Day: June 13, 2022

TOPIC EIGHT STRATEGY AND DIVERSIFICATION Meaning of Diversification A diversification strategy is the strategy that an organization adopts for the development of its business. This strategy involves widening the scope of the organization across different products and market sectors. … Read More …

TOPIC SEVEN ORGANIZATIONAL CULTURE AND STRATEGIC MANAGGEMENT Definition Organizational culture is the collection of values, expectations, and practices that guide and inform the actions of all team members. Components of organizational culture 1. Vision and Values The backbone of an Read More …

TOPIC SEVEN STRATEGY EVALUATION AND CONTROL Strategy Evaluation and control Strategy Evaluation and control is a process of determining the effectiveness of a given strategy in achieving the organization objectives and taking corrective action whenever required Strategy evaluation is that Read More …

TOPIC SIX STRATEGY IMPLEMENTATION Meaning of strategy implementation Strategy implementation is the process that turns strategies and plans into actions to achieve both a vision of the future and associated financial and nonfinancial goals (like customer satisfaction). Implementation of strategy Read More …

TOPIC FIVE STRATEGY FORMULATION Meaning of strategy formulation Strategy formulation refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives and thereby achieving the organizational vision. Importance of strategy formulation Read More …

TOPIC FOUR FORECASTING STRATEGIC MANAGEMENT Meaning of forecasting Forecasting is the process of projecting past sales demand into the future. Implementing a forecasting system enables you to assess current market trends and sales quickly so that you can make informed Read More …

TOPIC THREE COMPETITIVE ADVANTAGE Meaning of Competition Competition is a commitment within an organization to make a very large change in competitive relationships Competitive advantage The term can be defined to mean ―anything that a firm does especially well when Read More …

TOPIC TWO STRATEGIC MANAGEMENT OF ENVIRONMENT Environment in strategic Management Environment is defined as something external to an individual or organization. Business environment consists of all the factors that affect a company’s operations, actions and outcomes. These are: 1. Micro Read More …

TOPIC ONE INTRODUCTION TO STRATEGIC MANAGEMENT Meaning of terms Strategic management is a set of management decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy formulation, strategy implementation and evaluation and control to Read More …

TOPIC ONE INTRODUCTION TO STRATEGIC MANAGEMENT TOPIC TWO STRATEGIC MANAGEMENT OF ENVIRONMENT TOPIC THREE COMPETITIVE ADVANTAGE TOPIC FOUR FORECASTING STRATEGIC MANAGEMENT TOPIC FIVE STRATEGY FORMULATION TOPIC SIX STRATEGY IMPLEMENTATION TOPIC SEVEN STRATEGY EVALUATION AND CONTROL TOPIC SEVEN ORGANIZATIONAL CULTURE AND Read More …