Tag Archives | Strategic Management

Stages Involved in Strategy Audit Programme | Strategic Management

The strategy audit programme is conducted in three stages in succession as following: 1. Diagnosis 2. Focused Analysis 3. Recommendations. Stage # 1. Diagnosis: It includes the following: (i) Reviewing key documents, such as: Strategic plan, Business or Operational plan, Organisational details, Major policies affecting matters, such as resources allocation and performance measurement. (ii) Reviewing performance against yardsticks (strategically determined) [...]

By |2017-03-04T15:07:51+05:30March 4, 2017|Auditing|Comments Off on Stages Involved in Strategy Audit Programme | Strategic Management
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Bench­marking a Company: Concept and Process | Company Management

In this article we will discuss about the concept and process of benchmarking of a company. Concept of Benchmarking: The concept of benchmarking was pioneered in USA by Xerox Corporation in 1979. Benchmarking is defined as the continuous process of measuring the products, services, and business practices of a company against the toughest competitors or those companies recognised as industry [...]

By |2017-03-04T15:07:50+05:30March 4, 2017|Company Management|Comments Off on Bench­marking a Company: Concept and Process | Company Management
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Sources to Gain Competitive Advantage of a Firm | Management

The evidence of researches so far made provides two major approaches to achieving competitive advantage:- 1. Market share approach, and 2. Synergy approach. Major sources of competitive advantage for each of these approaches are indicated in the diagrams next— Market Share Approach: Let us now briefly examine the sources and arguments concerning market share and implications for strategy: 1. Scale [...]

By |2017-03-04T15:07:50+05:30March 4, 2017|Firms|Comments Off on Sources to Gain Competitive Advantage of a Firm | Management
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