1.a.Explain the Nature of Political, Economic, Social and Technological Forces.
ID: 2585004 • Letter: 1
Question
1.a.Explain the Nature of Political, Economic, Social and Technological Forces. Under External Environment Ansoff's Product/Market Growth Matrix.
Portfolio Analysis Model
Market Entry Strategies
b. Explain Porter's Five Forces Model and its Strategic Implications.
c.Corporate and Business level Strategies. List at least 4 of the strategies and explain.
d.what is Value chain Concept and explain the activities under the value chain .
RBV X'tics.
2.a.The 4 perspectives of the BSC. And Limitations of BSC.
b. explain Porter's Six Entry Barriers
c. what are Benefits of Strategic planning
d. what are the characteristics of resource base valuables.
3.a.what are the Criteria for Ethical Decision Making
b. what are the Models of Corporate Governance
c.State the Role of BOD & Audit Commitee in an organization
d. what is Corporate Social responsibility, the benefits and its limitations.
Explanation / Answer
Solution 3:
(a) An individual can use three different criteria in making Ethical Decision.They are as follows:-
(i) The first one is the utilitarian criterion in which decisions are solely made on the basis of their outcomes or consequences. The goal of utilitarianism is to provide the greatest good for the greatest number. It is consistent with goals like profitability, productivity and efficiency.
(ii) The second ethical criterion is to focus on rights. This calls on individuals to make decisions consistent with fundamental liberties and privileges as set forth in documents such as the Bill of rights. An emphasis on rights in decision making means respecting and protecting the basic rights of individuals.
(iii) The third ethical criterion is to focus on justice. This requires individuals to impose and enforce the rules fairly and impartially so that there is an equitable distribution of costs and benefits.
(b) The Models of Corporate Governance are:-
(i) Anglo-US Model
(ii) Japanese Model
(iii) German Model
(c) The role of BOD are as follows:-
(i) Establish mission, vision and values
(ii) Set strategy and structure
(iii) Delegate to management
The role of Audit Committee are as follows:-
(i) Role in oversight of financial reporting and accounting
(ii) Role in oversight of external auditor
(iii) Role in oversight of regulatory compliance
(iv) Role in monitoring the effectiveness of internal control process and of the internal audit
(v) Role in oversight of risk management
(d) Corporate Social Responsibility (CSR) is a corporation's initiative to access and take responsibility for the company's effects on environmental and social well-being. It promotes positive social and environmental change.
The benefits of CSR are as follows:-
(i) Better Brand recognition
(ii) Positive Business reputation
(iii) Increased sales and customer loyalty
(iv) Operational Costs savings
(v) Better financial performance
(vi) Easier access to capital
(vii) Organisational growth
The limitations of CSR are as follows:-
(i) Shift from the profit-making objective
(ii) Company's reputation takes a hit
(iii) Customer conviction
(iv) Increase in cost of production
Solution 2:
(a) The Four perspectives of the BSC are as follows:-
(i) Financial perspective
(ii) Customer perspective
(iii) Internal Business Process perspective
(iv) Learning and Growth perspective
The limitations of the BSC are as follows:-
(i) BSC turns out to be an imperfect and imbalance score card as it approaches to analyse only the 4 perspective only.
(ii) BSC is a vague concept and approach, to control an organisation success; as there is neither any set of standard goals nor any set of standard performance measure.
(iii) BSC just considers organisational performance from the four perspective.
(b) Porter' Six Entry Barrier:
(i) Economies of scale: It occurs when the unit cost of the product declines as production volume increases.when the existing competitors in an industry achieved the Economies of scale, it acts as a barrier by forcing new entrants to either compete on a large scale or accept a cost disadvantage in order to compete on a small scale.
(ii) Product Differentiation: In many industries, established competitors have gained customer loyalty and brand identification through their long-standing advertising and customer service efforts. This create a barrier to market entry by forcing the new entrants to spend time and money to differentiate their product in the marketplace and overcome these loyalties.
(iii) Capital Requirements: Another type of barrier to market entry occurs when the new entrants are required to invest large financial resources in order to compete in an industry.
(iv) Switching Costs: It refers to a one-time cost that is incurred by a buyer as a result of switching from one supplier's product to another's.
(v) Access to Channels of distribution: In many industries, established competitors control the logical channels of distribution through long standing relationships. In order to persuade distribution channels to accept a new product, new entrants must often provide incentives in the form of price discount, promotion etc. Such incentives act as a barrier by reducing the profitability of the new entrants.
(vi) Government policy: The government policy can limit or prevent new competitors from entering industries through licensing requirements, limit on access of raw materials, pollution standards etc.
(c) The benefits of strategic planning are as follows:-
(i) It allows the Organisations to be proactive rather than reactive.
(ii) It sets up a sense of direction.
(iii) It increases Operational efficiency.
(iv) It helps to increase market share and profitability.
(v) It can make a business more durable.
(d) The characteristics of resource base valuables are as follows:-
(i) Valuable: when resources are able to bring value to the firm they can be source of competitive advantage.
(ii) Rare: Resources have to deliver unique strategy to provide competitive advantage to the firm as compared to competing firms.
(iii)Non-substitutable: Resources should not be able to be replaced by any other strategically equivalent valuable resources.
(iv) Inimitable: Resources can be sources of sustained competitive advantage if competing firms cannot obtain them.
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