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1. ASSIGNMENT JULY DECEMBER 2016
MS-11 (SAMPLE COPY)
Course Code MS - 11
Course Title Strategic Management
Assignment Code MS-11/TMA/SEM - II/2016
Assignment Coverage All Blocks
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2. 1. What do you understand by a ‘Mission Statement’? Can there be a strategy without a mission statement?
Justify giving examples.
A mission statement is a statement which is used as a way of communicating the purpose of the organization. Although most of
the time it will remain the same for a long period of time, it is not uncommon for organizations to update their mission statement
and generally happens when an organization evolves. Mission statements are normally short and simple statements which outline
what the organization's purpose is and are related to the specific sector an organization operates in.
Properly crafted mission statements serve as ----------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------mission, corporate mission, or corporate
purpose.
The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-
making. It provides the framework or context within which the company's strategies are formulated." It is like a goal for what the
company wants to do for the world.
According to Dr. Christopher Bart, the commercial mission statement consists of three essential components:
1. Key market: Who is ----------------------------------------------- (generalize if needed)?
2. Contribution: What ----------------------------------------------------------- to that client?
3. Distinction: What makes ----------------------------------------------------- client would choose you?
A personal mission statement is developed in ----------------------------------------------------------------------------------------------------
-------------------------------------------------------------- wants to focus on, wants to accomplish and wants to become. It is a way to
focus energy, actions, behaviors and decisions towards the things that are most important to the individual.
The sole purpose of a mission statement is to serve as your company's goal/agenda, it outlines clearly what the goal of the
company is. Some generic examples of mission statements would be, -------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------- to ensure that the mission statement does not lose its touch and become boring or stale.
An article which can be found here explains the purpose of a mission statement as the following:
"The mission statement reflects every facet of your business: the range and nature of the products you
offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your
customers, employees, suppliers, competitors and the community.
It is important that a mission statement is not ------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------. Vision
statements tend to be more related to strategic planning and lean more towards discussing where a company aims to be in the
future.
Advantages of Mission Statement
Provides direction: Mission statements are --------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------, this is
why providing direction could be considered one of the most advantageous points of a mission statement.
Clear purpose: Having a clear purpose can remove any potential ambiguities that can surround the existence of a business. People
who are interested in the progression of the business, such asstakeholders, will want to know that the business is making the right
choices and progressing more towards achieving their goals, which will help to remove any doubt the stakeholders may have in
the business.
The benefit of having a simple and ------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------

3. -------------------------------------------------------------------------------------------------------------------------------------sense of purpose it
will allow them to focus more on their daily tasks and help them to realise the goals of the organisation and their role.
A well-developed mission statement is a ---------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------or two. If you read it out loud, it should take about
30 seconds. And it should answer questions people have about your business, like:
 Who is ----------------------------------------------------?
 What do you ------------------------------------------------- for? And why do you do it?
 Do you want to ----------------------------------------------------- make a living?
 What markets --------------------------------------------------- do you offer them?
 Do you ------------------------------------------------------- customers?
 What kind of internal work environment do you want for your employees?
Formulation of Mission Statements.
The mission statements are formulated from the following sources:
i) National -------------------------------------------------- and industrial policy statements.
ii) Corporate philosophy as --------------------------------------------- years.
iii) Major ------------------------------------------- statements.
iv) The --------------------------------------------------------------------be hired.
Can an Organization Have a Successful Strategic Plan Without Effective Mission Statement?
The strategic plan is the blueprint that ---------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------missions and
objectives and, its success is dependent upon the organization attaining its mission.
Mission Statement
The business’s mission statement provides a wide, universal view of the organization’s reason for existence. It identifies the
organization’s ultimate goal, or vision, and ----------------------------------------------------------------------------- and cultures. The
mission statement is void of specifics and is often so general that it may appear unattainable.
Objectives
In order to develop successful strategies, the -------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------------------is meeting
its objectives in a timely and affordable fashion.
Strategic Plan
The strategic plan analyzes the internal and --------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------------------to achieve
success, as well as the budget and resources that must be used to complete the task.
Considerations
The strategic plan involves defining and ------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------to be unsuccessful because it will
lack direction which will reduce the organization’s potential for a competitive advantage.
7 REASONS YOUR COMPANY NEEDS A CLEAR, WRITTEN MISSION STATEMENT
Sometimes business owners ask me if it is really --------------------------------------------------------------------------------------------------
---------. Here is why I think it is critical that every business (even small businesses) have a clear, written mission statement.

