SEMESTER-2
ASSIGNMENT- STRATEGIC MANAGEMENT
1.) Business Level strategy deals with how a particular business competes. The main objective or we can say that the principal focus is on achieving the big goals set by the organization. Strategic management plays an important role in the industry by protecting market share and earning profit or achieving the desired goals set by the organization by performing different level of activities and offer the superior value to customer. The main strategy of strategic management is focus strategy , the main objective or we can say aim of this strategy to sell goods, commodities or services to world wide or to reach each and every customer in the world. The main motive or essence of the focus strategy is the exploitation of a narrow target differences from the balance of the firm or industry. Concentration or focus creates competitive advantage or opportunity through high specialization and concentration of resources in a given niche. If sector or segment has distinctive and lasting features, then an industry or firm can develop its own set of entry hurdles in much the same way that big developed , established industry do in broader market. What we see now a days that internet is playing a great role in identifying market segments marked with greater and greater specificity in terms of unique clients need. Firms can build concentrate in one or other ways. Focused cost leadership and focused differentiation. Through the cost leadership and the differentiated focus strategies firms serve the needs of a narrow competitive sector This strategy works when organizations have the core competencies required to offer value to a narrow competitive sector that exceeds the present value from industries serving their clients on a industry wide basis. A focused industry can serve the needs of a niche sector through which a low cost of
differentiation strategy as given in the problem if the market is very competitive then we should keep certain things in mind very clear that how well we will plan our strategy for the competitive market as discussed below-
a) By analyzing and identifying the gaps not covered by the existing market players. b) Look forward in developing new skill set, superior efficiency while serving such
on the basis of low cost or differentiation quite successfully in recent times.
Uniqueness in segment to be generated or created and exploited, unique in terms of some certain key factors or aspects such as age and lifestyle. Size is the segment big enough to offer profitable growth for a reasonable time of period. The key to niche manship is specialization superior, differentiated and offering of a service on a simple price or attractive price which they like to utilize.
The biggest advantage of focus strategy is that the industry is able to find market niche against a big competitor. Through specialization, analysis and concentration of its resources in a given segment , the industry is able to serve the requirement of a niche sector better than others and protect itself from the attention of bigger market players in the market. Always focus on to improve time to time other sources of value adding activities that contribute to cost or differentiation. The biggest surge or risk linked or joint with a focus strategy lies in that distinctive service and product so characteristics may fade away over time. To get some stability in the market to earn some profit and give some competition to other market holders. Before entering in the market and market is giving you some healthy competition and by opportunity you are launching a new product in the market then you should understand the market situation analyze and do research the market so that the firm could meet to its desired goals. See we face each every bit in our life full of competition and when we talk about market point of view we have to think in a business point of view because something is on stake like money , profit and business. And day by day people are becoming so smart and they are also flowing with the market requirements, if the market require to change the technology they do follow all the things so that they could maximize their output with full efficiency. Every organization know the value of strategic management and they also prefer the best strategies towards market. Strategies always focus on selling, advertising and dominating super giants in the existing market so that the new product can be delivered very easily to every
customer in the entire world this is the aim of strategic management. Every time you can’t put forth new ideas or tools to over come competitive market barrier ,
complexities also exist so keep it in my mind very clear use the powerful resource and sort out all the exploitation.
2.) A strategy is created or developed with in organisation. The final output or product will definitely be shaped by the background of that industry , the process or the method it has in place for arriving at basic business decisions and the intensity of its senior manager s or the management. Typically these industries come together in formal strategy method which strategy is defined and evaluated by the firm's management. The term strategic management method or process has been referred to the steps by which management converts a industries target, meet the desires , objectives into a working condition strategy. In a dynamic environment each industry need to implement it's strategic management process in ways that best match it's own abilities and corresponding needs. If we see it in a broad way the strategic management process has two parts first part is information and other part or second part is decision process part. The decision process covers four important steps which are like development of alternatives choice,
implementation and assessment. Basically these points are based on the internal and external analysis strategists first recognize and understand the strategic alternatives or other options and lift those that help the organization reach or achieve its mission and objectives. In the next step the planners decide how and when to implement the strategic choices into action. Strategic management basically aims at formulating and
management process starts with an evaluation of the organisations current vision ,
mission and industry objective. The main purpose of the strategy is to bring some light on the objective of the firm. There are always some challenges in the outer world or in the market because the impact of the external world or environment has some on
performance, the firm should develop or create skill sets to avail the opportunities and some threat existing in that external environment. If a company looks forward to avail or exploit all the environmental opportunities to its advantage , a company must have the resources and capabilities. A systematic way have channeling all the challenges and over come all the barriers coming along in the path way of company. We face and see
competition each and every phase of life as en example it starts from our daily life we struggle from bus stand to our office route then bit proceed further we also face completion in our office from our colleagues and in the same way industries also face competition and struggle daily in the market to achieve or to meet their desired goals to reach at the apex of success in market. We have also observed in the industry by adopting strategic management it also involve some steps to make it dynamic in nature so that the industry could meet all the aspects according to competitive situation in the market. All the industries and organization focus on their core competences so that they could do well in comparing their business path ways in the market. Utilizing all the resources and bringing them together we can say using synergy to put forward the business on driving seat so that with out any threat or any ups and downs the industry or firm can stay ahead from their competitors. Enhancing technology unit, using skilled manpower in
3.) The organisations strategy process is how the possible things are to be taken into action to accomplish the goals and guide the organisation toward it. The possibility of moving ahead and thinking beyond the level will declare the functionality of the company. The industry and daily changes in the market or environment are just inevitable. So it does not mean that to guide the firm or formulating the strategy in the company for others.
