XIBMS – Business Strategy 1 – Describe Vision and Mission statements with suitable illustrations. What is the difference between vision and mission? How does business

Describe Vision and Mission statements

Business Strategy 

Questions:

Q1. Write short notes on ANY TWO of the following
a) Globalization

b) Task and processes in formulating business strategy

c) TQM Philosophy

d) Characteristics of well formulated corporate objectives

Q2. Describe Vision and Mission statements with suitable illustrations. What is the difference between vision and mission? How does business definition help in articulating the Mission statement?

Q3. Describe Porter’s five forces model to analyse competition with reference to light commercial vehicle industry.

Q4. Describe the GE multifactor portfolio matrix and state how the GE matrix is superior tool Vis a Vis the BCG matrix.

Q5. a) Describe Ansoff’s matrix
b) What is the difference between market penetration and market development? Illustrate with suitable examples.

Q6. What is “Best cost provider” strategy? What are the risks in pursuing this strategy?

Q7. What strategic options a firm could follow when the firm is operating in a maturing industry?

Q8. Describe the role of strategy supportive reward system with suitable illustrations.

 

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