Question1. Firms frequently compete with each other to raise the number of their customers’ attention and business. While doing so, each firm tries to chalk out its unique policy or game plan. Strategic Planning and Strategic Management facilitate a firm to formulate and implement such winning game plans.
i) Illustrate the term Strategic Planning.
ii) Describe the advantages of Strategic Planning?
iii) What are the pitfalls of the Strategic Planning?
iv) Write concise notes on each of three levels of Strategic Planning.
Question2. Strategic Management is recently the core of the business policy discipline everywhere.
i) Illustrate the term Strategic Management.
ii) Write concise notes on the four significant elements of the Strategic Management.
Question3. Current days no business enterprise can thrive on profit motive alone for long and if it has to succeed, business should be conscious and alive to its social responsibility too. What are the factors which have contributed to the rising concern of business for welfare of society? Write concise notes of each one of them.