BBA202- BUSINESS STRATEGY

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ASSIGNMENT

DRIVE	WINTER 2014
PROGRAM	BBA
SUBJECT CODE & NAME	BBA202- BUSINESS STRATEGY
SEMESTER	2
BK ID	B1519
CREDITS	2
MARKS	30

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1. Give the meaning of the following:

(a) Functions of Business strategy

Answer : Competitive Distinctions

A business strategy is usually a short document, no longer than a page or so, that sets out the one or two key elements that distinguish a company from its competition, and are most likely to contribute to the company's long-term success. For example, an upscale clothier might decide its strategy is to be the premier

B)  Strategic Analysis

Answer :  A strategic analysis for a business is one of the most basic and useful tools for strategic business planning. Often, a strategic analysis will be referred to as a SWOT analysis; this is an acronym for the major divisions of the analysis: Strengths, Weaknesses, Opportunities, and Threats. Within these four areas, you will define your organization’s position relative to the competition and operational environments. While many believe it is best used at the organizational level, when properly implemented, a SWOT

2 Define strategic management. What are the causes for failure of Strategic Management?

Answer : 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

Q.3 Write a brief note on the following:

a) Core competencies and their importance

b) Strategic leadership.

Ans : a) Core competencies and their importance:

A core competency is a concept in management theory originally advocated by two business authors, C. K. Prahalad and Gary Hamel. In their view a core competency is a specific factor that a business sees as central to the way the company or its employees work. It fulfils three key criteria:

• It is not easy for competitors to imitate.
• It can be reused widely for many

b) Strategic leadership:

Strategic leadership provides the vision and direction for the growth and success of an organization. To successfully deal with change, all executives need the skills and tools for both strategy formulation and implementation. Managing change and ambiguity requires strategic leaders who not only provide a sense of direction, but who can also build ownership and alignment within their workgroups to

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