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MODULE 1
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1
INTRODUCTION & COURSE REVIEW
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2
CONCEPT OF STRATEGY
&
STRATEGIC MANAGEMENT
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PYRAMID OF BUSINESS POLICY
PROCEDURE AND STANDARD OPERATING PLAN
( Handlin in!"#in "$d%$' %$i!in !)*"#%$ !"#+lain*'
S,i++in *" -"$%in !")n*$i% .
FUNCTIONAL POLICIES
( Ma$/%*in' P$"d)!*i"n' R%%a$!,' Finan!%
Ma*%$ial & 0)ali* #ana%#%n* %*! .
MA3OR POLICY
Lin% "- 4)in%
( C"d% "- %*,i! .
SECONDRY POLICIES( S%l%!*i"n "- %"$a+,i!al a$%a'
#a5"$ !)*"#%$' #a5"$ +$"d)!* .
RULES
( D%li%$ "- +a !,%6)% 'l"i*%$in a$")nd +lan*' %!)$i*
S#"/in' )% "- !"#+an !a$ %*!.
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STRATEGY
7 GREE8 WORD STRATEGIA9 S!i%n!% "- )idin & Di$%!*in
7 COMPLE: PROCESSOF DETERMINING LONG TERM GOALS &
COURSE OF ACTIONS NEEDED TO BE CARRIED OUT' ALLOCATION OF
RESOURCES FOR CARRYING OUT THESE GOALS
MOVING FROM WHERE YOU ARE TO WHERE YOU WANT TO BE IN
NEAR FUTURE THROUGH A SERIES OF DECISIONS AND ACTIONS
7 PRE DETERMINED COURCE OF ACTION
7 HAS DEFINITE DIRECTION
7 SUSTAINABLE COMPETITIVE ADVANTAGE; D%li%$in )+%$i"$ al)% *"
*a$%* !)*"#%$ a* *,% a#% !"* "$ d%li%$in %6)al !)*"#%$
al)% a* l"
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STRATEGIC DECISION MA8ING7 SETTING REALISTIC GOALS; C,all%nin 4)* a!,i%a4l%
7 RATIONALITY; E=%$!iin 4%* !,"i!% a#"n al*%$na*i%
7 CREATIVITY; D%!ii"n !$%a*i% and "$iinal *,$"), 4$ain*"$#in
7 VARIABILITY ; E%$ i*)a*i"n i )ni6)%
7 DEMOGAFIC FACTORS; A% Ed)!a*i"n' In*%lli%n!%' Val)%
C"ni*i"n $i/ *a/in and !$%a*ii*
7 GROUP DECISION MA8ING; Pa$*i!i+a*i"n
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CONCERNS OF STATEGIC PLANNING
7 FUTURE
L"n *%$# dna#i! i i* !"n!%$n n"* da>*">da *a/7 GROWTH
Di$%!*i"n' %=*%n*' +a!% and *i#in "- $"#a$/%* !"+% and +"*)$%
7 STRATEGY
S*$a*% i i* !"n!%$n ? n"* *,% "+%$a*i"nal a!*ii*i%
7 INTEGRATION
In*%$a*i"n i i* !"n!%$n ? n"* a +a$*i!)la$ -)n!*i"n
7 CREATING CORE COMPETENCIES @ COMPETITIVE ADVANTAGE C$%a*in l"n *%$# ' )*aina4l% "$ania*i"nal !a+a4ili*
7 CORPORATE STRATEGY
In "n%
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STRATEGIC MANAGEMENT
ESTABLISHMENT OF
STRAT INTENTS
FORMULATION "-
STATEGIES
IMPLEMENTATION
OFSTRATEGIES
REVIEW'EVALUATION
CONTROL
VISION & MISSION *a*%#%n*' B)in% D%-ini*i"nAd"+*in B)in% M"d%l' S%**in G"al & O45%!*i%
C"nd)!*in SWOT' F"$#)la*in CORPORATE &
BUSINESS LEVEL S*$a*%i%' S*$a*%i! AnaliS*$a*%i! C,"i!%' S*$a*%i! Plan
A!*ia*in S*$a*%i%' D%inin S*$)!*)$%' S*%#&
P$"!%%' B%,ai"$al & F)n!*i"nal i#+l%#%n*a*i"n
And O+%$a*i"naliin *$a*%i%
P%$-"$#in S*$a*%i! Eal)a*i"n' E=%$!iin S*$a*%i!
