·Identification phase

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1. Strategic Management Models: An Evaluation term planning appeared inadequate and firms began to turn their Mohammad Ahsan Ullah. Anjuman Ara Khanam. ABSTRACT A strategic management model is the representation of the structure of strategic management in combination of strategies and management activities.
2. Strategic Management - An Introduction. Strategic Management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization.
3. PDF The theories and models underpinning strategic decision-making (SDM) are somewhat eclectic that demand multidisciplinary approach and appears non-differential from decision-making (DM) theories.
4. 100 Strategic Management models and diagrams for your powerful business presentations. Content: Powerpoint, presentations, business, slides, diagrams, charts, Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising.

Jan 18, 2011  Strategic Management models and diagrams. The services, products and diagrams that the customer has received can be copied, edited, saved and used by the customer for their personal and commercial use. The customer is prohibited from providing the service, products and diagrams on professional download levels in the area of audio. From there, you will execute and track progress. After an issues-based plan has been implemented and the major issues you identified are resolved, then your organization might consider shifting to a broader, more complex strategic management model. Goal-Based Strategic Planning. Goal-based strategic planning is the reverse of issue-based. Strategic management efforts. Their input, advice, and lessons learned, both successes and failures, have been incorporated into this document so that we may all apply better strategic management processes in our organizations. Special thanks is extended to those who participated in the Case Studies by sharing the details of their strategies.

·Development phase

·Implementation phase

·Monitoring phase

The process of strategy does not have the same steps asstated by different authors. According to C.K. Prahalad, the process comprisesof 5 steps:

·Strategic Intent

·Environmental Analysis

·Evaluation of strategic alternatives and choice.

·Strategy Implementation

·Strategy Evaluation and Control

For our understanding, the process has been given in termsof the following steps:

·Strategic Intent

·Environmental & Organizational Analysis

·Identification of Strategic Alternatives

·Choice of Strategy

·Implementation of Strategy

·Evaluation & Control

STRATEGIC PROCESS IN ASINGLE SBU FIRM

STRATEGIC INTENT

Setting of organizational vision, mission and objectives isthe starting point of strategy formulation. The organizations strive for achievingthe end results which are ‘vision’, ‘mission’, ‘purpose’, ‘objective’, ‘goals’,‘targets’ etc. The hierarchy of strategic intent lays the foundation for thestrategic management of any organization. The strategic intent makes clear whatan organization stands for. It is reflected through vision, mission, businessdefinition and objectives. Vision serves the purpose of stating what anorganization wishes to achieve in long run. The process of assigning a part ofa mission to a particular department and then further sub dividing theassignment among sections and individuals creates a hierarchy of objectives.The objectives of the sub unit contribute to the objectives of the larger unitof which it is a part. From strategy formulation point of view, an organizationmust define ‘why’ it exists, ‘how’ it justifies that existence, and ‘when’ itjustifies the reasons for that existence. The answers of these questions liesin the organization’s mission, business definition, objectives & foals.These terms become the base for strategic decisions and actions.

The vision of an organization is the expectation of theowner of the organization and putting this vision into action is mission. Oftenthese terms are used interchangeably. But both are different. The dictionary meaning of mission is that,“mission relates to that aspect for which an individual has been or seems tohave been sent into the world”. Missionis relatively less abstract, subjective, qualitative, philosophical and notimaginative. Missionhas a societal orientation, It is a statement which reveals what anorganization intends to do for a society. It is a public statement which givesdirection for different activities which organizations have to carry on. Itmotivates employees to work in the interest of the organization.

The answer to the question that ‘how’ does an organizationjustify its existence is defining business of the organization. A businessdefinition is the clear cut statement of the business or a set of businesses,the organization engages or wishes to pursue in the future. It also defines thescope of the organization. An organization can face its competitors not bydoing what they do but by doing it differently. Business can be defined alongthree dimensions product, customer and technology. In whatever dimensions, itis defined, it must reflect two features:

Øfocus

Ødifferentiation

Focus of business is defined in terms of the kind offunctions the business performs rather than the broad spectrum of industry inwhich the organization operates. A sharp focus on business definition providesdirection to a company to take suitable actions including positioning of thecompany’s business.

