Trade Learner
- Thread starter oilman5
- Start date
strategic management
....................................
STRATEGY requires thinking ,an ability to visualise future,analytical skill and to take well informed decision after collecting data and analysing info.Next come its implementation.
Normally we say an issue is strategic ,when it requires top management involvement,commitment of major resources or an longterm impact.
design,planning and positioning model....................doing SWOT,thoroughing analysis of sector and then visualise and see from perspectives.
POWER MODEL :at micro level involve in bargaining, persuasion and confrontation.at macro level use power over its partners,joint ventures and network relationship .
ENVIRONMENT MODEL :HERE WE COPE WITH ENVIRONMENT .strategy is a response to the challange/ situation perceived /imposed by external environment.
configuration model : AN ORGANISATION DO MOVE FROM A STATE TO ANOTHER AS PER REQUIREMENT , PLASTICITY IDEA TO TAKE ITS SHAPE .......FITMENT .
....................................
STRATEGY requires thinking ,an ability to visualise future,analytical skill and to take well informed decision after collecting data and analysing info.Next come its implementation.
Normally we say an issue is strategic ,when it requires top management involvement,commitment of major resources or an longterm impact.
design,planning and positioning model....................doing SWOT,thoroughing analysis of sector and then visualise and see from perspectives.
POWER MODEL :at micro level involve in bargaining, persuasion and confrontation.at macro level use power over its partners,joint ventures and network relationship .
ENVIRONMENT MODEL :HERE WE COPE WITH ENVIRONMENT .strategy is a response to the challange/ situation perceived /imposed by external environment.
configuration model : AN ORGANISATION DO MOVE FROM A STATE TO ANOTHER AS PER REQUIREMENT , PLASTICITY IDEA TO TAKE ITS SHAPE .......FITMENT .
ECONOMIC GOAL OF AN ORGANISATION
..............................................................
3STAGE.....SURVIVAL,PROFITABILITY AND GROWTH. firm has to survive first[also applicable to any budding trader]dont take it as granted.reckless shortterm oriented decision,complacency.......quick fix idea to tackle larger root cause problem is the reason failure.
PROFIT TO BE SEEN WITH SUSTAINABILITY.PROFIT FROM CORE BUSINESS NOT BY A/C MANIPULATION.
GROWTH, PRECISELY PROFITABLE GROWTH IS AIM. IF COMPNY NOT ABLE TO GRASP OPPURTUNITY TO WIN OVER COMPETITOR,EXPANDING MARKET SHARE,DEVELOP NEW PRODUCT ........IT WILL MARGINALISE.
................................................
STRATEGIC PLANNING:VISION AND MISSION...........FUTUISTIC VIEW AND STATEMENT
CORE COMPETENCE:TANGIBLE AND INTANGIBLE ASSET COMPANY HAVE & COMPETIVE ADVANTAGE OVER OTHER COMPETITORS
VALUE : CULTURE AND ETHICS.
STRATEGIC OBJECTIVE : TARGET IDEA TO MEASURE KEY PERFORMACES LIKE MARKET SHARE, CUSTOMER LOYALTY, QUALITY SERVICE HUMAN CAPITAL ........ITS WORTHINESS
..............................................................
Business environment needs to be analyzed carefully before a strategic plan is prepared.2 environment..........remote and operating . remote environment includes .......political factor, economic factor,social factor,industry factor.OPERATING ENVIRONMENT MEANS how a company sells its product/service profitbly..........competitive position,reputation in labour market,credit worthiness,creditors view.operating environmnt is under the control of company,........where as for remote environment it has to adjust.
DURING THE PLANNING STAGE IDENTIFY KEY ISSUE.............WEAKNESS OF PRODUCT/SERVICES.........WHERE LIES OPPURTUNITY .CHANGE NEEDED IN COMPANY TO SUPPORT STRATEGY.........PRESENT SKILL AND RESOURCES.UNDERSTAND EFFECTIVE IMPROVEMNT...............some key issue r cost, service,new market,products,expansion, acquisition,organisation structure, core competence,new technology,info system.