4. 1. IT DETERMINES THE COMPANY’S DIRECTION
Smart business owners use this statement -----------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------determines
your destination.” This leads to the second reason.
2. IT FOCUSES ------------------------------ FUTURE
Many people refer to this as the “vision-----------------------------------------------------------------. Where will you be in 1 year? 3
years? 5 years? The mission tells us what we’re doing today that will then take us where we want to go in the future.
3. IT PROVIDES A -------------------------------------------MAKING
A clear mission sets important boundaries which enable business owners to delegate both responsibility and authority. Mission is
to the company what a compass is to an explorer, a ---------------------------------------------------------------------- a framework for
thinking throughout the organization. It provides the boundaries and guardrails you need in order to stay on the path to your
preferred future.
4. IT FORMS THE BASIS FOR ALIGNMENT
When a new employee is ------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------- to better effectiveness and
efficiency.
5. IT WELCOMES HELPFUL CHANGE
Many people are resistant to change because it causes us to feel insecure and sometimes out of control. However, if the mission is
clear, then team members are more likely to see the value of the change and how it helps the organization accomplish the mission.
This will create a culture that welcomes change when warranted.
6. IT ---------------------------------------------- STRATEGY
Every business and business owner needs a --------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------------------most
effective strategies possible to accomplish the mission their company is set out to accomplish.
7. IT FACILITATES -------------------------------------------- AND IMPROVEMENT
It has been said that “What you measure will be your mission.” If you have a clear, written statement of mission you will know
exactly what to measure and how to measure it.
Some Examples-
1. American Express
"Customers will never love a company until the ---------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------------------------the
need to support their employees so their employees can support their customers.
2. India Today “ -------------------------------------------------”.
3. Bajaj Auto, “----------------------------------------------------- Years”.
4. -----------------------, “ To be a world class Competitor”.
5. HMT, “--------------------------------------------------”.
Some experts argue that these are the publicity slogans. ------------------------------------ examples are as follows:
6. --------------------------------------------------- “To become a research based international Pharmaceuticals Company”.
7. Eicher Consultancy “To make India --------------------------------------------------------------------------- senior managers.”

5. 2. What determines the intensity of competition as per Porter’s Model? Identify the key strategic factors of the
firm you are acquainted with, in its external environment.
Porter's five forces analysis is a ----------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------", in which available
profits for all firms are driven to normal profit.
Porter’s five forces model helps in accessing where the power lies in a business situation.Porter’s Model is actually a business
strategy tool that helps in analyzing the attractiveness in an industry structure. It let you access current strength of your
competitive position and the strength of the position that you are planning to attain.
Porters Model is considered an important part of planning tool set. ---------------------------------------------------------------------------
-------------------------------------------------- improve the weaknesses and can compete efficiently and effectively.
Porters model of competitive forces assumes that there are five competitive forces ------------------------------------------------------
------------------------------------------------------. These five competitive forces identified by the Michael Porter are:
1. Threat ------------------------------------- products
2. Threat -------------------------------------
3. Intense ------------------------------------------- players
4. Bargaining ------------------------------------- suppliers
5. ------------------------------------------------- of Buyers
1. Threat of substitute products
Threat of substitute products -----------------------------------------------------------------. Threat of substitute is high when:
 There are ------------------------------------------------------------------------------ available
 Customer can easily ------------------------------------------------------------------- at the same or less price
 Quality -------------------------------------------------------------------------- product is better
 Substitute product is by a company earning high profits so can reduce prices to the lowest level.
In the above mentioned situations, Customer can easily switch to substitute products. So substitutes are a threat to your
company. When there are actual and --------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------, if competition rises or technology modernizes then
prices and profits decline.
2. Threat of new entrants
A new entry of a competitor into your market also weakens your power. Threat of new entry depends upon entry and exit
barriers. Threat of new entry is high when:
 Capital --------------------------------------------------- are less
 Few --------------------------------------------------------- are in place
 Customers ----------------------------------------------------- (low switching cost)
 Your key ------------------------------------------------------------ protected well
 Your product is not differentiated
There is variation in attractiveness of segment depending upon entry and exit barriers. That segment is more attractive which has
high entry barriers and low exit barriers.
Some new firms enter into ---------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------face more risk because poor performance companies stay in and