The next feature involved in business definition isdifferentiation i.e. how an organization differentiates itself from others sothat the business concentrates on achieving superiors performance in the market. Differentiation can be onseveral bases like quality, price, delivery, service or any other factor whichthe concerned market segment values. For example, an organization can charge comparatively lower price ascompared to its competitors in the same product quality segment, then price isnot the differentiating factor. As against this, if the organization ischarging a much lower price in the same product group excluding quality, pricebecomes a differentiating factor. For example, in synthetic detergent market,HLL and Nirma provide for such a differentiation.

Once the organization mission has been determined, itsobjective, desired future positions that it wishes to reach, should beidentified. Organizational objectives are defined as ends which theorganization seeks to achieve by its existence and operation. Objectivesrepresent desired results which the organization wishes to attain. Theyindicate the specific sphere of aims, activities and accomplishments. Anorganization can have objectives in terms of profitability and productivity.Objectives provide a direction to the organization and all the divisions worktowards the attainment of the set objectives. Objectives and goals are theterms which are used interchangeably.

It is necessary for the organization to assess the processidentifying the objectives of each functional area. After accomplishment ofthese objectives, the overall objectives of the organization are achieved.Organization’s mission becomes the cornerstone for strategy. Objectives areother factors which determine the strategy. By choosing its objectives, anorganization commits itself for these.

Every organization operates within an environment. Thisenvironment may be internal or external. For conducting an environmentalanalysis, the strategic intent has to be very clear. This clarity in definitionof mission and objectives helps in the detailed analysis of the environment.Environmental analysis, also known as environmental scanning or appraisal, isthe process through which an organization monitors and comprehends variousenvironmental factors and determines the opportunities and threats that areprovided by these factors. There are two aspects involved in environmentalanalysis:

·Monitoring the environment i.e. environmentalsearch and

·Identifying opportunities and threats based onenvironmental monitoring i.e. environmental diagnosis.

Environmental analysis is an exercise in which total view ofenvironment is taken. The environment is divided into different components tofind out their nature, function and relationship for searching opportunitiesand threats and determining where they come from, ultimately the analysis ofthese components is aggregated to have a total view of the environment. Someelements indicate opportunities while others may indicate threats.

A large part of the process of environmental analysis seeksto explore the unknown terrain, the dimensions of future. The analysisemphasizes on what could happen and not necessarily what will happen. Thefactors which comprise firms environment are of two types

Øfactors which influence environment directlyincluding suppliers, customers and competitors, and

Øfactors which influence the firm indirectlyincluding social, technological, political, legal, economic factors etc.

The environmental analysis plays a very important role inthe process of strategy formulation. The environment has to be analysed todetermine what factors in the environment present opportunities for greateraccomplishment of organizational objectives and what factors present threats.Environmental analysis provides time to anticipate the opportunities and planto meet the challenges. It also warns the organization about the threats. Theanalysis provides for elimination ofalternatives which are inconsistent with the organizations objectives. Due tothe element of uncertainty, environmental analysis provides for certainanticipated changes in the organization’s network. The organization equips itself to meet the unanticipatedchanges and face the ever increasing competition.

For doing the environmental analysis, there can be thestrategic advantage profile which provides for analysis of internalenvironment, and the organization capability profile as well. For analyzing theexternal environment, environmental threat opportunity profile could beadopted. An organization has to continuously grow in term of its core businessand develop core competencies.

Through organizational analysis, the organization has tounderstand its strengths and

weaknesses. It has to identify the strengths and emphasizeon them. At the same time, it has to identify its weaknesses and unprove themor try to eliminate them. Organizational threats and opportunities, strengthsand weaknesses help in identifying the relevant environmental factors fordetailed analysis.

Therefore, after developing the strategic intent,environmental analysis becomes the next important step in the process ofstrategy formation.

2.5IDENTIFICATION OF STRATEGY ALTERNATIVE

After environmental analysis, the next step is to identifythe various strategic alternatives. After the identification of strategicalternatives they have to be evaluated to match them with the environmentalanalysis. According to Glueck & Jauch, “strategic alternatives revolvearound the question whether to continue or change the business, the enterpriseis currently improving the efficiency or effectiveness with which the firmachieves its corporate objectives in its chosen business sector” the process may result into large number ofalternatives through which an organization relate itself to the environment.All alternatives cannot be chosen even if all of these provide the sameresults. Obviously, managers evaluate them and limit themselves.