C"n*$"l and R%-"$#)la*in S*$a*%i%
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STRATEGIC MANAGEMENTENVIRONMENT
SCANNING
STRATEGY
FORMATION
STRATEGYIMPLEMENTATION
EVALUATION
& CONTROL
E:TERNAL
SOCIETAL
TAS8
ENVIRONMETAL
INTERNALSTRENGTS
WEA8NESSES
7*$)!*)$%
7C)l*)$% ( B%li%-'
=+%!*a*i"n'Val)% .
7R%")$%' S/ill'
"#+%*%n!i%'8n"
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NATURE OF
INTERNATIONAL STRATEGIC MANAGEMENT
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SINGLE COUNTRY, EXPORT & INTERNATIONAL
STRATEGY
Y
THE CENTRE
SUBSIDIARY
SSUBSIDIARY
S1
SUBSIDIARY
S2SUBSIDIARY
S
FIRM A OPERATES
IN COUNTRY :
FIRM A
OPERATESIN COUNTRY :
E:PORT TO COUNTRY Y
SINGLE COUNTRY STRATEGY
INTERNATIONAL STRATEGY
E:PORT STRATEGY
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GLOBAL STRATEGY
THE CENTRESUBSIDIARY
S
SUBSIDIARY
S
SUBSIDIARY
S1SUBSIDIARY
S2
SUBSIDIARY
S
SUBSIDIARY
S
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LEVELS OF STRATEGY
&
EVOLUTIONOF
STRATEGIC MANAGEMENT
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HIERARCHY OF STRATEGY
CORPORATE STRATEGY
BUSINESS STRATEGY
FUNCTIONAL
STRATEGY
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STRATEGY AT DIFFERENT LEVELS
CORPORATE STRATEGY
PURPOSE OR MISSION
SHAREHOLDER VALUE
STA8EHOLDER INTEREST
ASPIRATIONAL
MEANS :
GOOD PARENTING SELECT PORTFOLIO
GUARD REPUTATION
COMPETITIVE STRATEGY
ATTAIN SUSTAINABLECOMPETITIVE ADVANTAGEBY:
LEVERAGING RESOURSES
DEVELOPING CAPABILITIES
AND
COMPETING ON COST'OR
DIFFERENTIATING OR
OCCUPYING A NICHE
OPERATIONAL
FUNCTIONALLEVELSTRATEGY
HR'FINANCE'PRODUCTN
MAR8ETING'0UALITY
E*!
F)n!*i"nal L%%l Mana%$
a$% $%+"ni4l% -"$;
d%%l"+in ann)al "45%!*i%
& ,"$* *%$# i#+l%#%n*a*i"nPlan
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HOW HAS STRATEGIC MANAGEMENT
EVOLVED
7 PHASE I; BASIC FINANCIAL PLANNING ;S%%/in 4%**%$ "+%$a*i"nal !"n*$"l 4*$in *" #%%* 4)d%*
PHASE II ; FORECAST BASED PLANNING ;S%%/in #"$% %--%!*i% +lannin -"$$"
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STRATEGIC MANAGEMENT PROCESS
STRATEGIC MANAGEMENT
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STRATEGIC MANAGEMENT
PROCESS
II II
ORG
CURRENTPERFORM
> ANCE
III V VI VII VIII
I:
REWOR8 AS
NEEDED
IV
MONITORING
INTERNAL
ANALYSISSTENGTHS
WEA8NESSES
REVIEW
BOARD OFDIRECTORS
&
TOP MGMT
IVE:T ENV
ANALYSIS
OPP THREATS
ORG
MISSION OB3ECTIVESSTRATEGIES
POLICIES
SELECTION
OFSTRATEGIC
FACTORS
REVIEW
REDEFINE MISSION
OB3ECTIVES
GENERATION
&EVALUATION
OF
STRATEGIC
ALTERNATIVES
IMPLEMENT BEST
ALTERNATIV
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MODULE 2
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TYPICAL VALUE CHAIN
OF A MANUFACTURED PRODUCT
RAW
MATERIAL
PRIMARY
MANUFFABRICATION
PRODUCT
PRODUCERDISTRIBUTOR RETAILER
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A CORPORATE VALUE CHAIN
TECHNOLOGY DEVELOPMENT (R&D'P$"!% & P$"d)!* D%%l"+#%n*
PROCUREMENT( P)$!,ain "- Ra< Ma*%$ial' Ma!,in%'S)++li%.
