Strategic Management

What steps should Kartik adopt before expansion and diversification? Would it be a wise decision to diversify at this stage?

Q1. These are the plans formulated to achieve strategic goals.
  1. Tactical plans
  2. Strategic plans
  3. Operational plans
  4. Standing plans
Q2. This strategy facilities specialization by establishing a position of overall cost leadership, differentiation, or both, but only within a particular segment, in an entire market.
  1. Specific
  2. Focus
  3. Directive
  4. Differentiation
Q3. This plan basically defines the actions of major departments and other sub-units that are required in the execution of a strategic plan.
  1. Tactical plan
  2. Operational plan
  3. Single-use plan
  4. Long-term plan
Q4. This is a distinctive business or collection of related business, that can be managed relatively independent of other businesses within the organization
  1. Functional unit
  2. Department unit
  3. Organizational unit
  4. Strategic business unit
Q5. These strategic plans of the organization have a time-frame exceeding five years.
  1. Short-terms plans
  2. Single-use plans
  3. Long-term plans
  4. Intermediate plans
Q6. Operational plans are mainly oriented towards issues that usually have a time horizon of
  1. About five years
  2. 3 to 5 years
  3. 1 to 2 years
  4. One year or less
Q7. These refer to the determination of the purpose and the basic long-term objectives of an enterprise, and the adoption of courses of action and allocation of resources necessary to achieve these aims.
  1. Strategies
  2. Plans
  3. Policies
  4. Procedures
Q8. These strategies provide guidelines for organizational growth
  1. Organizational
  2. Finance
  3. Marketing
  4. Growth
Q9. There are the three major kinds of standing plans: policies, rules, and
  1. Projects
  2. Programs
  3. Procedures
  4. Standards
Q10. This step in the planning process involves putting the plan into action.
  1. Implementation
  2. Selection
  3. Evaluation
  4. Review
Part Two:
Q1. Explain the ‘Adaptive mode’ of strategic management.
Q2. What is ‘Behavioral theory’?
Q3. Write about ‘Delphi technique’ of forecasting.
Q4. What are the basic steps one should follow for the ‘Value chain analysis’?
Q5. If you were appointed as a CEO of AEL, Would you like to go for a separate design division?
Q6. Critically evaluate the future plans of AEL.
Q7. Do you think the target set by AEL was realistic? Comment.
Q8. Comment on the management strategies adopted by AEL.
Q9. As Kartik, what would have been your strategies to deal with the defaulters?
Q10. What steps should Kartik adopt before expansion and diversification? Would it be a wise decision to diversify at this stage?

What steps should Kartik

Q11. Strategic planning involves both, the development of organizational objectives and the laying down of specifications about how they will be accomplished. In this context, outline the major steps in the strategic planning process.
Q12. Implementing strategies effectively is of great importance. The success of a strategy depends on how effectively it is implemented. Elucidate.

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