Global Strategic Management Pdf
Global Strategic Management 3e provides a clear insight into the corporate strategies of organizations operating on a global scale and explains the analysis, decision-making, and development. Global Strategic Management. Enterprise managers need to have a worldwide imaginative and prescient as a strategy to obtain success, with the skills to formulate and implement method all through borders. Global Strategic Management lays down the foundations of 'typical' method precept from a worldwide perspective.
Global strategic management involves a set on conceptual tools that help in navigating through the often contradictory and ambiguous mass of information, market, working staff and to sum it all up this all done and appreciated on an international platform. MBA Strategic Management Lecture Notes pdf. The purpose of this course is to enhance your ability to do the job of a general manager responsible for strategic performance. Specifically, to integrate the different functional areas of business (e.g. Accounting, finance, human resources, information systems, marketing, operations management. Design and execute a coherent, competitive multinational strategy and take advantage of emerging opportunities around the globe. Global strategic management Download global strategic management or read online books in PDF, EPUB, Tuebl, and Mobi Format. Click Download or Read Online button to get global strategic management book now. This site is like a library, Use search. A business strategy is then used as an umbrella term to denote the broad range of strategic options open to the company, including both orga- nizational and functional management strategy, product.
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Strategic management is the process by which strategies and policies are put into action through the development of programs, budgets and procedures can be further explained that an organization’s objectives must be identified in order to develop such policies and plans. The Chief Executive Officer (CEO) and executive team should implement such plans. Strategic Management provides overall direction to the whole enterprise. The organization’s strategy must be appropriate for its resources, circumstances, and objectives. (Wheelen and Hunger 2006 p. 16.) Strategy can also be defined as the procedures involving development, drafting, implementation and assessment of multi functional decisions that are employed in an organization or firm so as it attains its short term and long term objectives, it’s the criteria used in specifying the firm’s mission, vision and developing of policies and plans and how to implement them with the goal of achieving the stipulated objectives. It further assigns resources for implementation of policies, plans, projects and programs. Traditionally strategic management has been employed on a local basis where the objectives and plans are not global oriented, but lately the traditional concepts have been embraced in a global manner i.e. extending the skills in a world scale perspective.
Global strategic management offers a clear insight on the effect of globalization in business management and organizations and hence it demands that managers should respond in the same or higher intensity in order to reap in the high benefits that come with it, Managers and CEO’S have to understand that the global phenomenon does not just come into play by making your firm global but they are required to develop models that embraces and resists strains from multinational networks of subsidiaries and ensure the models considers the required persistence of deep and momentous cross – national differences with these in play and appreciation of the diversity that exists across borders and continents politically, culturally and economically Global Strategic management can be achieved and dividends passed on to the investors.
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Global strategic management involves a set on conceptual tools that help in navigating through the often contradictory and ambiguous mass of information, market, working staff and to sum it all up this all done and appreciated on an international platform. There exists a series of considerations that have to always be kept on the check and always be incorporated in the complex decision making procedures that characterizes this level of business management. Managers and business executives at this level have to appreciate the differences between the multi-domestic and global nature of running business at this level, traditional strategic management concepts which have proved successful in local setting have faced challenges on a global arena and given back futile results this in a way have led to extensive losses by the affected firms. With this in mind firms that are already running on a global setting or have this as a future goal have not only have or plan to have a solid global strategic plan that’s strictly tailored for the specific firm but have to in depth have a set of monitoring and evaluation criteria of exactly what type of global strategy is theirs and and will it earn them long-term profitability and value.
Due to the nature and extent of running global firms many management techniques are to be employed, this have to easily integrate all the different departments in a synchronized and harmonious manner, this in itself boosts the overall management and performance of the firm. Global management requires employee management from the department heads to the lowest staff on the command chains where each and every staff of each firm has to have a clear definition and understanding of the company’s objectives, mission and vision. While this is being done employees have to understand that with more powers comes extra responsibilities and hence part of the strategic management plans should involve sufficient management accountability, communications and oversight from the top executives and for this to be easily achieved and in a successful manner their responsibilities have to be broken down in processes and tasks that can be easily reflected in productivity and profitability terms. And to easily attain these and continuously motivate the employees in achievement of the overall company global objective direct communication channels should be created and lower placed staff should be encouraged to use the open communication means for the attainment of the goal and their role in it should be well appreciated. In addition since on a global perspective the employee’s base is wide and shares extreme cultural and relational ways of lives the global firms should be able to compliment this in their employees and not fight it this is an important motivational practice especially for the workers.
