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MB0052-Strategic Management and Business Policy

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Master of Business Administration - MBA Semester 4
MB0052-Strategic Management and Business Policy-4 Credits
(Book ID: B1699)
Assignment (60 Marks)
Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10
marks 6 X 10=60.
Q1. (a) Define “Strategic Management” and “Strategic Planning”.
(b) Discuss the benefits of Strategic Management.
Answer. a. “Strategic Management” and “Strategic Planning”:
Strategic Management Like strategy, strategic management also has been defined differently by different
authors and strategy analysts. Below three definitions of strategic management 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.
‘Strategic management is
Q2. Discuss the difference between defensive strategies and pre-emptive strategies. Give examples to
support your answer.
Answer. Difference between defensive strategies and pre-emptive strategies:
Defensive Strategies:
The classic form of retaining existing (civil) territory is to mount a position defense by constructing strong
ramparts to keep out the enemy. In business, position defense is 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.
One of the unfortunate examples of this situation is IBM. The company built a big global business in the
computer industry based on unmatched customer loyalty. But, IBM ignored the threats, may be
Q3. (a) Why ‘Turnaround strategy’ is sometimes called as an extension of restructuring strategy?
(b) Differentiate between surgical and non-surgical turnaround. Give examples.
Answer. a. Reason for calling turnaround strategy as extension of restructuring strategy
Corporate turnaround may be defined as organizational recovery from business decline orcrisis. Business
decline for a company means continuous fall in turnover or revenue, eroding profit, or accrual or
accumulation of losses. So, business or organizational decline, like business performance, is understood in
relative terms, that are, compared with the past. But, some strategy analysts describe business decline in
terms of current comparisons also; for example, relative to industry rates or averages or even relative to
economic growth of
Q4. Write short notes on the following expansion strategies:
(a) Penetration strategy for growth in existing markets
(b) Expansion through Diversification.
Answer. a. Growing the business by penetrating its market more thoroughly is typically the first step a
business takes to grow. Your experience with your business’s current markets increases the odds of
succeeding using this growth strategy. Wise entrepreneurs carefully assess what untapped sales remain.
Q5. Discuss the competitive strategy in:
(a) Emerging industry
(b) Declining industry.
Answer. Generic competitive strategies enable a firm to outperform competitors in the industry. These
strategies include overall cost leadership, differentiation, and focus. A firm following the cost leadership
strategy needs to achieve the lowest cost of production per unit level in the industry. On the other hand,
differentiation strategies are aimed at maintaining the exclusivity of the product so that the perceived
difference in the product serves as a competitive advantage to the firm. Using focus strategies, the firm
tries to capture a particular buyer group, segment of the product line, or geographic market. A firm should
adopt and pursue any of the three generic strategies in an industry, and take care to avoid the pitfalls
relating to the
Q6. “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
• Features of benchmarking
• Types of benchmarking
• One or two examples of benchmarking
Answer. Whether it’s for internal comparisons, or for measuring the effectiveness of your company
against close competitors, benchmarking is a vital continuous improvement tool. And although it’s safe to
say that the average executive understands the benefits of benchmarking performance, that doesn’t
necessarily, mean his or her company has ever participated in such an initiative.
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