ANY STRATEGIC PLAN ALSO MAXIMISE PRESENT RESOURCES ,SKILLS AVALABLE ,TRAINING NEED TO FACE CHANGE, NEW VIEW OR ORIENTATION .....AND OVERALL COMPATIBILITY.
..............................................................
3STAGE.....SURVIVAL,PROFITABILITY AND GROWTH. firm has to survive first[also applicable to any budding trader]dont take it as granted.reckless shortterm oriented decision,complacency.......quick fix idea to tackle larger root cause problem is the reason failure.
PROFIT TO BE SEEN WITH SUSTAINABILITY.PROFIT FROM CORE BUSINESS NOT BY A/C MANIPULATION.
GROWTH, PRECISELY PROFITABLE GROWTH IS AIM. IF COMPNY NOT ABLE TO GRASP OPPURTUNITY TO WIN OVER COMPETITOR,EXPANDING MARKET SHARE,DEVELOP NEW PRODUCT ........IT WILL MARGINALISE.
................................................
STRATEGIC PLANNING:VISION AND MISSION...........FUTUISTIC VIEW AND STATEMENT
CORE COMPETENCE:TANGIBLE AND INTANGIBLE ASSET COMPANY HAVE & COMPETIVE ADVANTAGE OVER OTHER COMPETITORS
VALUE : CULTURE AND ETHICS.
STRATEGIC OBJECTIVE : TARGET IDEA TO MEASURE KEY PERFORMACES LIKE MARKET SHARE, CUSTOMER LOYALTY, QUALITY SERVICE HUMAN CAPITAL ........ITS WORTHINESS
..............................................................
Business environment needs to be analyzed carefully before a strategic plan is prepared.2 environment..........remote and operating . remote environment includes .......political factor, economic factor,social factor,industry factor.OPERATING ENVIRONMENT MEANS how a company sells its product/service profitbly..........competitive position,reputation in labour market,credit worthiness,creditors view.operating environmnt is under the control of company,........where as for remote environment it has to adjust.
DURING THE PLANNING STAGE IDENTIFY KEY ISSUE.............WEAKNESS OF PRODUCT/SERVICES.........WHERE LIES OPPURTUNITY .CHANGE NEEDED IN COMPANY TO SUPPORT STRATEGY.........PRESENT SKILL AND RESOURCES.UNDERSTAND EFFECTIVE IMPROVEMNT...............some key issue r cost, service,new market,products,expansion, acquisition,organisation structure, core competence,new technology,info system.
ANY STRATEGIC PLAN ALSO MAXIMISE PRESENT RESOURCES ,SKILLS AVALABLE ,TRAINING NEED TO FACE CHANGE, NEW VIEW OR ORIENTATION .....AND OVERALL COMPATIBILITY.
STRATEGIC MANAGEMENT APPLIES TO VARIOUS LEVEL........CORPORATE LEVEL DECISIONS R MACRO AND COCEPTUAL IN NATURE ........LIKE CHOICE OF BUSINESS , GROWTH STRATEGY ,CAPITAL STRUCTURE.BUSINESS UNIT LEVEL R MORE SPECIFIC........DISTRIBUTION CHANNEL ,INVENTORY LEVEL OF A FACTORY.
..........................................................................
STRATEGIC IMPLEMENTATION................ITS THE KEY.TRANSLATE INTO ACTION.....TIMELINESS,RESOURCE NEEDED,X-FUNTIONAL COLLABORATION,DEMAND IDENTIFICATION WITH ANNUAL OBJECTIVE .
SAY ........ANNUAL OBJECTIVE IS ..........to reduce employee attrition by 10%in the end of year,to reduce time ........from order receipt to order execution by 20%.to get quality certification within 6month.
FUNCTIONAL STRATEGY: SAY FOR PRICING ...........which segment to be targeted........mass market or premium product,how much price discrimination be allowed in various customer segment......cost structure vs. actual pricing, discount factor.....for push sell,competive price or ........premium concept
..................