Global firms need to also employ a detailed study research and SWOT (Strength, weaknesses, opportunities and threats) analysis, and this should be done not on their already existing markets but on a wider and more challenging global perspective. The strength of the firms in a global arena need to be analyzed and in them more research should be done in order to maximize on their potential so as to enjoy the full benefits of being a global firm. The weaknesses on the other hand should not at any time be pushed aside since they define the loophole if hit well can drain the company back to the ground, hence all the weak links should be investigated and be well covered in a strong strategic defence mechanism. On the other hand the opportunities that openly lie and exist in the strategic plans of the firm need to be intelligently harnessed or tapped and full benefit accrued from them. Lastly like in the local business management global arenas also exposes the business to threats which are even more complicated than the local ones, hence when developing the strategic plan for the wider market a deeper scan is mandatory and once all are identified ways of curbing them in case anything crops up need to be developed, this had to be carefully done though since one might by fear scare away for rucuitive opportunities by not risking.
Some few changes also need to be considered when developing the global plan, increase in the number of staff in order to match the extensive work load that comes up with the global market, other mechanisms employed by firms is the change of brand names and adopting of new and re-branded tags that sell the firm as a global entity and is more convincing to the market. The marketing of the firm as a global entity also need to be done but extremely vigorous so as to expose the firm clearly to the markets especially the global market.
Political differences and interference’s have also been some of the most important factors for consideration in the development of a firm’s global strategic plans. The management has to take into consideration that the firms doesn’t perform under similar political backgrounds and in each country they are involved the case is extremely unique and its specific conditions need to be considered and thought of completely carefully since the differences experienced from one country to the other are important. Some of the most successful global firms even go to the extent of exchanging favours for business favours this has proved important and successful to those firms. In their planning the forms also employ social procedures which they serve the local communities with and this increases their popularity.
Competitive Tactics are also very important in global strategic management, even though the market increases with size, the players in the market also increase a firm need to develop means of staying afloat in the market. The tactics have to be modern enough and able to make the customers chose it over other competitors in the market. They should be tailored to each specific consumer in each country in a language, tone and tongue they understood.
Advantages of global strategic management
- Lower marketing costs
- Economies of scale in production and distribution
- Ability to leverage good ideas quickly and efficiently
- Helps to encourage ancillary industries to be set up to cater fo
- Uniformity of marketing practices
- Power and scope
- Consistency in brand image
- Helps to establish relationships outside of the “political arena”
From the above its clear that this and more benefits are obtained from global strategic plans and this can be easily seen from first the scope of the work the firm does, this brings in more returns from the economies of scale that can be obtained from this. They also encouraged interaction among other firms global ones and this opens up chances and experiences for expansion one firm is able to learn from another an hence improve on areas the firm was weak before. The extended demographic coverage done by this firms also makes them gain firsthand experience on handling large number of clientele, data, resources and hence from their large portfolios they can easily develop even to larger firms by expanding their global strategic plans.
The advantages gained from management of a firm on a international perspective range all over business management, and if the opportunities are carefully taken and the risks technically mitigated against the success of any company on a global perspective is very imminent and should be pursued though carefully by any developing firm from any location on the globe.
Disadvantages of global strategic management
- Differences in consumer response to marketing mix elements.
- Differences in consumer needs, wants, and usage patterns for different products.
- Differences in product placement at the market.
- Differences in administrative procedures of the company between different employees and the employer.
- Differences in the legal environment, some of which may conflict with those of the home market especially when dealing with countries in the developing world.
- Differences in brand and product development and the competitive environment.
