Business policy & STRATEGIC MANAGEMENT, Essays (university) of Strategic Management

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M.Com.

PART - I

STRATEGIC MANAGEMENT - I

(Revised Syllabus w.e.f Academic Year 2014-15)

• UNIVERSITY OF MUMBAI

Director

Institute of Distance and Open Learning ,

University of Mumbai,

Vidyanagari, Mumbai - 400 098.

DTP Composed

: Ashwini Arts

Gurukripa Chawl, M.C. Chagla Marg,

Bamanwada,Vile Parle (E), Mumbai - 400 099.

Printed by

: Gogri Offset Printers

Andheri (E) Mumbai - 400 093

CONTENTS

Unit No. Title Page No.

1. Introduction to Strategic Management 01
2. Formulation of Strategy and Strategic Management

28

3. Global Strategic : Practices and Issues 40
   1. New Emerging Strategies in Information Communication

Technology (ICT) 77

23. Disaster Management : The Development Perspective,

Concerns and Strategies 92

23. Strategic Alliances, Corporate Strategy and Corporate

Governance 103

7. Emerging Trends in Global Business Environment 125

I

M.Com Part - I

Strategic Management - I

23. w.e.f the Academic Year 2014-15 in IDOL)

Course Objectives

23. To introduce the subject of Strategic Management to the students and make them understand its process, and levels. To help students identify and link Strategy formulation and implementation with environmental analysis.
24. To provide information pertaining to business, corporate and global reforms taking place globally and familiarizing the students to new formats of the market.
25. To acquaint the students with knowledge of disaster management to handle critical situations through practical application of strategies of control and prevention.
26. To outline and illustrate how the market for corporate strategy and control is related to corporate governance and help students relate their knowledge of India context to emerging trends of the global world.
27. To develop learning and analytical skill of the students to solve business cases and provide Strategic Solutions.

SECTION I

MODULE – I

Introduction to Strategic Management

23. Define Strategy, Strategic Management Process.
24. Levels of Strategies - Corporate, Business and Operational level, Types of Strategies - Functional Strategies, H. R. Strategy, Marketing Strategy, Financial Strategy, Operational Strategy.
25. Benefits and Risks of Strategic Management.
26. Formulation of Strategy and Strategic Implementation.
27. Business Environment, Components of Environment, Environmental Scanning, Analysis of Strategies and Choice of Strategy.

II

MODULE – II

Business, Corporate and Global Strategies : Practices and Issues

23. Introduction to corporate Restructuring, Need for corporate restructuring and forms of corporate restructuring.
24. Evaluation of Strategic Alternatives, Types of Strategic Alternatives like Portfolio Analysis and its techniques, SWOT Analysis, Profit Impact of Market Strategy (PIMS).
25. (^) Strategic Change, Corporate Renewal, Internal and External Causes of Organizational failures.
26. Culture of Organization, Management of Strategies and Cultures.
27. Strategies for Foreign Direct Investment and International Trade in India.

MODULE – III

New Emerging Strategies in Information Communication Technology (ICT) (15 Lectures)

23. Concept of Outsourcing, Strategic Reasons of growing Outsourcing in India.
24. (^) Meaning of Management Information System (MIS), Strategic MIS, Characteristics of Strategic MIS System and Barriers to Successful Development of Strategic MIS System.
25. Business firms using Information Technology for creating Strategic Advantages - Reengineering Business Process, Virtual Company Strategies, knowledge creating company.
26. Emerging Strategies in Telecommunication Sector.

SECTION- II

MODULE – IV

Disaster Management: The Development Perspective, Concerns and Strategies

23. Disaster Management Strategies in Global Context.
24. Strategic ways of managing disasters at the National, State, District levels in India.

25. Challenges of Disaster Management of Governance in India.
26. Economic Losses due to disasters - Issues and Strategies.

students are exposed to creative analysis, critical thinking, accurate observations and developing learning skills.

IV

References

1. Strategic Management, A Dynamic Perspective - Concepts and Cases - Mason A. Carpenter, Wm. Gerard Sanders, Prashant Salwan, Published by Dorling Kindersley (India) Pvt Ltd, Licensees of Pearson Education in South Asia.
2. Strategic Management and Competitive Advantage - Concepts - Jay B. Barney, William S. Hesterly, Published by PHI Learning Private Limited, New Delhi.
3. (^) Globalization, Liberalization and Strategic Management - V. P. Michael.
4. Business Policy and Strategic Management - Sukul Lomash and P. K. Mishra, Vikas Publishing House Pvt. Ltd., New Delhi.
5. Strategic Management - Fred R. David, Published by Prentice Hall International.
6. Business Policy and Strategic Management - Dr. Azhar Kazmi, Published by Tata McGraw Hill Publications.
7. Strategic Management - Bern Banerjee.
8. Business Policy and Strategic Management - Jauch Lawrence R & William Glueck Published by Tata McGraw Hill.
9. Strategic Management - Thomas L. Wheelers & J David Hunger Addison, Wesley publishers.
10. Strategic Management - A Multi Perspective Approach, Edited by Mark Jenkins & Veroruque Ambrosini Palgrave.
11. Strategic Management : Competitiveness & Globalisation - Michael Hilt and R. Duane Ireland, Robert E. Hoskisson South, Published by Western Thomson Learning.
12. Strategic Management - John A. Pearce II & Richard B. Robinson Jr. A.I.T.B.S., Delhi.
13. Business Policy and Strategy - Concepts & Readings - Daniel McCarthy, Robert Minichiello, Joseph Curran, Published by All India Traveller Bookseller.
14. (^) Public Enterprise Management and Privatisation - Laxmi Narain Published by S. Chand & Company Ltd, New Delhi.
15. Business Organisation - Rajendra P. Maheshwari, J. P. Mahajan, Published by International Book House Pvt Ltd.