6. fight it out. When these barriers are low then firms easily enter and exit the industry, profit is low. The worst condition is when
entry barriers are low and exit barriers are high then in good times firms enter and it become very difficult to exit in bad times.
3. Industry Rivalry
Industry rivalry mean the ----------------------------------------------------------------------------. Intensity of rivalry depends on the
number of competitors and their capabilities. Industry rivalry is high when:
 There are number of ----------------------------------------------- there’s a clear market leader.
 Customers ------------------------------------------------- costs
 --------------------------------------------------------------------------------
 Exit barriers are -------------------------------------------------------- and compete
 Fixed cost are high resulting huge production and reduction in prices
These situations make ------------------------------------- modifications, ultimately costs increase and it is difficult to compete.
4. Bargaining power of suppliers
Bargaining Power of supplier means how strong is the position of a seller. How much your supplier have control over
increasing the Price of supplies. Suppliers are more powerful when
 Suppliers --------------------------------------------------------------- organized
 A few substitutes available to supplies
 Their ---------------------------------------------------------- or unique
 Switching ------------------------------------------------------- to another, is high
 You are not an ----------------------------------------------------- to Supplier
When suppliers have more control over ------------------------------------------------------------------. It is best way to make win-win
relation with suppliers. It’s good idea to have multi-sources of supply.
5. Bargaining power of Buyers
Bargaining Power of Buyers means, How much control the buyers have to drive down your products price, Can they work
together in ordering large volumes. Buyers have more bargaining power when:
 Few ------------------------------------------------------------ goods
 --------------------------------------------------------------------- quantities
 Product --------------------------------------------- differentiated
 Buyer’s ---------------------------------------------------- product is low
 Shopping ----------------------------------------------------- low
 Buyers ----------------------------------------------------- sensitive
 Credible Threat of integration
Buyer’s bargaining power may ---------------------------------------------------------------------------------------------------------------------
---------------------------------------- but huge quantity ordering buyers, then they have the power to dictate you.
What Determines the Level of Competitive Intensity in an Industry
Renowned business management -------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------. He also noted those factors that impact rivalry.
Costs
Among his factors that affect competitive intensity, Porter mentions a few cost-related factors. These include high fixed costs,
high storage costs and low switching costs. When companies invest significantly in fixed costs, they generally compete mightily to

7. sell enough products to cover those costs. High costs of storage prompt companies to compete to make sales quickly. When
customers have free mobility to change providers it forces more intense competitive rivalry.
Many Firms, Flat Market
One of the more obvious reasons for high --------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------and competitors work hard to steal customers.
Differentiation Potential
The level of possible product or service differentiation ---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------diversity among providers with regard
to the makeup of their companies and strategies can lead to more rivalry.
Ability to Leave
The ease with which companies can exit an industry also affects competitive intensity. Porter notes that high barriers, including
costs, of exiting an industry ------------------------------------------------------------------------------ than to stay and compete, they are
more likely to make the investment and commitment necessary to optimize their potential within the industry. In industries where
exit is simpler, companies may opt out rather than stay the course and fight intensely for business.
Example- (Key strategic factors of Tata Nano- )
Threat of New entrants
The threat of new entrants is very high for the small car industry. The growing economy and the increasing buying power of the
customers -------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------, competition from existing players, customer switching costs and the investment
decisions.
Result: Threat of new entrants is HIGH, hence Industry attractiveness is LOW
Threat of substitutes
Substitutes for this Tata ‘Nano’ already existed in the market from players like Maruti 800, Chevy Spark, Alto, Estilo, Wagon R,
Reva electric car etc. Most of the -------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------- to small car with fuel efficiency. The customer rational
thinking in this buying process will be based on three costs, i.e.
 Cost of the buying the vehicle
 Maintenance cost ( spares, Fuel )
 Resale value of the vehicle ( Depreciation value should be less )
Result: Threat of substitutes is HIGH, hence Industry attractiveness is LOW
Bargaining power of suppliers
The suppliers for this industry include the supply ----------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------realizing that there are lot of opportunities
in automobile industry; hence there are lot of suppliers in this industry.
Result: Bargaining power of suppliers is medium, hence Industry attractiveness is moderate
Bargaining power of buyers

