4 What is SWOT analysis in terms of Internal & External Analysis? Explain SWOT analysis in the form of a matrix?
Answer:-
ETOP and EFEM focus only on the opportunities and threats from the environment. But, to exploit an opportunity or to consider a threat, a company should have required strengths or competence. A company also needs to know its weaknesses in terms of competence, because weaknesses may affect its capability to take advantage of an opportunity or negotiate a threat. So, simultaneously with environmental analysis orappraisal, organizations also need to assess their internal strengths and weaknesses. This is done through SWOT analysis.
3 What is a mission statement? Differentiate between a mission statement and a vision statement.
- Mission Statement Differences
Answer:-
Peter Drucker—‘A business is not defined by its name, statutes or articles of incorporation. It is defined by the business mission. Only a clear definition of the mission and the purpose of the organization make possible clear and realistic business objectives.’
5 Define corporate turnaround? Distinguish between surgical and nonsurgical turnaround. Explain with some examples?
Answer:-
Corporate turnaround may be defined as organizational recovery from business decline or crisis. Business decline for a company means continuous fall in turnover or revenue, eroding profit, or accrual or accumulation of losses. So, business or organizational decline, like business performance, is understood in relative terms, that is, compared with the past. But, some strategy analysts describe business decline in terms of current comparisons also; for example, relative to industry rates or averages or even relative to economic growth of the country. Corporate crisis means deepening or perpetuation of a decline
6 What are the major characteristics of an effective strategy evaluation system? Analyse these characteristics.
Answer: –
The strategy evaluation and control is an elaborate, and, at times, complex, process. It can also be a sensitive process because of the human factor involved. Too much or too rigorous evaluation and control may be expensive and, sometimes counterproductive also—authority and flexibility may be challenged, minimized or even eliminated.
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