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Strategy is the way of integration activates of diverse function

Strategy is the unique approach towards the business

Strategy is hill amount of process (lot of thinking )



 

Department planning is not strategy

Policy is not strategy

Bench mark is not strategy

  
-Core competencies are particular strengths relative to other

organizations in the industry which provide the fundamental basis for the provision
of added value. Core competencies are how to coordinate diverse production skills
and integrate multiple streams of technologies. It is communication, an
involvement and a deep commitment to working across organizational boundaries.

Example ±as we saw in a case they have core competence in technology so if the
competition is increase they switch over the product .

  

strategic intent is a high-level statement of the means by which

your organization will achieve its vision. It is a statement of design for creating a
desirable future (stated in present terms). Putting it simple, a strategic intent is your
company's vision of what it wants to achieve in the long term.


 
 For an organization to obtain a sustainable competitive
advantage Michael Porter suggested that they should follow either one of three
generic strategies.

1.Cost leadership-This strategy involves the organization aiming to be the lowest

cost producer within their industry. The organization aims to drive cost down
through all the elements of the production of the product from sourcing, to labour
costs. The cost leader usually aims at a broad market, so sufficient sales can cover
costs.

2.Differentiation-A differentiation strategy calls for the development of a product

or service that offers unique attributes that are valued by customers and that
customers perceive to be better than or different from the products of the
competition. The value added by the uniqueness of the product may allow the firm
to charge a premium price for it.

3.Focus strategy-The focus strategy concentrates on a narrow segment and within

that segment attempts to achieve either a cost advantage or differentiation. The
premise is that the needs of the group can be better serviced by focusing entirely on
it. A firm using a focus strategy often enjoys a high degree of customer loyalty,
and this entrenched loyalty discourages other firms from competing directly.

 

 

-planning and administration high level of performance

,customer satisfaction. Process management is group of activity more inputs,
transformed and add value to them providing one or more outputs for it¶s
customers process are fundamental activity that organization use to do work and
achieve their goals.


 ! 
- Distinctive competence of a firm refers to a set of
activities or capabilities that a company is able to perform better than its
competitors and which gives it an advantage over them .distinctive competence
integration of HR,MARKETING,FINCIAL,OPRATION to get distinctive
competence .

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! $ "%c- The resource-based view is a business management
tool used to determine the strategic resources available to a company. The
fundamental principle of the RBV is that the basis for a competitive advantage of a
firm.

Resources are classified in to three categories-

1.physical resources ±technology ,infrastructure and all the physical resources.

2. Human resources-individual ,training, recruitment, HR practices.

3.organization capital resources- CRM, culture ,collective report, partnership,
supplies all organization come under the organization capital resources.

these resources fulfill the following (VRIN) criteria-

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 - A resource must enable a firm to employ a value-creating strategy, by

either outperforming its competitors or reduce its own weaknesses.

  - To be of value, a resource must be by definition rare. In a perfectly

competitive strategic factor market for a resource, the price of the resource will be
a reflection of the expected discounted future above-average returns.



 
 - If a valuable resource is controlled by only one firm it could be a
source of a competitive advantage.

 
 
 - Even if a resource is rare, potentially value-creating and
imperfectly imitable, an equally important aspect is lack of substitutability.

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- source the product ,customization of product ,supple of

finish good.

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Measuring the effectiveness of the organization strategy, it¶s
extremely important to conduct a SWOT analysis to figure out the strengths,
weaknesses, opportunities and threats of the entity in question. This may require to
take certain precautionary measures or even to change the entries strategy.

Portal 5 force model- for the industry analysis 5force model is very necessary like
new entrants ,supplier bargaining power, customer bargaining power ,substitute
and internal rivalry.

Example-as we analysis the textile industry for industry analysis portal 5 force
model is important.

  


)breaking the strategy into pieces in action plan .Strategic
thinking ± way of looking by integrating the activities Strategic planning is the
formal consideration of an organization's future course. All strategic planning deals
with at least one of three key questions:

1.| ÎWhat do we do
 2.| ÎFor whom do we do it
3.| ÎHow do we excel

In business strategic planning, some authors phrase the third question as ÎHow can
we beat or avoid competition¶ But this approach is more about defeating
competitors than about excelling.

 

 guiding principal is the way to strategic action

guides an organization throughout its life in all circumstances, irrespective of

changes in its goals, strategies, type of work, or the top management.

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 )- The balanced scorecard is a strategic planning
and management system that is used extensively in business and industry,
government, and nonprofit organizations worldwide to align business activities to
the vision and strategy of the organization, improve internal and external
communications, and monitor organization performance against strategic goals The
³new´ balanced scorecard transforms an organization¶s strategic plan from an
attractive but passive document into the Îmarching ordersÎ for the organization on
a daily basis. It provides a framework that not only provides performance
measurements, but helps planners identify what should be done and measured. It
enables executives to truly execute their strategies.

corporate venture and corporate entrepreneur knowledge management is required

joint venture-it is not compulsion but the part of strategy . joint ventures limited by
guarantee with partners holding shares

  & 
 is a formal relationship between two or more parties to pursue
a set of agreed upon goals or to meet a critical business need while remaining
independent organizations..

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