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AMA, Strategy, Re engineering, Decision, Bagvad Gita in management -…
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Strategy
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Strategy and tactics
- Scale
- Scope
- Guidance
- Flexibility
- Timing in relation to action
- Resource utilization
- Uncertainty
- Levels of conduct
levels of strategy
- Corporate level
- Business level
- Functional level
- Corporate level strategy
Corporate level is at the top of an organization. It is composed of Board of Directors and chief executives of organization. They determine in which the business should focus. Their approach is mainly concerned with determining the value and image the firm. Corporate level strategy focus on overall financial performance and the non-financial goals of the firm such as company image, values and social responsibility.
- Business level
Business and corporate managers are mainly involved in formulating strategies at the business levels. Business level strategies are formulated to translate the general statements of direction and intern generated at the corporate level into concrete, functional objectives and strategies for individual business divisions. Business level strategies are used to determine the basis on which a company can compete in the selected product-market arena.
Types of strategy
- Grand strategy
- Functional strategy
- Competitive strategy
- Corporate strategy
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Participants of Strategic management process:
- Board of Director
- CEO
- Chief planning staff
- Senior managers
- Consultants
Effectiveness of a strategy
- Quantifiable
- Understandable
- Actionable
- Repeatable
- Timely
Re engineering
Principles
- To redefine the mission of the organization according to the modern trend and expectations of consumers.
- To identify the critical success factors of the business and focus on that.
- To operate the business with customer focused vision, improve the quality of the product and service, provide better customer service and enhance customer satisfaction.
- To maintain better relations with customers.
- To cut operational costs and to improve the overall efficiency of the business.
- To make reductions in lead time to launch a new product. 7. To increase the productivity and profitability of the business.
- To increase the value of the products.
- To introduce changes in the structure of the organization with the intention of improving the effectiveness of the organization.
- To formulate better strategy and implement it successfully in the organization.
- To flatten the organization and encourage the team work.
Advantages
- Reengineering is the only option when the old needs are to be completely replaced by new needs.BPR replaces the old needs of the business with the new ones.
- If a process in the organization does not help to serve the customers, then the process must be improved or redesigned to make the process to suit the customer’s requirement.BPR produce breakthroughs in process design, by altering it.
- No system is permanent. There must be continuous improvement in the system to suit the present requirement. In other words, the system must be redesigned according to the changes in the environment. BPR improves the business system to make an organization to make more competitive and effective one.
- The technological changes, increasing competition, increasing expectations and changes in the consumers ‘taste, etc. forced a business concern to completely revamp its operations.BPR helps a company to completely revamp its business operations
- BPR breaks down the internal barriers that originate from the line organization. BPR prepares the entire organization to function as a cross functional team.
- BPR helps to increase the value of the products and services offered to customers.
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Steps in BPR
- Recognizing and Identifying Problems of the Organization
- Establish Redesign Team
- Analyze and Document Process
- Innovate and Rebuild the New Process
- Reorganize and Retrain the People
- Evaluation of Performance
- Continuous Redesign and Improvement
Decision
Types of decision
- Strategy
- Tactical
- Operational
- Strategy:
Determining the long-term goals, culture and value systems of the organization, deciding to undertake joint-venture with a firm already existing in the market for the purpose of extension of market can be taken as examples for strategic decisions
- Tactical:
Tactical decisions are generally taken in the organizations to support strategic decisions. Locating manufacturing with in the developing nations for manufacturing products at lower cost with the aim of expanding market in that country is an example of tactical decision.
- Operational:
Operational decisions are more routine nature. They are taken in support of tactical decisions. Operational decisions are more structured, and taken without applying much decision making skills. Employing diploma holders instead of engineering graduates with intention of reducing cost can be taken as operating decision. It is taken in sport of tactical decision. Now a day’s many manufacturing concerns prefer diploma holders over engineering graduates to reduce the cost of operations of their business.
Effective decision making:
- Flexible and Well defined organization structure
- Effective communication system
- Standardization of policies, procedures and rules
- Prioritization of problem
- Participative decision making
- Management information system
- Application of appropriate techniques of decision making
- Encouraging creativity
- Training of managers
- Evaluating the effectiveness of Decision
Steps in Decision making
- Identify and diagnose the problem
- Developing possible alternatives
- Evaluate the alternative solutions
- Choose alternative solution
- Implement the decision
- Evaluate the decision
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