Business policy & Strategic Management

I'll start Strategic Management Topic for education purpose which are relates with Intermediate Professional Competence Course.

Start from Chapter-2 (Day 1)

Business  policy & Strategic Management

1.Strategy:-

 It is the game plan of the management.

 To achieve market position, attract & satisfy customers, organizational objectives, conduct of its operation, compete successfully.

 It means of achieving the goals of the org.

 Strategy is the blend of proactive action and reactive action.

 It is formulated at Corporate, Divisional and Functional Level.

2. Corporate Strategy:

 It is the growth design of the firm.

 It spell out from two thing DEPT & Growth.

 DEPT stands for Direction, Extent, Pace and Timing.

 It also spell out strategy for achieving growth,

 It is also known as Objective Strategy.

Characteristics of Corporate Strategy:-

 Top Management

 Long Term

 Action oriented

 Goal Oriented 

 Integrated

 Flexible & dynamic

 Purposeful

 Efficient

 Made to achieve the objectives of the organization

 Perceiving opportunities & threats

 Decision making

 Gives importance to combination, sequence, timing, direction