Tag Archives | Strategic Management

Determining Competitive Strategy of a Firm | Company Management

The problem of determining competitive strategy of a firm is that of finding the right product-market-sales approach combination for effective accomplishment of its objectives in each field of endeavour specified in the organisation mission and deriving associated goals in the various functional areas of the business. The choice of a particular strategy is possibly the most critical in the competitive [...]

By |2017-03-04T15:07:51+05:30March 4, 2017|Company Management|Comments Off on Determining Competitive Strategy of a Firm | Company Management

Criteria for Evaluating the Strategy of a Firm | Company Management

The strategy adopted by a firm, for the purpose of evaluation as to its effectiveness, should be judged against the following criteria and allied aspects:- 1. Functional Evidence 2. Realism and Practicality 3. Consistency in Direction 4. Assumptions Validity 5. Contingencies Recognition 6. Appropriateness. Criteria # 1. Functional Evidence: (i) What are the performance indicators—quantitative and qualitative—identified for scrutiny? (ii) [...]

By |2017-03-04T15:07:51+05:30March 4, 2017|Strategic Planning|Comments Off on Criteria for Evaluating the Strategy of a Firm | Company Management

Top 3 Planning Activities Carried out in Firms | Management

The nature and kind of planning activities carried out in firms are discussed as follows:- 1. Strategic Planning Activities 2. Operational Planning Activities 3. Budgetary Planning Activities. Also learn about the relationships among them. 1. Strategic Planning Activities: These are longer-term in nature, involve top-level executives and more global in their effect on the firm. These consist of: (a) Establishing [...]

By |2017-03-04T15:07:51+05:30March 4, 2017|Strategic Planning|Comments Off on Top 3 Planning Activities Carried out in Firms | Management
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