POLICY R THERE WITH CLEAR STATEMENT .........FOR OPERATION MANAGERS TO ENSURE DISCIPLINED DECISION MAKING WITHOUT NEED OF INTERVENTION BY TOP MANAGEMENT..............METHOD IS STANDARDISATION......WITH DEFINED ACCOUNTABILITY.
ACCOUNTABILITY AND RESPONSIBILITY GOES TOGETHER.
ANOTHER FACTOR BY INDIVIDUAL IS CONFIDENCE.HOWEVER EFFECTIVE COMMUNICATION IS KEY TO IMPLEMENT STRATEGY
........................................................
EFFECTIVE COMMUNICATION DERIVES FROM COLLECTIVE RESPONSIBILITY.......BY RATIONALISING COMPANY STRATEGY /CORPORATE STRATEGY TO STAFF LEVEL,IMPLEMENTING THE PLAN ........WHAT SHALL HAPPEN [CONSEQUENCE] IF IT FAILS
..........................................................................
STRATEGIC IMPLEMENTATION................ITS THE KEY.TRANSLATE INTO ACTION.....TIMELINESS,RESOURCE NEEDED,X-FUNTIONAL COLLABORATION,DEMAND IDENTIFICATION WITH ANNUAL OBJECTIVE .
SAY ........ANNUAL OBJECTIVE IS ..........to reduce employee attrition by 10%in the end of year,to reduce time ........from order receipt to order execution by 20%.to get quality certification within 6month.
FUNCTIONAL STRATEGY: SAY FOR PRICING ...........which segment to be targeted........mass market or premium product,how much price discrimination be allowed in various customer segment......cost structure vs. actual pricing, discount factor.....for push sell,competive price or ........premium concept
..................
POLICY R THERE WITH CLEAR STATEMENT .........FOR OPERATION MANAGERS TO ENSURE DISCIPLINED DECISION MAKING WITHOUT NEED OF INTERVENTION BY TOP MANAGEMENT..............METHOD IS STANDARDISATION......WITH DEFINED ACCOUNTABILITY.
ACCOUNTABILITY AND RESPONSIBILITY GOES TOGETHER.
ANOTHER FACTOR BY INDIVIDUAL IS CONFIDENCE.HOWEVER EFFECTIVE COMMUNICATION IS KEY TO IMPLEMENT STRATEGY
........................................................
EFFECTIVE COMMUNICATION DERIVES FROM COLLECTIVE RESPONSIBILITY.......BY RATIONALISING COMPANY STRATEGY /CORPORATE STRATEGY TO STAFF LEVEL,IMPLEMENTING THE PLAN ........WHAT SHALL HAPPEN [CONSEQUENCE] IF IT FAILS
CHANGE MANAGEMENT CONCEPT................SHARP DECLINE IN FINANCIAL PERFORMANCE..........CALLS FOR DRASTIC CHANGE ..........WITH A CLEAR VISION WHAT TO BE DONE..PREFERENCIALLY PUTTING AN OUTSIDER AS CEO.
NORMALLY PEOPLE HATE CHANGE..........hence counceling/mentoring is given to fit old workforce before retrencment.
..........................................
strategic control...................suitable midcourse corrective measure is reqd as demand of situation ,internal or external.4aspect to be seen........
1]premise control.................whether assumption made at start hold good,if they r changed.........reevaluate........change plan and act accordingly.
2]implementation control...........overall strategy to be changed in view of new scenario[external environment]...........reqd milestone review.........fullscale reassessment of strategy...........study major resource allocation.
3]strategic surveillance...............monitor broad range of event,internal /external ..........which may influence original strategic implementation.spl alert concept to quickly fix the problem ..........firms strategy in unexpected event.....contingency plan.
4]lower level control.........with set performane std vs actual performance.......identify deviation and corrective measure in it.......without involving top managment.following a budget allocated plan......however deviation to be regularised from competent authority.
.......................................................