According to Glueck, there are basically four grandstrategic alternatives:

·Stability

·Expansion

·Retrenchment

·Combination

These are together known as stability strategies/ basicstrategies.

·Stability – In this, the company does notgo beyond what it is doing now. The company serves with same product, in samemarket and with the existing technology. This is possible when environment isrelatively stable. Modernization, improved customer service and specialfacility may be adopted in stability.

·Expansion – This is adopted whenenvironment demands increase in pace of activity. Company broadens its customergroups, customer functions and the technology. These may be broadened eithersingly or jointly. This kind of a strategy has a substantial impact on internalfunctioning of the organization.

·Retrenchment – If the organization isgoing for this strategy, them it has to reduce its scope in terms of customergroup, customer function or alternative technology. It involves partial ortotal withdrawal from three things. For example L & T getting out of thecement business. The objective varies from company to company.

·Combination – When all the threestrategies are taken together, this is known as combination strategy. This kindof strategy is possible for organizations with large number of portfolios.

Apart from these four grand strategies, different commonlyused strategies are given below:

·Modernization – In this , technology isused as the strategic tool to increase production and productivity or reducecost. Through modernization, the company aims to gain competitive and strategicstrength.

·Integration – The company startsproducing new products and services of its own either creating facility orkilling others. Integration can either be forward or background in terms ofvertical integration. In forward integration it gains ownership overdistribution or retailers, thus moving towards customers while in backwardintegration the company seeks ownership over firm’s suppliers thus movingtowards raw materials. When the organization gains ownership over competitors,it is engaged in horizontal integration.

·Diversification – Diversificationinvolves change in business definition either in terms of customer functions,customer groups or alternative technology. It is done to minimize the risk byspreading over several businesses, to capitalize organization strength andminimize weaknesses, to minimize threats, to avoid current instability inprofit & sales and to facilitate higher utilization of resources. Diversificationcan be either related or unrelated, horizontal or vertical, active or passive,internal or external. It is of the following types:

oConcentricdiversification

oConglomeratediversification

oHorizontaldiversification

·Joint Ventures - In joint ventures, twoor more companies form a temporary partnership ( consortium). Companies opt forjoint venture for synergistic advantages to share risk, to diversify andexpand, to bring distinctive competences, to manage political and culturaldifficulty, to take technological advantage and to explore unexplored market.

·Strategic Alliance- When two or more companiesunite to pursue a set agreed upon goals but remain independent it is known asstrategic alliance. The firms share the benefits of the alliance and controlthe performance of assigned tasks. The pooling of resources, investment andrisks occur for mutual gain.

·Mergers- It is an external approach toexpansion involving two or more than two organizations. Companies go for mergerto become larger, to gain competitive advantage, to overcome weakness andsometimes to get tax benefits. Merger takes place with mutual consent andcommon goals.

·Acquisition - For the organization whichacquires another it is acquisition and for organization which is acquired, itis merger.

·Takeovers – In takeovers, there is strongmotive to acquire others for quick growth and diversification.

·Divestment – In divestment, the companywhich is divesting has no ownership and control in that business and is engagedin complete selling of a unit. It is referred to the disposing off a part ofthe business.

·Turnaround Strategy- When the company issick and continuously making losses, it goes for turnaround strategy. It is theefforts in reversing a negative trend and it is the efforts to keep anorganization alive.

All these alternatives are available to an organization areavailable to an organization and according to its objectives, it can decide onthe one which is most suitable.

1) What isstrategic advantage profile?

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2) Select anytwo strategic alternatives and cite company examples of each.

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3) Illustrativeorganization opportunities and threats

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4) Give atleast two company examples of the following strategic alternatives

Divestment

Diversification

Takeover

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2.6CHOICE OF STRATEGY

The next logical step after evaluation of strategicalternatives is choice of the most suitable alternative. For a business group,it may be possible to choose all strategic alternatives but for a singlecompany it is quite difficult. The strategic alternatives has to be the matchedwith the problem. While making a choice, two types of factors have to beconsidered

·Objective factors

·Subjective factors

Objective factors are the ones which can be quantified whichsubjective factors are the ones which cannot be quantified and are based onexperience and opinion of people. Strategic choice is like a decisionmaking process. There are four objectiveways to make a choice:

·Corporate Portfolio Analysis

·SWOT Analysis

·Industry Analysis

·Competitive Analysis

When the company is in more than one business, it can selectmore than one strategic alternative depending upon demand of the situationprevailing in the different portfolios. It is necessary to analysis theposition of different business of the business house which is done by corporateportfolio analysis. This analysis can be done by using any of the seventechnologies given below:

ØExperience curve

ØPLC concept

ØBCG Matrix

ØGE nine cell Matrix

ØSpace Diagram

ØHofer’s product market evaluation matrix

ØDirectional Policy Matrix

In the experience curve technique, technology theexperience of the strategist enables him to decide which businesses to enter orquit.