V

1. At Risks Natural Hazards, People’s Vulnerability and Disasters - Wisner Ben P. Blaikie, T Cannon and I. Davis, Published by Wiltshire Routledge.
2. Mergers, Acquisitions and Corporate Restructuring - Strategies and Practices - Rabi Narayan Kar, Published by International Book House Pvt. Ltd. Mumbai.
3. (^) Working Class Movement in India in the Wake of Globalisation Edited by Jose George, Manoj Kumar, Dharmendra Ojha, Published by Manohar Publishers & Distributors, New Delhi.
4. Labour Market and Institution in India - Shuji Uchikawa, Published by Manohar Publishers & Distributors, New Delhi.
5. Globalisation, Labour Market & Inequality - Muzumdar and Sarkar.
6. Industrial Relations - Arun Monappa, Published by Tata McGraw Hill Publishing Co. New Delhi.
7. Industrial Relations in India Edited by E A Ramaswamy, Published by Macmillian Co of India Ltd, Mumbai.
8. Trade in Early India - Edited by Ranabir Chakravarti, Oxford in India Readings.
9. Corporate Social Responsibility in India : A study of Management Attitudes, C. Gopala Krishna, Mittal Publications, New Delhi.
10. Corporate Excellence through Corporate Governance, Contemporary Practices and Prognosis, Backgrounds Papers, Presentations and Proceedings - Edited by Dr. P. Asthana, Published By ICSI - Centre for Corporate Research and Training, Navi Mumbai.
11. Corporate Excellence - Manu Agarwal, Kalpaz Publications, Delhi.
12. The Mechanisms of Governance - Oliver E. Williamson, Oxford University Press, New York.
13. Emerging Multinationals : The rise of New Multinational Companies from emerging economies - Pricewaterhouse Coopers.
14. International Business, Charles Hill.
15. Foreign Direct Investment in India - Policies, conditions and process by Niti Bhasin, New Century Publication, 2012.

15. Foreign Direct Investment - Global Financial Crisis by A. Rais Ahmed, New Century Publication, 2013.
16. Crisis Management Challenges And Responses By Prof Mukesh Bhatia, regal Publication, New Delhi.

1

INTRODUCTION TO STRATEGIC

MANAGEMENT

Unit Structure:

1.0. Objective

1.1 Introduction

1.2 Meaning and definition of strategy.

1.3 Nature of business strategy

1.4 Strategic management process.

1.5 Benefits of strategic management.

1.6 Summery

1.7 Questions

1.0. OBJECTIVES

After studying this unit the student will be able to -

1. Understand the concept of strategy and strategic management.
2. Know the process of strategic management
3. Know the levels of strategic management
4. Understand the various types of strategies
5. Explain its advantages and limitations
6. Know the roles, strategists play in strategic management.

1.1. INTRODUCTION

Globalization of economy has brought about revolutionary changes in the policy framework of both developed and underdeveloped countries. The liberalization has removed artificial trade barriers and businesses have, now truly become international and the competition has become very severe. These developments gave rise to new paradigms in business policies and strategic thinking. Due to this there are drastic changes in conventional concept of business. The survival and success of the firm ,is influenced significantly by superior strategies like business have started focusing on customers and their satisfactions rather than focusing on products and sales early 1960’s corporate planning

deploying resources systematically and attain organizational goal or

3

the pattern of common thread related to the organization’s activities which are derived from the policies and objectives and goals. It is related to pursuing those activities which move an organization from its current position to desired future state. It also relates to resources necessary for implementing a plan or following a course of action.

Strategy literal meaning is “In anticipation of opponents move, designing one’s own way of action”. As it has different interpretations and really difficult to fathom what strategy means. So we can conclude that it is the means to achieve organizational goal.

Following are some of the definitions with which we will be able to understand the meaning of strategy.

Definitions:-

“Strategy is the determination of the basic long term goals and objectives of an enterprise and the adoption of the course of action and the allocation of resources necessary for carrying out these goals.”

Alfrred D. Chandler.

“A strategy is a unified, comprehensive, and integrated plan that relates the strategic advantages of the firm to the challenges of the environment. It is designed to ensure that the basic objectives of the enterprise are achieved through proper execution by the organization.”

Lawrence R. Jauch & William F. Glueck.

1.3 NATURE AND CHARACTERISTICS OF BUSINESS STRATEGY

Following are the features of strategic management.

• Objective.
• Future oriented.
• Availability and allocation of resources.
• Influences of Environment.
• Universal applicability.
• Levels of strategy.