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Stages Involved in Strategy Audit Programme | Strategic Management

The strategy audit programme is conducted in three stages in succession as following: 1. Diagnosis 2. Focused Analysis 3. Recommendations. Stage # 1. Diagnosis: It includes the following: (i) Reviewing key documents, such as: Strategic plan, Business or Operational plan, Organisational details, Major policies affecting matters, such as resources allocation and performance measurement. (ii) Reviewing performance against yardsticks (strategically determined) [...]

By |2017-03-04T15:07:51+05:30March 4, 2017|Auditing|Comments Off on Stages Involved in Strategy Audit Programme | Strategic Management
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Plans to Achieve Objectives of a Company | Management

The following points highlight the three main types of plans that are made to achieve the objectives through the company policies. The plans are:- 1. Strategic Plans 2. Intermediate-Range Plans 3. Short-Range Plans. Type # 1. Strategic Plans : They determine both the major objectives of an organisation and the policies and strategies to achieve those objectives. Strategic plans are [...]

By |2017-03-04T15:07:51+05:30March 4, 2017|Objectives|Comments Off on Plans to Achieve Objectives of a Company | Management
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14 Elements Affecting Master Strategy of a Firm | Strategic Management

The following fourteen key elements that vitally affect the master strategy of a firm need redefinition and/or redesign:- 1. New Markets or Services 2. Predicting Future Demand 3. Supply Related to Demand 4. Climate of Industry 5. Crucial Factors 6. Position in Market 7. Service Abilities 8. Finance and Management 9. Combination of Services 10. Adding to Capabilities 11. Vertical [...]

By |2017-03-04T15:07:50+05:30March 4, 2017|Strategy|Comments Off on 14 Elements Affecting Master Strategy of a Firm | Strategic Management
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