Strategic Management
Unit I
LESSON
1 Concept of Corporate Strategy
LESSON OUTLINE Introduction What is strategy? Why corporate strategy? Levels of strategy Crafting a strategy An ongoing process Summary Self assessment questions Activities References LEARNING OBJECTIVES After reading this lesson you should be able to Define and understand the concept of corporate strategy Identify the different levels of corporate strategy Examine the reasons for developing strategies See corporate strategy as an on going process
Organizations are facing exciting and dynamic challenges in the 21st century. In the gloabalized business, companies require strategic thinking and only by evolving good corporate strategies can they become strategically competitive. A sustained or sustainable competitive advantage occurs when firm implements a value – creating strategy of which other companies are unable to duplicate the benefits or find it too costly to initiate. Corporate strategy includes the commitments, decisions and actions required for a firm to achieve strategic competitiveness and earn above average returns. The goals of corporate strategy are challenging not only for large firms like Microsoft but also for small local computer retail outlets or even dry cleaners. Table 1.1 lists the top ten strategists in India in 2005..
TABLE 1.1 - INDIA’S TOP TEN STRATEGISTS Name of the company Infosys Technologies Reliance Industries Wipro Hindustan Lever Maruti Udyog Dr. Reddy’s Laboratories HDFC Bank Jet Airways ICICI Bank Ranbaxy Laboratories Position in the industry 1 2 3 4 5 6 7 8 9 10
* Source - Internet What is strategy? Strategy”, narrowly defined, means “the art of the general” (the Greek stratos, meaning ‘field, spread out as in ‘structure’; and agos, meaning ‘leader’). The term first gained currency at the end of the 18th century, and had to do with stratagems by which a general sought to deceive an enemy, with plans the general made for a campaign, and
LESSON
1 Concept of Corporate Strategy
LESSON OUTLINE Introduction What is strategy? Why corporate strategy? Levels of strategy Crafting a strategy An ongoing process Summary Self assessment questions Activities References LEARNING OBJECTIVES After reading this lesson you should be able to Define and understand the concept of corporate strategy Identify the different levels of corporate strategy Examine the reasons for developing strategies See corporate strategy as an on going process
Organizations are facing exciting and dynamic challenges in the 21st century. In the gloabalized business, companies require strategic thinking and only by evolving good corporate strategies can they become strategically competitive. A sustained or sustainable competitive advantage occurs when firm implements a value – creating strategy of which other companies are unable to duplicate the benefits or find it too costly to initiate. Corporate strategy includes the commitments, decisions and actions required for a firm to achieve strategic competitiveness and earn above average returns. The goals of corporate strategy are challenging not only for large firms like Microsoft but also for small local computer retail outlets or even dry cleaners. Table 1.1 lists the top ten strategists in India in 2005..
TABLE 1.1 - INDIA’S TOP TEN STRATEGISTS Name of the company Infosys Technologies Reliance Industries Wipro Hindustan Lever Maruti Udyog Dr. Reddy’s Laboratories HDFC Bank Jet Airways ICICI Bank Ranbaxy Laboratories Position in the industry 1 2 3 4 5 6 7 8 9 10
* Source - Internet What is strategy? Strategy”, narrowly defined, means “the art of the general” (the Greek stratos, meaning ‘field, spread out as in ‘structure’; and agos, meaning ‘leader’). The term first gained currency at the end of the 18th century, and had to do with stratagems by which a general sought to deceive an enemy, with plans the general made for a campaign, and