8. The bargaining power doesn’t have major influence in current scenario as Nano doesn’t have direct alternative in its 600CC
product category. But there is availability of substitutes for buyers in terms of vehicle utility. Hence the bargaining power of
buyers is medium.
Result: Bargaining power of buyers is medium, hence Industry attractiveness is moderate
Industry Rivalry
Automobile industry in India is ---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------car segments.
Result: Threat from rivals is high, hence Industry attractiveness is low.
3. Describe corporate culture. Do you think that a corporate culture can be changed? Justify your answer with
the help of suitable examples.
Corporate culture refers to the shared values, ------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------The
concept is somewhat complex, abstract, and difficult to grasp. A good way to define it is by indirection.
Most corporate culture initiatives are launched with good intentions and flawed intelligence. Case studies show an established idea
that culture change is a top-down, one-size-fits all process. This misses the mark completely. Culture forms like a web, not a
pyramid.
There are tested building blocks that create the framework necessary for culture to spread. They are:
1) The culture story—how ------------------------------------------------------- and given context.
2) Role modeling—leading by example, ------------------------------------------.
3) Reinforcement—organizational ------------------------------------------------------- cultural values.
4) ---------------------------—give -------------------------------------- the new culture.
For culture to take root, you need to build framework and commit to the process. Psychological studies show that for cultural
values to be successfully adopted—in a business or a community—there must be constant reminders of them everywhere,
throughout the day.
Culture is created by consensus. It’s ------------------------------------------------------------- group. But it all starts somewhere.
CULTURE IN SMALL BUSINESSES
Culture can be a particularly important consideration for small businesses. A healthy company culture may increase employees'
commitment and productivity, while an unhealthy ------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------.
Instead of attempting to retain control over all aspects of the business, the small business owner should, as consultant Morty
Lefcoe told Nation's Business, strive to "get everybody else in the organization to do your job, while you create an environment so
that they can do it."
In a healthy culture, employees view themselves as part -----------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------

9. -needs. They only perform the most basic requirements of their jobs, and their main—and perhaps only—motivation is their
paycheck.
Since every company is different, there are many ways to develop a culture that works. Following are several main principles that
small business owners should consider in order to create a healthy corporate culture:
Prevailing corporate culture begins at the top. ---------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------------------------
personal ethics, and dealings with others (customers, vendors, and employees) will almost certainly find their companies defined
by such characteristics.
Treat all employees equally. Entrepreneurs should treat all employees equally. --------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------"Doing otherwise quickly undermines employees' morale'¦. Showing favoritism in the workplace is like
swimming with sharks—you are destined to get bitten."
Hiring decisions should reflect desired corporate culture. The wise --------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------typically benefit from having a diverse workforce rather than one that is overly homogeneous.
Two-way communication is essential. Small business owners ----------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
--------effort on behalf of the overall business, productivity declines and growth comes to a halt. Unfortunately, many
entrepreneurs tend to ignore the developing cultures within their businesses until it is too late to make needed changes.
In an article for Entrepreneur, Robert McGarvey outlined some warning signs of trouble with the company culture, including:
increased turnover; difficulty in hiring talented people; ------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
culture. If so, the small business owner should take steps to improve the culture, including reaffirming the company's mission and
goals and establishing a more open relationship with employees.
Each organization has its own way of dealing with corporate problems and do have their own organizational structure. The culture
of the organization very much depends on the behaviour of the employees. If the employees have a strong commitment towards
their organizations, the organization is said to have a strong culture and vice versa.
For example, Infosys—one of top companies in the area of IT in India—can be said to have a strong organizational culture. This
is reflected in its annual results. It is not easy to ------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------more on the role of leaders in shaping the
culture of the organization and will discuss the role of leaders in handling the employees.

10. Operating largely outside of --------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------offers a vision around
which a company can rally.
At the observable level, culture is manifested in an organization’s climate — the behaviors and strategies that can be managed in
support of organizational goals.
The value is in understanding an organization ---------------------------------------------------------------------- goals. Only then can the
workspace truly provide the support team members need.
Because each culture type is distinct, the -----------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------. Various
subcultures will exist in departments or teams — some even contradicting the overall organization’s culture. By looking at culture
and subculture throughout an organization, space planners can begin to structure solutions to the work styles they will support. By
starting with a meaningful cultural assessment, planners can resolve complex and often competing issues with creative,
constructive solutions that benefit team members and improve business performance.
Yes, A Corporate Culture can be changed ---------------------------------------------- by taking firm actions.
Based on experience of Mr. Mike, President of Thomas Nelson Company, ---------------------------------------------- of your own
business, or any organisation:
1. Become aware of the culture. Begin to notice it’s characteristics. Pay attention to shared values, the way people express
----------------------------------------------------------------------- tell about their success and failures.
2. Assess your current culture. Start by creating three lists:
o What should stay? Write down ----------------------------------------------------- and want to preserve.