Depending upon the stage of the product life cycle ofthe business, one can make a strategic choice for different portfolio.

Bostonconsultancy developed a matrix called BCG Matrix which is helpful tomake strategic choice. In this, the products are positioned based on variousexternal and internal factors to know the continuity, growth and discontinuingproduct. The factors given are specific in nature and attempt has been made toquantify them.

The GE Nine Cell Matrix is a matrix in which ninepositions are defined in terms of business strength factors and industryattractiveness factors. The business strength factors include market share,profit margin, ability to compete, market knowledge, competitive position,technology, and management caliber and the industry attractiveness factorinclude market size, growth rate, profit, competition, economics of scales,technology and other environmental factors. Nine cells are divided into threezones and depicted by different colours i.e. green, yellow and red. Each zoneof matrix presents a specific type of strategy or set of strategies.

The strategic position and action evaluation (SPACE)is an extension of two dimensional portfolio analysis which helps anorganization to hammer out an appropriate strategic posture. It involvesconsideration of dimensions like organization’s competitive advantage,organization’s financial strength, environmental stability etc. Various SPACEfactors are measured in terms of degrees, often quantified from 0 to 5 with 0in indication most unfavourable and 5 indicating most favourable. On basis offour dimensions organization can choose its strategy.

Hofer and Schendel suggested the product marketevaluation matrix. They constructed a 15 cell matrix taking competitive positionand stages of product / market evolution dimensions.

The directional policy matrix was developed by shellchemicals, U.K.It used two dimensions – business sector prospects and company’s competitivecapabilities to choose strategies. Each dimension is further divided intounattractive, average and attractive (for business sector prospects) and weak, average and strong (forcompany’s competitive capabilities. Each quadrant shows a different strategywhich the organization may adopt.

·Competitor Analysis

In this analysis, we try to assess what the competitor hasand what he does not have. We exploreeverything with respect to the competitor. In competitor analysis, focus is onexternal environment as one of the components of external environment is thecompetitor. The difference between SWOT analysis and competitor analysis isthat in competitor analysis we are concerned with only one component of theenvironment i.e. competitor while in SWOT analysis we take about all thefactors of the environment.

·Industry Analysis

In industry analysis, all the competitors belonging to theparticular industry with which the organization is associated are looked at.All the members of the industry are considered as a whole. In competitiveanalysis, only the major competitors are assessed while in industry analysis all thecompetitors belonging to the industry are looked at.

The strategic choice is a decision making process whichlooks into the following steps:

·Focussing on strategic alternatives

·Evaluating strategic alternatives

·Considering decision factors – objective factorsand subjective factors.

·Finally, making the strategic choice.

1) Explain theBCG matrix

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2) Discussbriefly GE Nine Cell matrix.

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3) Explain theuse of PLL concept in choice of strategy.

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2.7 IMPLEMENTATIONOF STRATEGY

After the evaluation of the alternatives, the choice ofstrategy is made. This choice now needs to be implemented i.e. strategy is nowput into action. This step of strategy process is the implementation step. Thisincludes the activation of the strategic alternatives chosen. Strategy makingand strategy implementation are two different things. Strategy making requiresperson with vision while strategy implementation requires a person withadministrative ability. If the strategy made is not implemented properly thenthe objectives would be lost. Strategy implementation is as good as starting anew business. The stage requires looking at the problems and eliminating them.In strategy implementation, one has to pass through different steps:

ØProject Implementation

ØProcedural Implementation

ØResource Allocation

ØStructural Implementation

ØFunctional Implementation

ØBehavioural Implementation

Project implementation is a comprehensive plan ofaction from acquiring land to the installation of machinery within a timeframe.

