IGIGNOU MBA MS-11 Fixed Assignment 2013
Course Code: MS-11
Study course Title: Strategic Management
Task No .: MS-11/TMA/SEM-I/2013
Coverage: Most Blocks
Notice: Attempt the questions and fill in this job on or before 30th April, 2013 to the manager of your study center.
Q1. Explain how can the SWOT analysis can be useful for formulation of strategies for different business scenarios. Illustrate your answer with the help of examples. Remedy: SWOT Analysis is a valuable technique for understanding your Abilities and failings, and for discovering both the Possibilities open to you and the Threats you face. Why is SWOT especially powerful is the fact, with a little believed, it can help you uncover possibilities that you are able to exploit. And by understanding the disadvantages of your organization, you can take care of and eliminate threats that would otherwise catch you unawares. More than this, searching at yourself and your opponents using the SWOT framework, you can begin to art a strategy in order to you identify yourself from your competitors, to be able to compete efficiently in your market.
SWOT is an acronym that stands for " strengths, disadvantages, opportunities and threats. " SWOT can be an synthetic tool lets you identify inner factors, pros and cons of your business, along with external factors, opportunities and threats. Once you have identified the various components in a SWOT evaluation, you can use each item to formulate a means to00 take action.
•Identify the overall goal and purpose of the analysis. You'll be wanting to determine this obviously before beginning the SWOT examination. For example , one objective might be to determine the right way to expand your company to a larger market. •Write down a list of strengths that may be attributed to your existing business for the aim you described in Step 1 . For example , should your company has run successful marketing campaigns before, this may be a strength. •Write down a directory of weaknesses which can be attributed to your existing corporation. For example , your business may not have manpower to complete the work that needs to be completed to expand the business enterprise. •Write down list chances that are external to your existing organization. These kinds of opportunities will have a positive impact on your goal. For example , when a competitor improvements its concentrate and may no longer be a direct rival. •Write straight down a list of threats that are external to your corporation. For example , the economy being within a recession is usually an external threat. •Analyze and write down ways to take advantage every single strengths and opportunities and to minimize disadvantages and risks. Use these kinds of strategies to do something towards your general goal or perhaps objective
Case in point SWOT
A start up small agency business may well draw up the subsequent SWOT Research: Strengths:
•We are able to act in response very quickly as no bureaucracy, and no dependence on higher managing approval. •We are able to offer really good customer care, as the latest small amount of operate means we certainly have plenty of time to devote to customers. •Our business lead consultant offers strong standing in the market. •We can change way quickly whenever we find that the marketing is definitely not working. •We have low overheads, thus we can offer good value to customer
Q2. An organization can choose from several types of Growth Strategies”. Explain any two of the growth strategies you may have studied and highlight situations under which each is the best. Solution: The term strategy means a well prepared, deliberate and overall opportunity to achieve specific objectives. Relating to chandler, " technique is the determination of the basic long term objectives of an enterprise and the adoption of...