- Differences in the institutions available, some of which may call for the creation of entirely new ones (e.g. infrastructure).
In a case where the global recession affect the developed worlds like our country,this may greatly affect the strategic management of the companies and this in turn affect different branches of the same company in different parts of the world, this is a great disadvantage.
Different parts of the world have different laws governing investment and some of the laws and rules are hard on the foreign investors,therefore creating a big setback to strategic management of the different companies.
REFERENCES
http://www.palgrave.com/business/lasserre/
www.wikepedia.com
http://mimm-ltd.com/Documents/WSGEC2009_UK_Program_Book_7-15-09-.pdf
http://www-management.wharton.upenn.edu/mcdermott/files/MGMT655.pdf
Download MBA Strategic Management lecture Notes Pdf. Here We Provide the Download Links for MBA 3rd Sem Study Materials & Books for the Student Exam Preparations. You can Check MBA 3rd Semester PDF Study Material & Books with Download Links. You can easily adapt the MBA Lecture Notes, Study Materials, and Books to take full advantage of the complete material we offer in Below Links (MBA వ్యూహాత్మక నిర్వహణ). The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, operations, and statistics etc.
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MBA Strategic Management Lecture Notes pdf
The purpose of this course is to enhance your ability to do the job of a general manager responsible for strategic performance. Specifically, to integrate the different functional areas of business (e.g. accounting, finance, human resources, information systems, marketing, operations management, etc.) into a cohesive whole.
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The challenge is not only in identifying weaknesses and threats facing firms we will studybut to appreciate the strengths of the firm and anticipate opportunities in the external environment. Your role in this course is to correct organizational failures and expand upon organizational successes, however, failure and success may be defined.
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Strategic Management notes for MBA 3rd sem
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Suggested Books for Strategic Management
- Exploring Corporate Strategy by Johnson & Scholes, Publishing House: Prentice Hall
- The Strategy Process by Mint burg, Quinn, and Ghosal, Publishing House: Prentice Hall
- Strategic Management by Ireland, Hoskisson & Hitt, Indian Edition, Cengage Learning
- Concepts in Strategic Management & Business Policy by Thomas L. Wheelen & J. David Hunger, Pearson
- R.Srinivasan, Strategic Management -The Indian Context,
4th Edition, Prentice Hall of India, 2012 - R.Srinivasan, Case Studies in Marketing – The Indian
Context,5th Edition, Prentice Hall of India, 2012
Strategic Management syllabus- 3rd Sem
Unit I: Strategic Planning
Strategic Context and Terminology; Definition of Strategy; Difference between policy, Strategy, and Tactic;
Difference between Long Range Planning and Strategic Planning; Characteristics of Strategic Decisions
Unit II: Different Approaches to Strategy
Introduction to Different Approaches to Strategy; Incremental and Emergent Strategies; Implicit and Explicit Strategies; Approaches to Strategic Management; Strategic Implementation; Strategic Evaluation and Control; Planning Process: Feature, Importance, and Steps; Strategic Planning Process; Strategic Planning in the Next Millennium
Unit III: Strategy Formulation: Environmental Auditing
Environmental Analysis; Environmental complexity; Pestle Analysis; Porter’s 5 Force Analysis
Unit IV: Strategy Formulation: Strategic Direction
Introduction to Understanding Business; Competitor Analysis; Boston Matrix; International Dimensions of Strategy: Growth, Stability, Profitability, Efficiency, Market Leadership, Survival, Merger, and Acquisition; Core Competence
Unit V: Strategy Formulation: The Internal Audit
Bench Marking; the Use of McKinsey’s 7S Framework; SWOT (Strength, Weakness, Opportunities, and Threats) Analysis; Value Chain Analysis; Scope of Activities and Markets
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Unit VI: Strategy Implementation
The framework of Strategic Implementation: Concept, Factors Causing Unsuccessful Implementation of Strategy.
