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Define strategic management and strategic planning

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Reference no: EM131603959 , Length: 3200 Words

Strategic Management and Business Policy

Q.1. (a) Define "Strategic Management" and "Strategic Planning".

(b) Discuss the benefits of Strategic Management.

Q.2. Discuss the difference between defensive strategies and pre-emptive strategies. Give examples to support your answer.

Q.3. (a) Why ‘Turnaround strategy' is sometimes called as an extension of restructuring strategy?

(b) Differentiate between surgical and non-surgical turnaround. Give examples .

Q.4. Write short notes on the following expansion strategies:

(a) Penetration strategy for growth in existing markets

(b) Expansion through diversification

Q.5.

Discuss the competitive strategy in:

(a) Emerging industry

(b) Declining industry

Q.6. "Benchmarking is the process by which companies look at the ‘best' in the industry and try to initiate their styles and processes."
Evaluate the rationale for benchmarking exercises and discuss the features and types of benchmarking. Please ensure to include an example to support your answer.

Reference no: EM131603959

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