MS-91 - Advanced Strategic Management

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MS-91 - Advanced Strategic Management

ASSIGNMENT

Course Code : MS-91

Course Title : Advanced Strategic Management

Assignment Code : 91/TMA/SEM-II/2013

Coverage : All Blocks

Q1. a) What is the significance of corporate policy in today’s changing scenario?

Answer : Business success or failure is largely dependent on how the various functional areas in management are combined to produce and deliver value to different stakeholders. This integration of functions is taking place in a continuously changing and complex environment. The Corporate Strategy & Policy Area (CSP) deals with issues related to the formulation and implementation of management and change strategies as organizations strive to remain successful and grow in an increasingly complex, competitive and globalised world. It is therefore interdisciplinary by nature and requires an understanding of all functional areas.

       b) Select an organization of your choice (Name and describe the organization) and briefly discuss the various types of policies it has adopted.

Answer : When considering what types of policies your business needs, it can quickly become very confusing to keep the terms straight. An easy way around this dilemma is to keep in mind that all business insurance and all policy types cover one of four things: property, liability, people or income.

Property: The property used in your business such as the structure you do business in or the vehicles used in your business need to be protected. Property and Casualty policies protect property.

 b) Discuss in detail the various modes of entry adopted by Ranbaxy. (Refer to the case study given in Block 3)

Answer : 1.LOCAL  DISTRIBUTORS    IN  INDIA.

2.DIRECT  EXPORTS

Direct exports represent the most basic mode of exporting made by a (holding) company, capitalizing on economies of scale in production concentrated in the home country and affording better control over distribution.

3.Nonconforming purchasing agents

These are similar to confirming houses with the exception that they do not pay the suppliers directly – payments take place between a supplier/

Q3. How can creativity be encouraged within an organization? Discuss with the help of an example of a creative organization.

Answer : The demand for creativity from employees is rising in this age of rapid technological advancement. This is evident when we see multinational companies like Google setting up something known as a the 20 percent program or policy where Google developers get to spend 20 percent of their working hours (a day at work) on side projects. It was an attempt to give employees the time and space to think innovatively. Indeed, the policy works well, with some of the best products of Google (e.g. Google News) originating from the program.

Ways to encourage creativity :

1. Reward Creativity

If you want to get employees to think out-of-the-box, you need to motivate them with some form of rewards. Moreover, suggestions have to be taken seriously so that employees are willing to come up with more creative ways of improving the workplace. Otherwise, everyone will think it’s a waste of time to squeeze out creative juices for suggestions that won’t be implemented anyway.

To kick-start things up, you can set goals for your employees to think up of some ways of making work processes more efficient. Perhaps each employee can be tasked to provide one suggestion by the end of each week and you’ll assess which idea is the best. This will be followed with a reward for the employee and equally important, implementation. The reward can be tangible ones like giving monetary incentives, or intangible ones like recognition from the organization by announcing the winner to the rest.

2. Anonymity & Confidentiality

Your employees may already be motivated to be creative but have no outlets to voice out their wonderful ideas. While the outspoken ones can always speak to the management about some suggestions they have in mind, others may be too shy or afraid to do so in this manner. Providing a suggestion box or anything similar would grant these employees the anonymity and confidentiality they crave, thereby inspiring the creative spirit that you wish to instil as part of the organization culture.

However, some of the most creative ideas are born out of brainstorming sessions where a group of people discuss and debate about possible solutions to a problem. Having such a private channel for employees to contribute ideas may thus hinder the creative process. Moreover, those who provide the effective ideas won’t get identified and get the recognition they need. It will be wise to balance both private and public mediums for employees to propose their suggestions.

3. Innovation Teams

A more systematic way of promoting creativity in the workplace is to set up innovation teams. Each innovation team will be tasked to come up with ideas on how to improve the work process of a particular aspect. Deadlines are to be set to

Q4. No business can exist without ethics. In the light of this, explain the importance of ethics for a business.

Answer : Importance of Business Ethics

Ethics in business are not only common sense, but business sense as well, no matter if you run a huge corporation or a little home business from your garage.

Some people raise hell when they get bad service or are overcharged for a product. But the vast majority of people are too busy or too tired to make a scene or write letters of complaint. This majority of customers just make a quiet mental note of what a useless business you have, and vow to never go back there, and they usually

Q5. Write short notes on the following:

a)    Need for Corporate Governance

Answer : With increased global competitiveness, the growing market in Yemen is faced with the challenge of attracting and retaining investment in order to participate more fully in the global economy and address mounting demographic concerns. Increasing awareness and implementation of good corporate governance practices can improve the investment climate and promote the development of a vibrant private sector and capital market. However, in order to advance corporate governance, stakeholders must find and coordinate ways to implement principles that produce internationally acceptable standards and reflect local business realities such as the predominance of family-owned firms.

The interest in corporate governance is due

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