Strategic management includes understanding the strategic position of an organisation making strategic choices for the future and turning the plans , methods into real action is called strategy. If you are in a position of top level management then it is very necessary to understand all the terms very well that if you are going to implement any strategy in the company it needs the involvement of the top level management , it also needs resources in a very large quantity, affect the firms long term output or prosperity as a result, multifunctional and multi business consequences are also very important. If we discuss the above given problem then it is very difficult for any industry to move forward or travel in the haphazard manner. We have already observed that if we go with the flow of the current situation then we achieve some success that is other we always need a support of route map. This is role of strategic management to provide the support route map for further travelling in the market. We are very well aware about the position and responsibility it brings challenges and also need courage to make some decision at a very crucial time same happens in the above given problem that recently an auto mobile company has been charged for flouting environment norms so as a CEO you have to be broad in thinking wise and you have to choose the actions wisely so that you can successfully implement to over come the complexities in this situation. In this type of situations one thing that is key factor or we can say that the remedies for all the disease is strategic management. In this type situation I would advise from my own to unite the top level management and administration department to come together and try to find out the loop hole of the problem, this is the best way by analyzing the results , stats about the failure or misconception , they should be equal participant in the crucial situation. It will bring positivity and motivate the entire unit of the organization as a team to face the present challenge.
Going with flow of the situation is wise strategy and always have a back up plan so that if one fails with out wasting the plan you can further execute the other plan and
3.b) As given in the above problem some time an undesired condition creates by some efforts and they cause big problems for the industry as well as effect their business empire also. The word complexity arrives from the situation complex , and it is also considered in the latest business world it reflects a current scenario but it really surprises industries and brings lot of changes in the market. The top level management is always ready and they have firm determination after the complexities and they operate it globally because complexity is multiplied to its current above level. A core challenge of world wide companies complexity can not be create in a simple way and it is going to stay for while until the complexity problem is sort out. Managing the complex situation and complexity by top level management it becomes core competency for the industry. As in the very starting it becomes very difficult to understand the complexity which drives the complex situation for industry. In the research and analysis we have identified four major aspects that interact together to put forward and make the present environment. As we discussed that each and every aspect of the complexity is created by some loop holes, but they are totally different from their actions. We all know very well that its never so easy to comeback strong after some strike in core business competences. World wide
industries face complexities in different conditions and sets some challenges for
industries in the internal and external environment in the form of diversity. Companies must manage the effect of world wide interdependence to a unpredicted degree. Every aspect and factor put a serious impact on business of the industry. The global business of the industries has changed very fast but in some sort of the things they are carrying less information and less clarity too. It creates problem and some what complexity for the industries. A divers factors also render the financial set standards of the industry. The terms diversity, ambiguity and interdependence these are the three complexities industries face every time in their business. If you try to figure out the complexities diversity, ambiguity and interdependence for the industry , specific company these situation can be changed in the next day.
Strategic management is ultimately a tremendous thing which matches a situation between environmental advantages and industrial strengths. But before a industry or firm actually starts the switching to opportunity , it is very important to find where to stands in terms of its strengths and weakness. To exploit the opportunity that are in according to abilities. To analyze and find ways to change its weakness and always prepare to defend against the threats created by the complexities. To assess gaps and capabilities and take a step forward to enhance all the ability with a clear view of achieving the target and focus on the objectives of the firm. So this is how the changes are made by analyzing the depth of the changes created by the complexities in the organisations
