COMPETITIVE ADVANTAGE
1. What
is strategic Business unit?
Strategic
business units are divisions or group of divisions composed of independent
product-market segments that are given primary responsibility and authority for
the management of their own function areas. An SBU may be of any size or level
but it must have a unique mission, identifiable comfitures, an external market
fours and control of its business functions. The idea is to decentralize on the
basis of strategy elements.
2. Define
Tactics.
A tactic
is a specific operating plan defiling how a strategy is to be Implemented in
firms of when and where it is to he put in to action. By nature tactics are
narrower. In their scope and shorter in their time horizon than strategies. It
is a link between the formulation and implementation of state.
3. What
do you mean by hypercompetitive?
Hyper
competition is a business situation in which the frequency, boldness, and
aggressiveness of dynamic movement by the players accelerate to create a
condition of constant disequilibrium and change market sterility is threatened
by short product life cycle new ethnologic frequent entry by unexpected
outsiders and repositioning by incumbents in other words environment escalates
towards higher and bigger revels of uncertainty dynamism heterogeneity of the
players and hosts lily.
4. What
is task Environment?
Task
environment includes those elements that directly affect the corporation and in
turn are affected by it. A corporation‘s task environment can be thought of the
industry with in which it operates. This task environment includes government
local communities suppliers competitors employees labour unions special
interest groups and trade associations.
5. What
is industry Analysis?
Industry
analysis refers to the in depth examination of key factors with in a
corporation task environment. Both the societal and task environment must he
monitored so that strategic factors that have a strong impact on the corporate
success or failure can be defected.
6. Define
strategic Alliance?
Strategic
Alliance are co-operative agreements between different companies that are
actual or potential competitors companies enter in to strategic alliance may be
a way of facilitating entry in to a market. Second many companies enter in to
strategic alliances to share the fixed costs and associated risk that arise
from the development of new products or processes many alliances can be seen as
a way of bringing together complementary skills and assets that cannot be
easily developed by the company on its own
7. What
is environment scanning?
Environment
scanning is the monitoring evaluating and disseminating of information from the
external and internal environments to key people within the corporation. The
external environment consists of variables that one outside the organization
these are the opportunities and threats. The infernal environment consists of
variables that are within the organization itself. These are the strengths and
weaknesses of organization. 8. Write the name of factors in task environment?
o Shareholders
o Suppliers
o Government
o Special interest group
o Employees/ Labour unions
o Competitors
o Creditors
o Trade associations
o Communities
9. What
is societal Environment?
Societal
environment includes the general forces that do not directly touch on the short
run activities of the organization but that can influence its long-run
decisions. This includes economic forces, technological forces, political legal
forces and socio cultural forces Economic forces regulate the exchange of
materials. Money, energy and information Technological forces generate problem
solving Inventions political legal forces allocate power and provide
constraining and protecting laws and regulations. Socio cultural forces
regulate the values mores and wisdoms of society.
10. What
do you mean by strategy implementation?
Strategy
implementation is the process by which strategies and policies one put in to
action through he developed of programs budgets and procedures. This process
might involve changes within the overall with the structure or management
system of the entire organization or with in all of these areas.
11. What
is an Entrepreneurial venture?
Entrepreneurial
venture is any business whose primary goals profitability and growth and that
can be characterized by innovative strategic practices. The basic different
between the small business from and the entrepreneurial venture not in the type
of goods or services provided but in their fundamental views on growth and
innovation. The key element of Entrepreneurial venture is a basic business idea
that has not yet been successfully tried and a gutsy entrepreneur who while
working on borrowed capital and a shoestring budget creates a new business
through a lot of trick and error and persistent hard work.
12. What
do you mean by small business from?
Small
business from is one that employs fewer than 500 people and that generate sales
of 20 million actually small business from is independently owned and operated
not dominate in its field and does not concentrate in innovative practices.
13. Who
is an Entrepreneur?
Entrepreneur
is defined a person who organizes and manages a business undertaking and who
assumes risk for the sake if profit. He is the ultimate strategist and makes
all the strategic as well as the operational decisions. Al the three levels of
strategy-corporate, business and functional are the concerns of this founder
and manager of a company.
14. What
is Strategic piggybacking?
Strategic
piggybacking refers to the development of a new activity for the not-for-profit
organization that would generate funds needed to make up the difference between
revenues and expenses. Its purpose is to help subsidize the primary service
programs. It appears to be a form of concentric diversification but it is
engaged in only for its money generating value
15. What
is balanced score card?
The
balance score card is a self of measures are directly half are directly linked
the company‘s strategy allows managers to evaluate the company from four
perspectives financial performance anisomery knowledge internal business
processes learning growth.
16.
Define Reengineering?
Reengineering
is the fundamental re-thinking and radical redesign of business processes to
achieve dramatic improvements in critical, contemporary measures of performance
such as quality, cost service and sped. The aim of reengineering is to improve
the corporate performance.
17. What
is re-Structuring?
Restructuring
means streamlining the hierarchy of authority and reducing the number of levels
in their hierarchy to a minimum and then downsizing the workforce by reducing
the number of employees to reduce operating cost. The aim of restructuring is
to improve the corporate performance.
18. What
is corporate Culture?
Corporate
culture is the corporation of belief. Expectations and values learned and
shared by a corporate is members and transmitted from one generation of
employees to another. The tern corporate culture generally reflects the values
of the founder and the mission of the form at givens a company a sense of
identity. Corporate culture has two distinct attributes, intensity and
integration.
19. What
is strategic Leadership?
Strategic
leadership refers to a manager‘s ability to articulates a strategic vision for
the company and motivate others to me into that vision.
The few
characteristics of good strategic leaders are
•
Vision, eloquence and consistency
•
Commitment
•
Being cell informed
•
Willingness to delegate and empower
•
Astute use of power and
•
Emotional intelligence
20. What
is Entrepreneurship?
When
internal new venturing place in an organizational the corporate managers must
that the internal new vesturing process as a form of Entrepreneurship and the
people who are leading the new ventures as entrepreneurs. That organizational
structure control and culture must be designed to encourage creativity and give
new-venture managers autonomy and freedom to develop and champion new products.
This is called entrepreneurship.
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