EVALUATING AND REWARDING PERFORMANCE..............QUALITITIVE VS QUANTITIVE MEASURE,EXPECTATION VS REALITY.GIVE PRIORITY TO INDIVIDUAL WHO R READY TO LEARN,WORK TOGETHER AS TEAM.............UNDERSTAND CORE COMPETENCE.
so milestone is fixed.........and try to achieve it.,......reward must be given for good performance.
........................................
ROAD AHEAD..................CLASSICAL STRATEGIC VIEW GIVE PRIORITY ON UNDERSTANDING INDUSTRY STRUCTURE, CAPABILITY OF A FIRM IN RESPECT TO COMPETITOR.BUT PRESENT SCENARIO SUGGEST PRIORITY ON 1-2YR SHORT TERM OPPURTUNITY,.......WHICH IN NATURE BASICALLY REACTIVE.......MODERN VIEW OF .....STAY FOCUSSED.hence an intermittant view on short term,independent of long term view r called for.acronym..........FAST
FOCUS..........LONG TERM POSITIONING,SPECIALISATION AND CAPABILITY IN CHOSEN FIELD.
ACCELERATE..........moving fast in small time frame.
STRENGEN...............to move faster,building trust,appropriate quick info to act right...network,remove administrative road block to improve speed of work,
TIE ........put it all together
.....................................
SUPERIOR DECISION MAKING SKILL
1.GATHERING INFO ON REAL TIME BASIS/EARLIER THE BETTER
2. DISCUSSING WITH OPEN VIEW WITH CORE COMPETENT PEOPLE.
3. TAKE A DECISION WITHIN A STIPULATED TIME ACT ON IT.
4.KNOW WHEN TO DECIDE AND DELIBERATE AND WHEN TO FREEZE.
5.A CLEAR FIXATION OF RESPONSIBILITY
.....................................
MODERN GROWTH OF KNOWLEDGE MANAGEMENT
2IDEA...........3S VS 3P
STRATEGY,STRUCTURE ,SYSTEM ........VS,....PURPOSE PROCESS...PEOPLE.
INSTEAD OF COMPLIANCE FOCUS ON COOPERATION OF PEOPLE.
..........MUST ESTABLISH A PURPOSE WITHIN COMPANY
GIVE PRIORITY TO INTERPRENAURSHIP MINDSET .......DO DEVELOP FULL POTENTIAL WITHIN INDIVUAL, HOWEVER HARMONY WITH COMMON STRATEGIC GOAL.
SENIOR MANAGER SHOULD PLAY THE ROLE MENTOR.
....................................
study porter competitive strategy
..........understand modern concept of applied FLEXIBILTY in strucural growth of an organisation
NORMALLY PEOPLE HATE CHANGE..........hence counceling/mentoring is given to fit old workforce before retrencment.
..........................................
strategic control...................suitable midcourse corrective measure is reqd as demand of situation ,internal or external.4aspect to be seen........
1]premise control.................whether assumption made at start hold good,if they r changed.........reevaluate........change plan and act accordingly.
2]implementation control...........overall strategy to be changed in view of new scenario[external environment]...........reqd milestone review.........fullscale reassessment of strategy...........study major resource allocation.
3]strategic surveillance...............monitor broad range of event,internal /external ..........which may influence original strategic implementation.spl alert concept to quickly fix the problem ..........firms strategy in unexpected event.....contingency plan.
4]lower level control.........with set performane std vs actual performance.......identify deviation and corrective measure in it.......without involving top managment.following a budget allocated plan......however deviation to be regularised from competent authority.
.......................................................
EVALUATING AND REWARDING PERFORMANCE..............QUALITITIVE VS QUANTITIVE MEASURE,EXPECTATION VS REALITY.GIVE PRIORITY TO INDIVIDUAL WHO R READY TO LEARN,WORK TOGETHER AS TEAM.............UNDERSTAND CORE COMPETENCE.
so milestone is fixed.........and try to achieve it.,......reward must be given for good performance.