11. At Thomas Nelson we had a performance -----------------------------------------------------------------------------------------------
-----------------------------. We had to succeed financially in order to resource our mission.
o What should go? Write down ---------------------------------------------------------- going to go forward.
At Thomas Nelson, we had a “closed book” ---------------------------------------------------------------------------- company
was performing were those in top management.
I believed that if we practiced an ----------------------------------------------------------------------------------------------------------
-------------------------------------------------, we could all work together to improve results.
o What is missing? Write down ----------------------------------------------------------- or weak.
At Thomas Nelson, individual --------------------------------------------------------------------------------------- responsibility
and this created a lot of blame-shifting.
3. Envision a new culture. This is the fun part. Rather than simply complain about what is, begin to image what could be.
Imagine you are ------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------- culture look like? Write it down in as much detail as possible.
I wrote down five pages of notes --------------------------------------------------------------------------------- team, and we fine-
tuned it. This became a blueprint for what we wanted to create.
4. Share the vision with everyone. --------------------------------------------------------------------------------------------. You have
to articulate in a way that is compelling and specific.
And you can’t just do this once. One of my mentors said to me, “ you must keep casting the vision. When you start
getting sick of hearing yourself talk about it, you’re only half done. Keep speaking it!”
Why? --------------------------------------------------------------------------------). Initially, the only existence vision has is in
your words. You have to keep speaking it until it takes root and begins to grow.
5. Get alignment from your leadership team. --------------------------------. You. This is something altogether different.
You want a team that buys the vision, understands what is at stake, and is willing to take a stand to make it happen.
Think of it as a ------------------------------------------------------------------- together to make a positive change that will
transform your organization.
6. Model the culture you want to create. The culture of a company is the behavior of its leaders. If you change their
attitudes, their values, their beliefs, their behaviors, you will change your culture. If you don’t, you will fail.
This is why you -----------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------That may sound harsh, but it’s true. If
you don’t, nothing will change in the organization.
As Gandhi famously said, “Be the change you want to see in the world.”
And by the way, -----------------------------------------------------------------------------------------------------------------------
department, division, or operating unit. In fact, that’s usually how it works.
That is exactly how I did it at Thomas Nelson. I started implementing what I am sharing here five years before I became
the president of the company. Frankly, I think it had a great deal to do with why I kept getting promoted.
Is it possible to change the culture of your organization? ---------------------------- in leadership, you must be intentional.

12. 4. Explain with the help of relevant examples expansion through integration.
Expansion through integration-
The Expansion through Integration means combining one or more present operation of the business with no change in the
customer groups. This combination can be done through a value chain.
The value chain comprises of -------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------to focus more
comprehensively on the needs of the existing customers.
The expansion through integration -------------------------------------------- expansion strategy. There are two ways of integration:
Vertical integration:
The vertical integration is of two types: -------------------------------------------------------------------------------------------------------------
---------------- made a forward integration. Example, the manufacturing firm open up its retail outlet.
Whereas, if the organization retreats to the source of raw materials, is said to have made a backward integration. Example, the
shoe company manufactures its own raw material such as leather through its subsidiary firm.
Horizontal integration allows a -----------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------of production or
distribution within the same industry.
----------------------------------------------------------------- acquires a distributor, which is further down the supply chain.
Backwards integration is when the ----------------------------------------------- is further up the supply chain.
Examples of vertical integration
 Oil companies such as ----------------------------------------------------------------------------------------, refines the oil and
retails through their gasoline service stations.
 Design-build firm Majestic -----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------- vertically integrated firm:
Land > planning > construction > financing > leasing > management
 A healthcare ------------------------------------------------------------------- to hospital and long-term care.
Examples of partial vertical integrations you could consider
 Some franchisors create profit -----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------often depend on local
vendors who are required to meet rigid specifications.

