MB0052 - Strategic Management and Business Policy

1 Describe the role of five major participants in the Strategic Management Process (SMP) of a
company.
Description of the role of 5 participants (BoD, CEO, corporate planning staff, senior managers and
Consultants)
Strategists are the individuals involved in the strategic management process. They craft the strategy to
be implemented inthe organisation. Strategists think, plan, and implement relevant strategy in the
organisation to obtain a long term goal. Strategists are the silent partners in strategic literature. The
role of strategists in decision making varies according to
the different management levels in the organisation.
The strategic management process requires competent individuals to ensure its success. Therefore to
craft the strategic
management, strategists will analyse the position of strategic decisions made in the organisation.
Generally top management, board of directors and planning staff are the most significant individuals
involved in strategic
management process in organisations.

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2
Differentiate between mission and vision of a company? Explain with examples.
Meaning and explanation of mission statement of a company with examples
Meaning and explanation of vision of a company with examples

Strategy analysis is a key aspect of strategic management. It is used to effectively plan and implement
strategy and is the
first phase of the strategic management process. Each organisation has its own objectives, goals, vision
and mission. These
elements form the basis for competitive advantage for specific and measurable objective. The managers
monitor and scan
the environment including the competitor analysis. Many strategies fail if the managers formulate and
implement the

strategies without careful analysis of the goals of the organisation.

The importance of strategic analysis is as follows:
It gives an understanding of what drives risks, profitability and competitive advantage.
It provides a basis for forecasting future performance.
It gives an idea of how to measure the success of an organisations action.
The environment is a source of resource for an organisation. Resource dependence is affected by the
availability and
concentration of resources. The degree of dependence is high when the resource is scarce and when the
units in the
environment are highly concentrated or interconnected. The increasing dependency on resources can
be handled by
changing patterns of interdependence through mergers and diversification. Dependency can be
managed by using legal,
political or social action to form an artificial environment.
An active organisation interacts with the environment for resources. Such organisations allot substantial
3
Explain in detail Porters four generic strategies.
Explanation of Porters generic strategies
(Cost leadership, Focuses cost leadership, differentiation, focused differentiation)

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4
Differentiate between core competence and distinctive competence.
Explanation of core competence with examples
Explanation of distinctive competence with examples
Core competence is a management tool that enables an organisation to deliver a unique value to its
customers. Building up

5
Define the term industry. List the types of industries. How do you conduct an industry analysis?
Definition of industry
Mentioning the types of industries
Explanation on conducting industry analysis (including steps to be followed)
Industry refers to a group of companies producing a similar product or service. Industry analysis refers
to an in-depth examination of key aspects within an organisation task environment. Both societal and

task environments must be Nmonitored to detect strategic factors that have an impact on the success or
failure of organisations.
Competitive analysis Competitor analysis is an important step in strategic planning. The organisation

6 What is meant by structure of an organisation? Describe the five

major structural types or forms of an organisation.
Meaning of structure of an organisation
Description of the 5 structural types

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