........................................
ROAD AHEAD..................CLASSICAL STRATEGIC VIEW GIVE PRIORITY ON UNDERSTANDING INDUSTRY STRUCTURE, CAPABILITY OF A FIRM IN RESPECT TO COMPETITOR.BUT PRESENT SCENARIO SUGGEST PRIORITY ON 1-2YR SHORT TERM OPPURTUNITY,.......WHICH IN NATURE BASICALLY REACTIVE.......MODERN VIEW OF .....STAY FOCUSSED.hence an intermittant view on short term,independent of long term view r called for.acronym..........FAST
FOCUS..........LONG TERM POSITIONING,SPECIALISATION AND CAPABILITY IN CHOSEN FIELD.
ACCELERATE..........moving fast in small time frame.
STRENGEN...............to move faster,building trust,appropriate quick info to act right...network,remove administrative road block to improve speed of work,
TIE ........put it all together
.....................................
SUPERIOR DECISION MAKING SKILL
1.GATHERING INFO ON REAL TIME BASIS/EARLIER THE BETTER
2. DISCUSSING WITH OPEN VIEW WITH CORE COMPETENT PEOPLE.
3. TAKE A DECISION WITHIN A STIPULATED TIME ACT ON IT.
4.KNOW WHEN TO DECIDE AND DELIBERATE AND WHEN TO FREEZE.
5.A CLEAR FIXATION OF RESPONSIBILITY
.....................................
MODERN GROWTH OF KNOWLEDGE MANAGEMENT
2IDEA...........3S VS 3P
STRATEGY,STRUCTURE ,SYSTEM ........VS,....PURPOSE PROCESS...PEOPLE.
INSTEAD OF COMPLIANCE FOCUS ON COOPERATION OF PEOPLE.
..........MUST ESTABLISH A PURPOSE WITHIN COMPANY
GIVE PRIORITY TO INTERPRENAURSHIP MINDSET .......DO DEVELOP FULL POTENTIAL WITHIN INDIVUAL, HOWEVER HARMONY WITH COMMON STRATEGIC GOAL.
SENIOR MANAGER SHOULD PLAY THE ROLE MENTOR.
....................................
study porter competitive strategy
..........understand modern concept of applied FLEXIBILTY in strucural growth of an organisation
back to basic ..........some idea of finance
..............................................................
here i shall give only name of topic .......because of time constraint
...................................................
1.basic accounting
..........debit/credit .......ledger entry.........rule of entry
3statement.........balance sheet,profit&loss, cash flow
bank reconcilation statement
2.cost a/c
................value, labour,production and profitability
abc.........activity based costing
budget concept & control
break even pt idea
3.material management
...........purchase policy guideline,abc..........fifo,lifo
4.management a/c
............depreciation,ratio analysis,tax provision,time value of money
5.investment management
..........risk management, risk /reward,risk free return ,capm,dividend return concept vs. plough back
6. corporate finance
........idea of maximization of stock value,debt vs equity,future earning forecast,constraint,understanding discounting.irr .......apm,npv
7.valuation of a company
...........dividend discounting model,cash flow discounting with future projection,relative value in market,replacement policy theory
..............................................................
here i shall give only name of topic .......because of time constraint
...................................................
1.basic accounting
..........debit/credit .......ledger entry.........rule of entry
3statement.........balance sheet,profit&loss, cash flow
bank reconcilation statement
2.cost a/c
................value, labour,production and profitability
abc.........activity based costing
budget concept & control
break even pt idea
3.material management
...........purchase policy guideline,abc..........fifo,lifo
4.management a/c
............depreciation,ratio analysis,tax provision,time value of money
5.investment management
..........risk management, risk /reward,risk free return ,capm,dividend return concept vs. plough back
6. corporate finance
........idea of maximization of stock value,debt vs equity,future earning forecast,constraint,understanding discounting.irr .......apm,npv
7.valuation of a company
...........dividend discounting model,cash flow discounting with future projection,relative value in market,replacement policy theory
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