Name: Melania Mendes Div: Sy.B.M.

S B Roll No: 3333 Subject: Strategic Management

Question 1:Assuring yourself to be the chief executive of an organization ,relate the difficulties you would face in choosing and setting the objectives for your organization?

Question 2:A small scale industrialist recently attended a seminar on strategic management. She is quite enthusiastic but does not understand exactly how to use the SWOTanalysis for her company act as a consultant and advice her on how to use the sot analysis?

Question 3:The CEO of a textile mill is convinced that hisloss-making company can be turned around .Suggest an action plan for a turnaround to the Ceo?

Answer 1:An objective is a specific step, a milestone, which enables you to accomplish a goal. Setting objectives involves a continuous process of research and decisionmaking. Knowledge of yourself and your unit is a vital starting point in setting objectives.Strategic planning takes place at the highest levels; other managers are involved with operational planning. The first step in operational planning is defining objectives - the result expected by the end of the budget (or other designated) cycle. Setting right objectives is critical for effective performance management. Such objectives as higher profits, shareholder value,customer satisfaction may be admirable, but they don't tell managers what to do. "They fail to specify priorities and focus.

Objectives must be: be focused on a result, not an activity be consistent be specific be measurable be related to time be attainable As the CEO of the organization ,objectives are basically the decisions and actions that determine the long run performance of an organization.It is what the business wants to achieve and how to achieve. As a CEO of a company producing umbrellas, sweaters & raincoats, the objective of my company would be set on the basis of followings points: 1)Capital: Initially,capital is needed to commence any business. Therefore, investors, stakeholders, loan, loans from the government is required. For this, quality, collateral supportings and most importantly

trust-worthiness is needed. If capital is not enough, then the requirements cannot be met. 2) Permission from the Government:To any business, permission from the Government is very essential under companies act,1956. This gives a legal status to the company. Difficulties such as political intervention can take place thus giving rise to problems in attaining permission. 3)Factors of Production: a)Raw Materials: Raw Materials are required inorder to manufacture any good or commodity. Therefore , capital is required to purchase raw materials such as cotton, wool,plastic rubber, etc. b) Modern technology and machines: Advance and better machines and technology is needed for faster increase in production.Thus increasing the profits. c) Labour: Requirement of well-skilled labour. 4) Cost of production: Cost of production should not exceed the net-worth of the company. It should be budgetary and equally monitored. 5) Pricing: Pricing of the product depends upon the Cost of production and transportation cost. If the price of this facilities are high then the price of the product is high. If the quality of the product is good then the price is higher. 6) Transportation: Proper transportation should be made available. Goods when transported from one place to another have to be properly taken care of. They cannot be damaged or else they will occur a loss.

7) Quality: There have to be no comprises made on the quality of the product. Else it can hamper the image of the company, due to which it can suffer a loss. The quality of the product should be good. 8) Customer Satisfaction: This is one of the main objective. The taste and preferances of the customer has to be kept in mind. Availability and cost of the product has to be taken care of.Goods have to available to the customer whenever there is a demand for it.

Answer 2:A tool used by organizations to help the firm establish its Strengths, Weaknesses, Opportunities and Threats (SWOT). A SWOT analysis is used as a framework to help the firm develop its overall corporate, marketing, or product strategies. Note:Strengths and Weaknesses are internal factors which are controllable by the organization. Opportunities & threats are external factors which are uncontrollable by the organization.

Strength examples could include:

A strong brand name. Market share. Good reputation. Expertise and skill.

Weaknesses could include:

Low or no market share. No brand loyalty. Lack of experience.

Opportunities could include:

A growing market. Increased consumer spending. Selling internationally. Changes in society beneficial to your company.

Threats could include:

Competitors Government policy eg. taxation, laws. Changes in society not beneficial to your company.

A SWOT analysis is an excellent tool to use if the organization wants to take a step back and assess the situation they are in. Issues raised from the analysis are then used to assist the organization in developing their marketing mix strategy. A SWOT analysis must form the part of any prudent marketing strategy.

SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective A SWOT analysis must first start with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. Strategic Planning, has been the subject of much research . Strengths: attributes of the person or company that are helpful to achieving the objective.

Weaknesses: attributes of the person or company that are harmful to achieving the objective. Opportunities: external conditions that are helpful to achieving the objective. Threats: external conditions which could do damage to the objective.

Answer 3: Efficiency and profitability are major factors for manufacturingcompanies. Consistently downsizing all systems to current requirements, however, poses an acute danger to a companys ability of responding to future changes in the market. Frequently, a radical and rapidly executed restructuring is the only way to prevent a company from insolvency. The main challenge, however, is to achieve a sustained turnaround that takes the entire company to a higher performance level. Oliver Wyman pursues an integrated restructuring approach. Our typical restructuring concepts are based on three pillars:

Strategic restructuring: The focus is on core markets and promising business segments. Corporate divisions destroying value are divested consequently. Operational restructuring: It focuses on leaner organization and leaner processes, especially on the simplification of manufacturing networks and corporate structures, as well as on maximizing efficiency and effectiveness. Financial restructuring: A combination of cost reduction, more flexible structures, and the development of a sustainable financial concept.

The overall financial situation is as transparent as possible and that the influence of the identified restructuring measures becomes clear, Analysis and concept development which considers the information needs of lenders is conducted rapidly, The most relevant people from the clients organization are involved in order to achieve acceptance for the implementation of improvements, A consistent project management and controlling process is established during the implementation phase to ensure that the pursued improvements are fully realized, All stakeholders are continuously informed and involved in order to identify risks and avoid counterproductive conflicts. Oliver Wyman has successfully restructured companies of different industries and sizes. Our contribution is our unique combination of distinctive industry know-how and comprehensive restructuring expertise. Our restructuring competencies include

Development of restructuring concepts, Execution of restructuring and turnaround programs, Conducting debt restructuring, Development of divestment strategies, Distressed M&A support.

The company can also merge with any other profitable company.