Procedural implementation takes place by followingthe “Law of the Land” i.e. the rules and regulation in terms of wastage cost,utility etc. It involves completing all those procedural formalities that havebeen prescribed by the governments both central and state. A procedure is aseries of related tasks that make up the chronological sequence and theestablished way of performing the work to be accomplished. Proceduralimplementation involves different steps. These steps vary from industry toindustry. Also these may change as per the changes in the government policies.The major procedural requirements are

·Licensing Requirements

·FEMA Requirements

·Foreign Collaboration Procedure

·Capital Issue Requirements

·Import and Export requirements

·Incentives and benefits

After procedural implementation there comes resourceallocation. The organization has toallocate resource both inside the company and outside the company. It has tomake decisions regarding short term and long term allocation. The problemsassociated with resource allocation is the problem involved in to process. Theproblems emerge because:

·Resources are limited

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·There are competing organizational units witheach trying to have the major portion.

·Organization’s past commitment.

The structural implementation of strategy involves designing of theorganization structure and interlinking various units and sub units of theorganization. It involves issues like

·How the work of the organization will be divided

·How will the work be assigned among variouspositions, groups, department, divisions, etc.

·The coordination among these for achivement oforganizational objectives.

There are basically two aspects

·Differentiation and

·Integration

Differentiation refers to, “the differences incognitive and emotional orientations among managers in different functionaldepartments.”

Integration refers to, “the quality of the state ofcollaboration that are required to achieve unity of efforts in theorganization.”

The organization has to emphasize on both aspects andtherefore, it must design organization structure and provide systems forintegration and coordination among organization’s parts and members.

Functional implementation deals with the developmentof policies and plans in different areas of functions which an organizationundertakes. The major functions of the organization include

·Production

·Marketing

·Finance

·Personnel

Each and every function makes its own policies and plans intune with the whole organization’s strategy and then implements to fulfill theobjectives. For example, the production function may involve decisions relatingto size and location of plants, technology to be used, cost factor, productioncapacity, quality of the product, research and development etc. Similarlymarketing function may include the decisions relating to type of products,price of products, product distribution and product promotion.

The financial function deals with decisions like sources offunds, usage of funds and management of earnings. Likewise, the majorconsideration in personnel policies include recruitment of right personnel,development of personnel, motivation system, retaining personnel, personnelmobility, industrial relations etc.

Behavioural implementation deals with those aspectsof strategy implementation that have impact on behaviour of people in theorganizations. Since human resources form an integral part of the organizationtheir activities and behaviour need to be directed in a certain way. Anydeparture may lead to the failure of strategy. The five issues in this contextrelevant to strategy implementation are:

·Leadership

·Organization Culture

·Values and Ethics

·Corporate Governance, and

·Organizational Politics

2.8 EVALUATION AND CONTROL

This is the last step of the strategy making process. Thisis an ongoing process and evaluation and control have to be done for futurecourse of action as well. To get successful results and to achieveorganizational objectives, there has to be continuous monitoring of the implementation of strategy. Theevaluation and control of strategy may result in various actions that theorganization may have to take for successful well being, such actions mayinvolve any kinds of corrective measures concerned with any of the stepsinvolved in the whole process be it choice for setting mission or objectives.The process of strategy formulation is considered as a dynamic process whereincorrective actions are taken and change is brought in any of the factorsaffecting strategy.

Evaluation of strategy is done by the top managers to determinewhether their strategic choice is implemented in a manner that it is meetingthe organization’s objectives.Evaluation emphasizes measurement of results of a strategic action. On theother hand, control emphasizes on taking necessary action in the light of gapthat exists between intended results and actual results in the strategicaction.

When evaluation and control is carried out efficiently, itcontributes in three basic areas:

·Measurement of organizational process.

·Feedback for future actions, and

·Linking performance and rewards.

The board of directors, the chief executive and othermanagers all play a very important role in strategy evaluation and control.Control can be of three types:

ØControl of inputs that are required in anaction, known as feed forward control

ØControl at different stages of action process,known as concurrent control

ØPast action control based on feedback fromcompleted action known as feedback control

Control is exercised by mangers in the form of four steps:

ØSetting performance standards

ØMeasuring actual performance

ØAnalyzing variance

ØTaking corrective actions

After evaluation and control, the strategy process continuesin an efficient manner. The effectiveness could be assessed only when thestrategy helps in the fulfillment of organizational objectives.