Activation Strategy; Structural Implementation; Functional Implementation; Behavioral Implementation;
Resource Mobilization and Allocation: Finance, Human Resources, Materials, and Time
Unit VII: Strategic Evaluation and Control
Strategic Evaluation and Control: Concept, Role, and Barriers; Control Process; Techniques of Strategic
Evaluation and Control
MBA Strategic Management Review Questions
1) Discuss the nature and importance of strategic management.
2) Explain the concept of competitive advantage, and how to sustain it?
3) What is turnaround management? Explain the elements of a successful turnaround
strategy.
4) What is meant by resource allocation? Explain techniques generally employed for
allocating resources.
5) Outline the various qualitative and quantitative criteria for strategy evaluation and
control? State the problems faced by strategists while fixing those criteria.
6) Briefly discuss the development of the theory of strategic management.
7) Discuss the role of leadership in strategy implementation.
8) Case Study:
Mr. Palani, Chairman of a company just had a discussion with a group of local people. The group is known as ‘Council for EnvironmentalAction’ demanded an immediate reduction of the pollutants thrown into the air by the plants of the company. Mr.Palani had explained the company’s policy of gradual reduction of pollutants and promised to study the matter further.
But the group has not satisfied and asked for another meeting in a
week’s time.Mr. Palani reluctantly agreed. Suggest a suitable proposal to present to the group at the next meeting to convince it totally.
Buy MBA Strategic Management books Online at Amazon.in
Strategic Management: A Competitive Advantage Approach, Concepts- Fred R. David
- Pearson
- Edition no. 14 (12/27/2011)
- Paperback: 400 pages
- JONES
- CENEAGE LEARNING INDIA PVT LTD
- Paperback
- English
- Physical Condition: Pen / Pencil Marks
- Charles W.L. Hill, Gareth R. Jones
- Cengage
- Edition no. 9 (01/01/1970)
- Paperback: 608 pages
- Product Condition: No Defects
- Garth Saloner, Andrea Shepard, Joel Podolny
- Wiley
- Paperback: 464 pages
- KAZMI ADELA ET.AL
- Mc Graw Hill India
- Paperback
- English
Global Strategic Management Frynas Pdf
Sale Strategic Management: Formulation, Implementation and Control - John Pearce, Richard Robinson, Amita Mital
- McGraw Hill Education
- Edition no. 12 (07/01/2017)
- Paperback: 860 pages
- Keller/ Parameswaran/ Jacob
- Pearson Education India
- Edition no. 4 (01/01/1970)
- Paperback: 616 pages
- Srinivasan R
- Prentice Hall India Learning Private Limited
- Edition no. Fifth (01/01/1970)
- Paperback: 372 pages
- S. Manikutty, Robert E. Hoskisson, Michael A. Hitt, R. Duane Ireland
- Cengage Learning India Private Limited.
- Edition no. 9 (01/01/1970)
- Paperback: 774 pages
- David A. Aaker, Damien Mcloughlin
- Wiley
- Paperback: 368 pages
- Ravi M Kishore
- Taxmann Publications Pvt. Ltd.
- Paperback
- Edition no. 2016 Edition (01/01/1970)
- English
- David
- Pearson Education India
- Edition no. 15 (01/01/1970)
- Paperback: 700 pages
- Product Condition: No Defects
- Kevin Lane Keller
- Pearson
- Edition no. Third (12/01/2010)
- Paperback: 752 pages
Global Strategic Management 4th Edition Pdf
Strategic Management of Human Resources- Jeffrey A. Mello
- Cengage
- Edition no. 3 (01/01/1970)
- Paperback: 710 pages
- Routledge
- Richard M.S. Wilson, Colin Gilligan
- A Butterworth-Heinemann Title
- Edition no. 3 (11/30/2004)
- Paperback: 882 pages
Global Strategic Management 4th Edition Pdf
BUSINESS POLICY AND STRATEGIC MANAGEMENT (PB).- Cherunilam F
- HIMALAYA PUB.HOUSE
- Paperback
- Edition no. 4 (01/01/1970)
- English
- Azhar Kazmi
- McGraw Hill Education
- Edition no. 3 (05/16/2008)
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