SUPPORT
ACTIVITIESPROFIT
MARGIN
INBOUND
LOGISTICS
(RAW MAT.
FIRM INFRASTRUCTURE
( G%nM#*'A!!")n*in'Finan!%' Pl.
HUMAN RESOURCE DEVELOPMENT( R%!$)i*#%n*' T$ainin' d%%l"+#%n* .
OPERATIONS
( Ma!,inin'
( A%#4l'
T%*in .
OUTBOUND
LOGISTICS
( Di*$i4)*i"n .
MAR8ETING
& SALES
( Ad* P$"#
> "*i"n .
SERVICES
( In*alla*i"n'
R%+ai$ .
PRIMARY ACTIVITIES
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VALUE CHAIN ANALYSIS7 Value Chain; Lin/%d %* "- al)% !$%a*in a!*ii*i%' 4%innin
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CORPORATE VALUE CHAIN7 F$a#%
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K
E:TERNAL ENVIRONMENT
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COMPANY AND ENVIRONMENT
MEN
MACHINEMATERIAL
METHODS
MONEY
INPUTS PROCESSES OUTPUTS
ENVIRONMENT
ENVIRONMENT
ACTIVITIES
OPERATIONS
PLANNINGMANUFACTURING
INSPECTION
PAC8ING
GOODS
SERVICESSALES
PROFITS
OB3ECTIVESGOALS
TARGETS FEEDBAC8CORRECTIVE
ACTION
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PEST FACTORS
POLITICAL TECHNOLOGICAL
ECONOMIC SOCIAL
PESTLE MATRI:
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PESTLE MATRI:POLITICAL
CURRENT@FUTURE LEGISLATION
SOCIAL
LIFESTYLE TRENDS DEMOGAPHICS
COMPANY ATTITUDES & OPINIONS
BRAND'COMPANY 'TECHNOLOGYIMAGE
CONSUMER BUYING PATTERNS
ETHNIC@RELIGIOUS FACTORS
TECHNOLOGICAL
TECHNOLOGY ACCESS'LICENSING'PATENTS MATURITY OF TECHNOLOGY
REPLACEMENT TECHNOLOGY @ SOLUTIONS
INNOVATION POTENTIAL
MANUFACTURING MATURITY & CAPACITY
LEGAL
INTERNATIONAL LAW EMPLOYMENT LAW
COMPETITIOM LAW
HEALTH & SAFETY LAW
REGIONAL LEGISLATION
ENVIRONMENTAL
ENVIRONMENTAL IMPACTENVIRONMENTAL LEGISLATION
ENERGY CONSUMPTION
WASTE DISPOSAL
ECONOMIC
REGULATORY BODIES
GOVT POLICIESGOVT TERM & CHANGE
ECONOMY SITUATION & TRENDS
TA:ATION
INTEREST & E:CHANGE RATES
MAR8ET & TRADE CYCLE
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CONSTITUENTS OF MICRO ENVIRONMENT
MICROENVIRONMENT
FINANCIALINSTITUTIONS
SUPPLIERS
MAR8ETING
INTERMEDIARIESCOMPETITION
REGULATORY
PROVISIONSIR CLIMATE
E> COMMERCE
S8ILLLEVEL
OF WOR8FORCE
MAR8ETS
TYPES &
DEMANDS
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ENVIRONMENTAL C%ANGES
/%IC% FORCE T%E FIRMS TO ADOPT STRATEGICPERSPECTIVE
7 CHANGES IN TECHNOLOGY
7 PROLIFERATION OF NEW PRODUCTS
7 FASTER COMMERCIALISATION OF NEW IDEAS
7 EMERGENCE OF GLOBAL FIRMS' MAR8ETS & BRANDS
7 CHANGING TASTES & PREFERENCES OF CUSTOMERS7 THE NEW AFFLUENCE OF CONSUMER
7 SOCIO>CULTURAL & POLITICO>LEGAL CHANGES
7 BUSINESS BOUNDRIES GETTING BLURRED
( DUE TO OVERARCHING TECNOLOGIES ; FASTER COMMUNICATION'INTERNET' E>GOVERNANCE & E>COMMERCE %*! .
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NE/ DEMANDS FIRMS %AD TO FACE( CONSE0UENT TO ENVIRONMENTAL CHANGES .
