Advanced Strategic Management

Advanced Strategic Management
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Advanced Strategic Management

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Introduction Nature and Scope of Corporate Management Corporate Planning Implementation of Corporate Plan Review and Evaluation of Corporate Plan Approaches to Corporate Management Strategists and their role in Corporate Management Need for Corporate Management Corporate Management in Non Business Organisations Summary Key Words SelfAssessment Questions Further Readings
1.1
INTRODUCTION
Though corporate planning has been widely used in the United States and some other European Countries for the last thirty five years or so, there seems to be scant use of the term Corporate Management . Corporate management is a broad phenomenon and covers a wide spectrum of activities. In the context of strategic management, the term has three dimensions
Corporate planning Implementation of corporate plans Evaluation and control of corporate plans. 1
On the academic side, research on corporate management has not taken off in India. However, a few studies may be seen with respect to corporate planning. 1.2
NATURE AND SCOPE OF CORPORATE MANAGEMENT
For the sake of convenience, the concept of corporate management has moved through five paradigm shifts as narrated below Adhocism- when the exigency used to force the mangers to take appropriate action to deal with situation. This continued till 1930. Planned Policy- the great depression forced the planners and thinkers to have a planned policy. Unforeseen incidents and contingencies are to be anticipated. Environment Strategy Interface- the strategy has to cope with environment. The forces of internal and external environment have created uncertainties. In order to cope with such situation, appropriate strategies are being formulated keeping in mind the competitive advantage. Corporate Planning- involves moving ahead from environmental appraisal to strategic alternatives and choice. The planning needs to be strategic. Corporate Management- aspects of implementation and control are also considered in