In this article we will discuss about the importance of studying strategic management. Innovations and inventions in techniques and in goods and services have stimulated the growth of the 'knowledge industry', and been stimulated by it. As a consequence, the environment of organisations has shown rapid and turbulent change and has led to new forms of competition and challenges to [...]
In this article we will discuss about the nature and scope of corporate strategy of a firm. Corporate strategy is a management concept. Ansoff, by means a matrix: growth vector components (illustrated below), indicates the direction in which the firm should move with respect to its current product-market posture. 'Market penetration' denotes a growth direction through the increase of market [...]
The following points highlight the six internal factors influencing strategies and decisions of an organisation. The factors are:- 1. Top Management Philosophy 2. Mission and Objectives 3. Management Structure and Nature 4. Superior-Subordinate Relationship 5. Human Resources 6. Corporate Image and Product-Brand Image. Factor # 1. Top Management Philosophy: The management's attitudes and value judgments with respect to individual group [...]