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3. Strategic Management
- VSP Rao & V Harikrishna
A Strategy Consists of
Strategic Management
' Study the External Industrial ' Identify and Study irms
Environment Internal Resources, Strengths
& Weaknesses
' Locate an Industry with its
potential for above-average ' Determine firm¶s potential
returns capabilities and resources
' Identify the Strategy called for ' Locate attractive Industry with
by the industry to earn above- opportunities that can be
average returns exploited with firm¶s
resources and capabilities
' Develop or acquire assets and
skills needed to implement the ' Select Strategy that best
Strategy allows the firm to utilize
resources and capabilities
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Customers
Suppliers
Government
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Employees
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Community
Society Shareholders
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' The Need for Survive, grow, progress and meet the
Stakeholders¶ expectations
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' Time rame => 3 Yrs ' Time rame <= 1 year