7 TO BE STRATEGICALLY ALERT
7 TO BE FUTURE > ORIENTED
7 TO BE ABLE TO TA8E RIS8S IN TAPPINGOPPORTUNITIES7 TO BE INSULATED ENOUGH AGAINST ENVIRONMENTAL
THREATS
7 TO DEVELOP COMPETENCE FOR ASSIMILATING CHANGESFASTER
7 TO RESPOND EFFECTIVELY AND MOREECONOMICALLY
( I* ,%l+ a"id ,a+,aa$d $%+"n% *" %ni$"n#%n*
P$"id% 4%* +"i4l% -i* 4%*
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J
INTERNAL ENVIRONMENT
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A SWOT CHEC8LISTINTERNAL STRENGT%S:
MANY PRODUCT LINES
BROAD MAR8ET COVERAGE
MANUFACTURING COMPETENCEGOOD MAR8ETING S8ILLSGOOD INVENTORY MANAGEMENTR&D
INFORMATION SYSTEMGOOD HUMAN RESOURCESBRAND E0UITY
COST ADVANTAGEAPPROPRIATE ORG STRUCTURE
APPROPRIATE CONTROL SYSTEMS
ABILITY TO MANAGE STRAT CHANGE
E*!
INTERNAL /EA0NESSES;
NARROW PRODUCT LINES
RISING MANUFACTURING COST
POOR MAR8ETING PLAN
POOR MATERIAL MANAGEMENT
INADE0UATE HUMAN RESOURCES
LOSS OF BRAND NAMELAC8 OFCORPORATE DIRECTION
LAC8 OF CORPORATE CONTROLPOOR FINANCIAL MANAGEMENT
INAPPROPRIATE ORG STRUCTURE
& CONTROL SYSTEMS
HIGH CONFLICTS' POLITICS E*!
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SWOT CHEC8LISTPOTENTIAL ENV1 OPPORTUNITIES
NEW MAR8ETA@BUSINESSES COST OF DIFFERENTIATION ADV
PROFITABLE NEW AC0UISITIONS
BRAND NAME CAPITAL IN NEW
AREAS R&D S8ILLS IN NEW AREAS
VERTICAL INTEGRATION>
( FORWARD@BAC8WARD.
DIVERSIFICATION
OTHERS
POTENTIAL ENV1 T%REATS
ATTAC8 ON COREBUSINESSES
INCREASE IN DOMESTIC@
FOREIGN COMPETITION
CHANGE IN CUSTOMERTASTE
BARRIERS TO ENTRY NEW OR SUBSTITUTE
PRODUCTS
INDUSTRY COMPETITION
SLOWDOWN IN ECONOMY
TA8EOVERS
LOWER MAR8ET GROWTH RATE
OTHERS
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MAC8ENIES S MODEL
STRATEGY
S8ILLS
STRUCTURE
SHARED
VISION
STAFF
SYSTEMS
STYLE
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MODULE
VISION'MISSION
&
BUSINESS DEFINITION
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12
STRATEGIC INTENTS
7 T" a!,i%% )!!%' "$ania*i"n ,a% *" +$i#a$il
-"!) "n ,i%$a$!, "- *$a*%i! in*%n* 9 Vii"n'
Mii"n' B)in% D%-ini*i"n' B)in% M"d%l' G"al
O45%!*i%
7 F$a#%
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CONCEPT OF STRETCH'LEVERAGE
& FIT
STRETC%; Mi-i* 4%*
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VISION
7 F)*)$% a"i(a'in"*,a* l%ad *" an in"i(a'in
7 Bai! & a* *,% *"+ "- ,i%$a$!, "- *$a*%i! in*%n*
7 A+i$a*i"n %=+$%%d a *$a*%i! in*%n* ,")ld l%ad *"
an %nd
7 T,i i
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GOOD VISION STATEMENTS
7 In+i$in & %=,ila$a*in
7 H%l+ in *,% !$%a*i"n "- a !"##"n id%n*i* and a ,a$%d
%n% "- +)$+"%
7 C"#+%*i*i%' "$iinal and )ni6)%
7 Ma/% %n% a *,%% a$% +$a!*i!al
7 F"*%$ $i/> *a/in and %=+%$i#%n*a*i"n
7 F"*%$ l"n *%$# *,in/in
7 T$)l %n)in%' $%+$%%n* in*%$i* and a$% #%an* *"4%n%-i* *a/%,"ld%$
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ENVISIONING PROCESS
