and processes” Evaluate the rationale for
benchmarking exercises and discuss the features and types of benchmarking.
Please ensure to include an example to support your answer.
Reasons of benchmarking
An
organization’s strategic capability or
strategic choice is to
be always understood in relative
terms because it involves comparison with competitors or industry norms. This
implies that organizations need to
understand and analyse performance standards, i.e., what constitutes good and
bad performance. Since performance is intrinsically related to strategy
formulation and implementation, the ‘relativity’ factor should be kept in mind
during the process of selection of the strategy itself. A strategy, along with
resource base,should be so
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PROGRAM – MBA
SUBJECT CODE & NAME - MB0053 –International
Business Management
1. “The world economy is globalizing at an accelerating pace”. Discuss
this statement and list the benefits of globalization.
The world
economy is globalising
at an accelerating
pace as countries previously closed
to foreign companies
have opened up
their markets. Geographic
distance is shrinking because of the Internet, as the ambitious companies aim
for global leadership. All this is possible because of booming international
business.
International
business is mainly concerned with the issues that are related to
international companies and
governments’ cross border
transactions. International business involves
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2. Compare the Adam Smith and
David Ricardo’s theories of international trade with examples.
Adam Smith’s theory
In one of
the most notable book ’ Wealth of Nations‘
in 1776, Adam Smith attacked the
mercantilism and argued that countries
differ in their ability to produce
goods and services
efficiently due to
variety of reasons.
At that time, England, by virtue
of their superior manufacturing processes, were the world’s most
efficient textile manufacturers
of the world.
This was due to
combination of several factors such as favourable climate, good soils,
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3. Regional integration is helping
the countries in growing their trade. Discuss this statement. Describe in brief
the various types of regional integrations.
Regional integration
Regional integration results
in the creation and diversion of trade. It supports overall growth of the
region, coupled with efficient trading practices. Trade creation increases
production and income and also leads to new entrants in the
market and, therefore,
results in tougher
competition. The transfer
of technology is also faster.
Regional
integration induces reduction on tariffs
and prohibitions. It spreads goodwill among
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4. Write short note on:
a) GATS (General Agreement on trade in services)
General Agreement
on Trade in
Services (GATS) –
GATS is a framework
agreement defining the rules
under which trade in
services must occur. GATS aims at
extending the rules covering trade in goods to
trade in services.
A detailed rule
has been included
to take into account
the differences between
goods and services and
the way in which
trade in services
is conducted. Trade
in services cover
a wide range of
activities in the
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4. b) ILO (International Labour organization)
International Labour
Organisation (ILO) is a specialised
agency of the United Nations which deals with labour
issues. The headquarters is situated in Geneva, Switzerland. The secretariat
comprises of the people employed by
the organisation throughout
the world. The secretariat
is known as the International Labour
Office. The ILO
manages work through
three main bodies. They are:
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5. What is the difference between
domestic and international accounting and how will you measure this difference?
Domestic vs. international accounting
Different countries
whether domestic or
international, have different accounting standards. A common
belief is that these differences reduce the quality and
importance of accounting
information. Accounting standards determine the
financial reporting quality
and provides separately
verified information about an
organisation's financial performance
to investors’ creditors.
Though
there are differences in accounting methods, domestic businesses are not
affected. The accounting
system of a
domestic organisation must meet the specialised and regulatory
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6. Discuss the various payment
terms in international trade. Which is the safest method and why?
The modes of payment
Cash-in-advance
Cash-in-advance helps
in removing the risks
of credit by the
exporter. By this method, exporter
receives the payment
before the transfer
of goods. The options that are
available with the cash-in-advance method include wire transfers and credit
cards. This is the least attractive method for many of the buyers as it creates
cash flow problems. The buyers are concerned about the quality/quantity and
delivery of the
goods that are
not sent if the
payment is made in advance.
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