Strategic Mgt
MB0052- Strategic Management & Business Policy
Assignment Set-I
What is meant by strategy ? Differentiate between goals and objectives?
Answer: Strategy is the method by which an organization systematically achieves its future objectives. A business cannot progress for a long term without a reliable strategy.
Strategy is a common direction set for the company and its various components to accomplish a desired position in the future. A meticulous planning process results in strategy. It is a comprehension of the goals which has logical step by step process. It defines the general mission and vision of an organization. It is important to consider that the decisions taken by an organization are likely to affect the employees, customers and competitors.
Strategy guides the organization to achieve a long term goal. The strategy is advantageous to the organization through its configuration of resources within a challenging environment. It helps to meet the requirements of market and shareholders.
Strategy is a plan that is aimed to give a competitive advantage to the organization over rivals through differentiation. Creating a strategy begins with extensive research and analysis. It is the process through which senior management concentrates on top priority issues tackled by the company to be successful in a long term.
It is the design of decisions in an organization that sets its goals and plans to achieve it. The organization plans the future goals to contribute at large to its shareholders, customers and to the society. Strategy is always improving and is amendable. It is a plan of future activities which is aimed at the progress of an organization. It is a set of directions to enhance the position of the organization in the overall market. Business strategy is the method by which an organization achieves and maintains success.
Difference between Goals and Objectives: Goals | Objectives |
Assignment Set-I
What is meant by strategy ? Differentiate between goals and objectives?
Answer: Strategy is the method by which an organization systematically achieves its future objectives. A business cannot progress for a long term without a reliable strategy.
Strategy is a common direction set for the company and its various components to accomplish a desired position in the future. A meticulous planning process results in strategy. It is a comprehension of the goals which has logical step by step process. It defines the general mission and vision of an organization. It is important to consider that the decisions taken by an organization are likely to affect the employees, customers and competitors.
Strategy guides the organization to achieve a long term goal. The strategy is advantageous to the organization through its configuration of resources within a challenging environment. It helps to meet the requirements of market and shareholders.
Strategy is a plan that is aimed to give a competitive advantage to the organization over rivals through differentiation. Creating a strategy begins with extensive research and analysis. It is the process through which senior management concentrates on top priority issues tackled by the company to be successful in a long term.
It is the design of decisions in an organization that sets its goals and plans to achieve it. The organization plans the future goals to contribute at large to its shareholders, customers and to the society. Strategy is always improving and is amendable. It is a plan of future activities which is aimed at the progress of an organization. It is a set of directions to enhance the position of the organization in the overall market. Business strategy is the method by which an organization achieves and maintains success.
Difference between Goals and Objectives: Goals | Objectives |