A W%ll !"n!%i%d ii"n ,a 2 )a3( !)nen'"
41 C(e I-el.5; D%-in% %nd)$in !,a$a!*%$ "- an
"$ania*i"n *,a* $%#ain )n!,an%a4l% I* $%* "n
!"$% al)% & !"$% +)$+"%
21 En$i"ine- Fu'u(e; A l"n *%$#' *i#% 4")nd "al and
iid d%!$i+*i"n "-
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WHAT A VISION SHOULD AND SHOULDNT BE
7 A VISION SHOULD BE;
> An "$ania*i"n !,a$*%$ "- !"$% al)% & +$in!i+l%
> T,% )l*i#a*% ")$!% "- ")$ +$i"$i*i%' +lan and "al
> A +)ll%$ in*" *,% -)*)$%
> A $%-l%!*i"n "- In+i$% & #"*ia*% A VISION SHOULD NOT BE:
> A ,i, !"n!%+* *a*%#%n* "$ an ad%$*iin l"an
> A *$a*%@i%< -$"# *"+
> A ,i*"$ "- +$")d +a*
> A "-* 4)in% i)%
> Pai"nl%
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A FEW VISION STATEMENTS
VISION 2664 6F B%EL
A
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MISSION7 I* i +)$+"% @ $%a"n 4%,ind %=i*%n!% "- an "$ania*i"n7 D%$i%d -$"# VISION and $%-l%!* *,% !"$+"$a*i"n +,il""+, ' id%n*i*'
!,a$a!*%$ and i#a%
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FEW MISSION STATEMENTS
7 B%EL
T" 4% a l%adin %nin%%$in %n*%$+$i% +$"idin 6)ali**%# ""d and %$i!% in *,% -i%ld "- En%$'
T$an+"$*a*i"n ' Ind)*$' In-$a*$)!*)$% and "*,%$
+"*%n*ial a$%a
7 RANBAXYT" 4%!"#% $%%a$!, 4a%d In*%$na*i"nal +,a$#a
!"#+an
7 UTI
T" /%%+ *,% !"##"n #an in ,a$+%$ -"!) *" %n!")$a%ain and in%*#%n* ,a4i* a#"n *,%#
BUSINESS DEFINITION
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BUSINESS DEFINITION
7 D%-in%d al"n +a$a#%*%$
CUSTOMER GROUPS; WHOi 4%in a*i-i%d
CUSTOMER FUNCTIONS; WHAT i 4%in a*i-i%d
ALTERNATIVE TEC%NOLOGIES; HOW*,% n%%d i 4%in a*i-i%d
7 P$"id% +"
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E:AMPLES
EX:Ti)e 0eein. Bu"ine"":
C)*"#%$ G$")+; Indiid)al !)*"#%$ & Ind)*$ial C)*"#%$C)*"#%$ F)n!*i"n; Findin *i#%' R%!"$din *i#%' Uin *,%>a$* *%!n"l" aaila4l%
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GOALS & OB3ECTIVESGOALS:7 W,a* an "$ ,"+% *" a!,i%%@a!!"#+li, in a -)*)$% +%$i"d "- *i#% R%+$%%n* -)*)$% *a*% "$
")*!"#% "- an %--"$* +)* in n" S,"$* T%$# L"n T%$#( O$ *$anla*% i* +)$+"%
in*" l"n *%$# "al .
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OB3ECTIVE SETTING7 Un-e("'an-a8le7 Cn!(e'e& S+%!i-i! ( Sa 1 in!$%a% in al% .
7 Pe(i-i!i'5 ;R%la*%d *" *i#% -$a#% L"n T%$#' M%di)# & S,"$* *%$#7 Mea"u(a8le & C"n*$"lla4l%7 Challen.in.7 Di-- O45%!*i% #)* !((ela'e
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MODULE
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TOTAL GLOBAL STRATEGY
CORE BUSINESS STRATEGY1 DEVELOP CORE BUSINESS STRATEGY
2 INTERNATIONALISETHE STRATEGY
GLOBALISE THE
STRATEGY
C
O
U
NT
R
Y
A
C
O
U
NT
R
Y
B
C
O
U
NT
R
Y
C
C
O
U
NT
R
Y
D
C
O
U
NT
R
Y
E
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INTERNATIONAL STRATEGIES
PRESSURES
FOR
COST REDUCTION
PRESSURES FOR LOCAL RESPONSIVENESS
GLOBAL
STRATEGY
OFFERING STANDARDISED
PRODUCTS ; SERVICES