13.  In some businesses, vertical integration is inherent-most wine producers produce their own grapes. Big producers also
make their own bottles.
 Apple© has moved from ------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------well as their own chain of retail stores.
 Yum Yum/------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------and quality of its finished products.
 A home-based costume jewelry entrepreneur is vertically integrated if she or he is also the designer and manufacture of
the products.
Advantages of Vertical Integration-
Achieve economies of scale
When Walmart ------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------of-the-art communications and
computer tools in the distribution process.
Create ----------------------------- centers
Internet-based online stores ---------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------stores when people can buy your product from their homes?
Likewise, business-to-business sales (as contrasted to business between a producer and a consumer) have led to successful vertical
integrations.
------------------------- geographically
Geographical expansion generally works best when expanding within a firm's own segment in the supply-distribution spectrum.
For example, Proctor and Gamble's acquisition of Iam's pet foods expanded Iam's reach into worldwide markets.
Louis Vuitton, the manufacturer ----------------------------------------------------------------------------------------------------------------------
-----------------------opening their own stores in the fashion capitals of the world.
Maintain --------------------------------------------
If you're a cake maker and manufacture -------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------thirds of extra
virgin olive oil sold in stores.)
Protecting proprietary processes or recipes
In some cases, ------------------------------------ secrets and outsourcing their manufacture would be unthinkable. Think Coke©.
Horizontal Integration:
A firm is said to have made a horizontal integration when it takes over the same kind of product with similar marketing and
production levels. Example, ---------------------------------------------------------------------------- company.
As in the ------------------------------------------------------------------ own advantages and disadvantages. But first let’s take a look at
some of the companies who have implemented this concept and to evaluate how successful they were. These are the examples of -
------------------------------------------------------------------------------.
After reaching a certain level of success, Walt -----------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------action
films (For example, ------------------------------------------------------------------). In this manner the company managed to reach new
audiences and control a bigger share of the film industry.
Another good example would consist in --------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------, but in order to develop them, they need more
financial and human resources.

14. However, this company has created itself a name on ------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------this integration, and the European
company will get the localized expertise.
A horizontal integration can generally be --------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------will generally see horizontal integration taking its
own sweet time to fall through.
Horizontal integration can prove to be a successful strategy when
 Your --------------------------------------------------------------------------- industry
 Your competitors are lacking capabilities, skills or resources that you can provide
 The cooperation ----------------------------------------------------------------- by the government
 The economies of scale would have a significant effect.
What works for a company doesn’t ----------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------, and on the most important element of the company, the
value chain.
Advantages of Horizontal integration
Higher Efficiency
Since the companies work together-----------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------increase profits. They also have more strength over
supplier and distributor. It reduces the competitor.
Economies of Scale
Economies of scale give ------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------of scale by HI can help the company to accomplish require imposing
business model and ignore from the business sector.
Economics of Scope
Horizontal integration allows achieving ----------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------between the companies.
International Trade
Integrating horizontally helps the company to enter outside businesses immediately. This diminishes the expense of international
trade by permitting the company to both handle and offer the product in the foreign market.
Horizontal Integration in a Supply Chain
A supply chain is the network of ---------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------establish growth.

15. Horizontal Integration is the expanding of a --------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------------------For
example, a hair salon that sells a limited number of shampoo brands may add other brands to its shampoo offerings in order to
appeal to a wider and more diverse customer base.
Merger
A company also can achieve --------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------all producers of a specific
product or service merge and an oligopoly when the majority of the producers merge.
Acquisition
A third way a company can achieve -----------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------merger combines
the merged companies into one entity. An acquired company is absorbed into the existing company that took it over.
Example-
How integration works in the travel business-
5. Suppose you are a Manager (Strategy). Try to develop a model for evaluation and control process of your
organization.
As a manager (Strategy), the model for evaluation and control process is as follows.
Suppose I am manager at ABC Corporation (Imaginary Company) and I have to make model for evaluation and control process
for ABC Corporation. Suppose ABC Corporation is a leading Steel Company in India and-
Our Focus: ------------------------------------------------------------------- long-term survival
Our wants: people to ------------------------------------------------------------------- success
Our Management: takes care not to --------------------------------------------------------------------- about other issues.
We don’t clutter the picture with lofty vision statements as ask employees to pursue vague, intermediate objectives like “
excellence “ or burden them with complex business strategies.
Our Competitive Strategy: to build ------------------------------------------------------------------------------------------ we ask to our
employees to produce more products for less money. Then we reward them for doing that well