2.9 SUMMARY

A good strategy is one which helps in the accomplishment ofthe organization’ s objectives. The first step, therefore, is the developmentof strategic intent i.e. the setting of organizational mission and objectives.After this, the organization has to assess its environment external to it andwhich affects its strategy. It has to assess the opportunities and threats inthe environment. Alongwith the environmental analysis, the organization has togo for an organizational analysis as well, through which it assess its ownstrengths and weakness and then incorporates them in the strategy beingformulated. It becomes necessary for the organization to identify the variousstrategic alternatives and choose from them the one which is most compatiblewith the organizational objectives. The strategic choice has to be implementedin a manner that the organization’s culture and structure support theimplementation. After implementing the strategy, strategic evaluation andcontrol is carried out so that the firm is successful in meeting itsobjectives.

1) Discussbriefly the issues relating to procedural implementation

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2) How doesstructure influence strategy.

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3) Discuss thebehavioural implementation.

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4) Narrate theprocess of strategic evaluation and control.

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2.10KEY WORDS

STABILTY: Strategyin which the company serves the same product in same market and with existingtechnology.

EXPANSION: Strategy in which company broadens itscustomer groups, customer function and the technology.

RETRENCHMENT: Strategy in which organization has toreduce its scope in terms of customer group, customer functions or alternativetechnology.

DIVERSIFICATION: is a growth strategy which involvesadding of new products or services to existing ones.

STRUCTURE: isthe configuration of resources used by management to coordinate the activitiesof the organization so that the objectives can be achieved.

DIVERSIFICATION – Diversification involves change inbusiness definition either in terms of customer functions, customer groups oralternative technology.

MERGERS- It is an external approach to expansioninvolving two or more than two organizations.

ACQUISITION - For the organization which acquiresanother it is acquisition and for organization which is acquired, it is merger.

TAKEOVERS – In takeovers, there is strong motive toacquire others for quick growth and diversification.

DIVESTMENT – In divestment, the company which isdivesting has no ownership and control in that business and is engaged incomplete selling of a unit. It is referred to the disposing off a part of thebusiness.

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TURNAROUND STRATEGY- When the company is sick andcontinuously making losses, it goes for turnaround strategy. It is the effortsin reversing a negative trend and it is the efforts to keep an organizationalive.

2.11SELF ASSESSMENT QUESTIONS

Strategic Management Models And Diagrams Pdf

1) Describethe process of strategy formulation.

2) Whatare the various strategic alternatives? Give example of each

3) Whatare the various ways to make a strategic choice?

4) Howdoes an organization go about in implementing strategy?

5) Howis control exercised in process of strategy.

2.12FURTHER READINGS

GHOSH, P.K., I.C. DHINGRA, N. RAJANNAIR and K.P. MANI, “Advanced Management Accounting StrategicManagement”, Sultan Chand & Sons, New Delhi, 1997

PRASAD, L.M., 2002, “BusinessPolicy: Strategic Management”, Sultan Chand & Sons, New Delhi.

SHRIVASTAVA, R.M., “Management Policy and Strategic Management:Concepts, Skills and Practices, HimalayaPublication House, Mumbai, 1999

MAMORIA, C.B., SATISH MAMORIA andDr. P. SUBBA RAO, 2001, “ Business Planning and Plicy”, HimalayaPublishing House, Mumbai, 2001

KAZMI, AZHAR, “Business Policy andStrategic Management”, Tata Mcgraw Hill Publishing Co, Ltd., New Delhi, 2002.

GHOSH, P.K., “ Business PolicyStrategic planning and Management ”, Sultan Chand & Sons, New Delhi 1996

KAZMI, AZHAR, “Business Policy andStrategic Management”, Tata Mcgraw Hill Publishing Co, Ltd., New Delhi-2002.

DRUCKER, P.F. “Management TaskResponsibilities and Practices” , Harper & Row, New York, 1974.

MILLER A. and G. G. Den “ Strategic Management” Mcgrawhill, New York1996

PRASAD, L.M., 2002, “Business Policy:Strategic Management”, Sultan Chand & Sons, New Delhi.

GLUECK WF and LR Iavch, “BusinessPloicy and Strategic Management” Mc graw Hill, New York 1984.

THOMPSON J.L. “StrategicManagement: Awareness and Change”, International Thompson Business Press, London 1997.

SHRIVASTAVA, R.M., “ CorporateStrategic Management”, PragatiPrakashan, Meerut,1995.