This document provides information on strategic management. It discusses the key elements of strategic management including formulation, implementation, and evaluation. It also outlines an organization's mission to be the best digital company, internal and external environmental analysis, objectives to provide quality products and services, and resources like human, financial, technological, and physical resources. The document also discusses strategic planning, the chain of command, monitoring and controlling performance, benchmarking, evaluating variances from standards, corrective actions, and the characteristics of goals and objectives.

2. is
an art & science of
formulation, implementation &
evaluation of cross functional
decisions that enable an
organisation to achieve its
given objectives
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3.  Formulation
 Implementation
 Evaluation

4.  Mission - To be the best “digital εCompany”
 Vision – “Inspire the World, Create the Future”

5.  Internal environment –
Analysis of internal environment helps the
business to know its strengths and
weaknesses
 External environment –
Analysis of external environment helps the
business to know its opportunities and
threats

6.  To provide branded products and services
 To provide superior quality and value that improves
the lives of the world's consumers
 Higher leadership sales
 Profit and value creation
 Allowing people, shareholders and the communities
to prosper

9. Questioning the purpose and weighing
the pros & cons.
ABC decided to change their
strategy in order to create awareness of
their brand being a new entrant
The Aditya Birla Group has a
Corporate Strategy and business
development division to deal with
business portfolio management, focusing
on long term sustainability, profitability
and value creation

10.  A is a document which provides
information regarding the different elements
of strategic management & the manner in
which an organization and its strategists
propose to put the strategies into action

11. Ranges from launching & marketing
the product, generating finance,
awareness through advertising, target
audience
Different resources in an
organisation are :
 Human resources,
 Financial resources,
 Technological resources,
 Physical resources

12. • The chain of command, also
called the scalar chain, is the
formal line of authority,
communication, and
responsibility within an
organization
• It is usually depicted on an
organizational chart, which
identifies the superior and
subordinate relationships in
the organizational structure
• Provides for clear assignment
of duties and responsibilities

13.  Monitor
 Control
 Evaluate Performace

14. While fixing the standards, strategists
encounter questions such as - what
benchmarks to set, how to set them and
how to express them. In order to
determine the benchmark performance
to be set, it is essential to discover the
special requirements for performing the
main task

15. The standard performance is a bench mark with
which the actual performance is to be compared.
The reporting and communication system help
in measuring the performance. If appropriate
means are available for measuring the
performance and if the standards are set
in the right manner, strategy evaluation
becomes easier.

16. The comparing step determines the
degree of variation between actual
performance standard.
Six Sigma is a strategic management
process that helps in finding out deviations

17. While measuring the actual performance and
comparing it with standard, there may be variances
which must be analysed. The strategists must
mention the degree of tolerance limits between actual
and standard performance.
Action taken by the company to prevent the
reoccurrence of an event that caused the problem
initially.

18. Strategic Planning Strategic Management
1.Concerned with
Developing a long range plan for a
business enterprise
Enabling an organisation to
achieve its goal by formulating,
implementing & evaluating cross
functional decisions
2.Nature
It is not a strategy but a procedure
for formulating a strategy
It is a process of 3 stages:
formulating, implementing &
evaluation
3.Flexibility
Very rigid Quite flexible
4.Working on
Planning strategies for various units Managing strategies for various
units

20.  Responsive
 Innovative
 Team Orientation
 Simplicity

21. It denote what an organization hopes to
accomplish in a future period of time
 S- SPECIFIC
 M-MEASURABLE
 A-ACHIEVABLE
 R-REALISTIC
 T-TIME BOUND.

22. They are the statements that guide
the manager to take the right
decision and action.
It is step by step methodology
to achieve a particular goal.