Management process

Topics: Management, Psychology, Plan Pages: 3 (683 words) Published: June 10, 2014
Management Process & Organisation Behaviour

Define the terms ‘strategy’. Explain the following:
a) Corporate strategy
b) Business strategy
c) Functional strategy

Strategy:
Once you have your vision, you have to see how that vision can be executed.Here is where the strategy comes in.It means the grand plan & the term is borrowed from military distinguished between the grand plan & actual action calling the former strategy & the latter tactics. Organisation strategies are divided in tw three:

1. Corporate
2. Business &
3. Functional
Corporate Strategy:
If you are a company like TATA or BIRLA, you will have several businesses under you and a corporate HQ which controls these. Each of these businesses may be run by an independednt co., much like TATA motora runs the behicles and TCS runs the IT.The Corporate HQ wil have grand plans on how much each business should operate. This grand plan is called Corporate Strategy.

Business Strategy
For Example, Raju can make a grand plan of expanding his business decisions to be the provider of low cost furniture or highly differentiated furniture,house hold furniture only,modular furniture only, a supplier of a ll furniture needs etc.,.This is what a business strategy is.

Functional Strategy.
If your in a retail chain business like Big Bazaar, you may have merchandise strategy supply strategy etc.,.Similarly Raju too can have a strategy to purchase wood in bulk from Malaysia and ship it and call it has procurement strategy.

Define the term ‘management’. Explain the Behavioural science theory and Systems theory.

According to F.W Taylor,” Management is an art of knowing what to do,when to do and see that it is done in the best and cheapest way.’ Behavioural Science Theory.
The thought was originated by vilfredo Pareto in 1896, and he researched organization & management relationship.Later, Hugo Munsterberg applied psychology to increase industrial production in 1912 & around the same...
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