16. Evaluation and Control in Strategic Management:
Evaluation & control -----------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------develop new implementation
programme or procedures.
Evaluation and Control information must be relevant to what is being monitored. Evaluation and Control are not easy activities;
one of the obstacles to effective control is the difficulty in developing appropriate measures of important activities and outputs.
This process provides the feedback ------------------------------------------- action, as needed. The process could be as follows:
1. Determine what to measure: Top ---------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------------– the ones that
account for the highest proportion of exposure or the greatest no. of problems.
2. Establish standards of Performance: ----------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------------------output, but
also for intermediate stages of production output.
3. Measure actual performance. Measurements must be made at predetermined times.
4. ----------------------------------------------------- with the standard – if the actual performance results are within the desired
tolerance range, the measurement process stops here.
5. Take corrective action: If the actual ------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------prevent its
recurrence. The following issues must be resolved:
 Is the deviation only a chance fluctuation?
 Are the --------------------------------------------------- out in correctly?
 Are the processes appropriate for achieving the desired standards?
Objectives for Strategy Evaluation and Control „
 Organizations are ------------------------------------------------------------- peak of their success „
 Erroneous strategic decisions can inflict severe penalties and can be exceedingly difficult, if not impossible, to reverse. „
 Strategy evaluation is vital -----------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------------
-----------can be compared with desired performance.

17. Measuring Performance
 Performance is the end result of activity. Which measures to select to assess performance depends on the organizational
unit to be appraised and the objectives to be achieved.
 The objectives that were --------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------- been implemented.
Primary measures of Corporate Performance
The days -------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------„ Stakeholder measures: „
 Shareholder values „
 Balance Score Card approach „
 Strategic Audit
BSC evaluate strategies from 4 perspectives:
1. ----------------------------------------: how do we appear to shareholders?
2. Customer knowledge: how ------------------------------------------------- us?
3. Internal ------------------------------: What must we excel at?
4. Innovation & Learning: Can -------------------------------- and create Value?
The Scorecard is used to evaluate strategies. -------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------on this
method, then objectives for what the strategies should achieve can also be set using the same criteria.
Strategic Audit:
Strategy audit is one of the methods for evaluating --------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------. The process involves the following steps: „
 Identification of functions or process-------------------------------------------------- advantage, that has to be audited.
 Determination --------------------------------------------------------- or process.
Now the questions come why Strategic Audit is important for corporate planning? Strategic Audit helps to:
 Evaluate ------------------------------------ result
 Review corporate governance
 Scan and -------------------------------------------- environment
 Scan -------------------------------------------------- environment
 Analyze ----------------------------------------- SWOT.
 Generate and evaluate strategic alternatives
 Implement ---------------------------------------
 -----------------------------------------and control
CONTROLLING:
Controls can be established to focus e----------------------------------------------------------------------------------------------------------------
----------------------------- the performance (BEHAVIOR) or resources that are used in performance (INPUT).
The Primary Types of Organizational Control „
There are three primary types of organizational control: strategic control, management control, and operational control. „
 Strategic control, the ------------------------------------------------------- is formulated and after it is implemented. „

18.  Management control focuses on ------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------plans (for example,
"are quality control objectives being met?"). „
 Operational control is concerned -----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------- organizational plans
(for example, "are individual sales quotes being met?").
Each of these types of control is not a separate and distinct entity and, in fact, may be indistinguishable from others. Moreover,
similar measurement techniques may be used for each type of control.
Guidelines for Proper Control:
Measuring performance is a crucial part of Evaluation and Control. The lack of quantifiable objectives or performance standards
and the inability of the information system to provide timely, valid information are two obvious control problems.
In designing a control system, top ------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------to develop the control system in any organization:
1. Controls should involve only the ----------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------: Monitor those 20% of the factors that determine 80% of
the results.
2. Controls ----------------------------------------------------- activities and result.
3. Controls should ----------------------------------------------
4. ---------------------------------------------------------- term and short term
5. Controls -------------------------------------------------------------- exceptions.
6. Controls should be used to --------------------------------------------------------- punish failure to meet standards
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