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Master of Business Administration-MBA Semester 1
MB0038 – Management Process and Organization Behavior
4 Credits Assignment Set- 1 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions.
Q.1 Define the terms ‘strategy’. Explain the following:
a) Corporate strategy
b) Business strategy
c) Functional strategy
Ans-: strategy- a plan of action designed to achieve a long-term or overall aim
a) Corporate strategy involves answering a key question from a portfolio perspective: "What business should we be in?" Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Strategic management provides overall direction to the enterprise and involves specifying the organisation's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics.[2] Strategic management is not static in nature; the models often include a feedback loop to monitor execution and inform the next round of planning.
b) Business strategy involves answering the question: "How shall we compete in this business?" A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-termbusiness planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer)
c) selection of decision rules in each functional area. Thus, functional strategies in any organization, some (e.g., marketing strategy, financial strategy, etc.). It is desirable that they have been fixed in writing. In particular,
MB0038 – Management Process and Organization Behavior
4 Credits Assignment Set- 1 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions.
Q.1 Define the terms ‘strategy’. Explain the following:
a) Corporate strategy
b) Business strategy
c) Functional strategy
Ans-: strategy- a plan of action designed to achieve a long-term or overall aim
a) Corporate strategy involves answering a key question from a portfolio perspective: "What business should we be in?" Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Strategic management provides overall direction to the enterprise and involves specifying the organisation's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics.[2] Strategic management is not static in nature; the models often include a feedback loop to monitor execution and inform the next round of planning.
b) Business strategy involves answering the question: "How shall we compete in this business?" A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-termbusiness planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer)
c) selection of decision rules in each functional area. Thus, functional strategies in any organization, some (e.g., marketing strategy, financial strategy, etc.). It is desirable that they have been fixed in writing. In particular,