Sample Solved Assignment Jan-June2017 - MS-91

Course Code MS - 91 Course Title Advanced Strategic Management Assignment Code 91/TMA/SEM - I/2017 Assignment Coverage All Blocks

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School of Management Studies INDIRA GANDHI NATIONAL OPEN UNIVERSITY

MAIDAN GARHI, NEW DELHI – 110 068

1. a) Discuss the nature and process of corporate planning. Nature- Corporate planning defines the ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and procedures. As with business planning, strategic planning requires a close look at the company’s ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------steps the staff will take to counteract challenges, train employees and achieve --------------------------------------------------------- with realistic time lines.

Corporate planning is a process used by -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- or entire departments -- devoted to performing the planning function, small business owners can become ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ plan.

Effective planning requires gathering ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. The small business owner also must identify the best opportunities for his company to pursue. He ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, which may include revenue targets and productivity goals such as the ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------will take to reach company goals.

Process- The ------------------------------------------------- the following steps: (i) Formulation --------------------------------------- intent. Strategic intent is a high-level ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. Simply put, a strategic intent is your company's vision of what it wants to achieve in the long term. In complexity science's terms, strategic intent is decomposition of exploration rules into the next level of detail, the linkages to the ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, uniqueness and discovery that make your strategic intent come to life are vitally important for employees. They have to understand, believe and live according to it. Strategy should be a stretch exercise, not a fit exercise------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------through time and space. (ii) Environmental ----------------------------------------- For finding business's available ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------are the main stages involved in environment appraisal. 1st Stage: Factors ---------------------------------- Appraisal Following ---------------------------------------------------------- appraisal a) ---------------------------------------- environment b) ------------------------------------------------- Organisation c) Factors Relating to ------------------------------------- Policy makers play important ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------will affect the environmental appraisal. 2nd Stage: ------------------------------------------------------- Factors In second stage we --------------------------------------------------------------- basis of following issue

a) Critical ------------------------------------ b) High -------------------------------- Issues c) Low ------------------------------------ Issues 3rd Stage: ---------------------------------------------- Appraisal This is the third stage of environmental appraisal. In this stage, we create the structure of environmental appraisal. One side of structure will be our str------------------------------------------------------------------------------------------------------------------------------------------------------------------- of business. (iii) Generation ----------------------------- alternatives. In order to -------------------------------------------------------------------------------------------------------------------------------------------------------------------use to stimulate your creativity:

Driving Force- Every -------------------------------------------------------------------------------------------------------------------------------------------------------------------, you will generate a radically different strategies.

“What If?” game- What if you -------------------------------------------------------------------------------------------------------------------------------------------------------------------in new directions.

Competitive asymmetries- Any of the areas -------------------------------------------------------------------------------------------------------------------------------------------------------------------design your whole business around extending and leveraging it

36 Stratagems- The Thirty-Six -------------------------------------------------------------------------------------------------------------------------------------------------------------------them to your own situation.

Profit Zones- There are a limited ----------------------------------------- these patterns can you exploit for your business?

(iv) Evaluation ----------------------------------------------. While evaluating -------------------------------------------------------------------------------------------------------------------------------------------------------------------. Quantitative Factors:

The quantitative factors are -------------------------------------------------------------------------------------------------------------------------------------------------------------------tangible in nature.

Qualitative Factors: The -------------------------------------------------------------------------------------------------------------------------------------------------------------------satisfaction, etc.

The management must ------------------------------------------------------------------------ factors. For e.g. An excellent production plan could not -------------------------------------------------------------------------------------- of machines, etc. (v) Decisions in ---------------------------------------------------------- and programmes.

It is a continuous process of -------------------------------------------------------------------------------------------------------------------------------------------------------------------out these decisions.

========================================================================================== b) Select a company of your choice and explain the behavioral implementation of corporate plan discussing details of the company.

The organization I am referring to is -------------------------------------------------------------------------------------------------------------------------------------------------------------------technology (IT) services, business solutions and consulting company headquartered in Mumbai, Maharashtra. -------------------------------------------------------------------------------------------------------------------------------------------------------------------Exchange and the National Stock Exchange of India. It is one of India's most valuable -------------------------------------------------------------------------------------------------------------------------------------------------------------------by employee count as well. TCS and its subsidiaries provide a -------------------------------------------------------------------------------------------------------------------------------------------------------------------planning; consulting; enterprise software; hardware sizing; payment processing; software management; and technology education services.

The corporate planning which TCS adopted is as follows-

1. Financial --------------------------------------------- planning- A Tata company shall prepare and -------------------------------------------------------------------------------------------------------------------------------------------------------------------, standards, laws and regulations of the country in which the company conducts its business affairs. Internal accounting and audit -------------------------------------------------------------------------------------------------------------------------------------------------------------------be accessible to company auditors and other authorized parties and government agencies. There shall be no willful ------------------------------------------------------------------------------------------------------------------------------------------------------------------- account and funds.

2. Planning ------------------------------- Competition- A Tata company shall fully -------------------------------------------------------------------------------------------------------------------------------------------------------------------and judicious liberalization of trade and investment by a country. Specifically, a Tata company shall -------------------------------------------------------------------------------------------------------------------------------------------------------------------trade practices. A Tata company shall market its -------------------------------------------------------------------------------------------------------------------------------------------------------------------of competitive information shall be made only in the normal course of business and shall be obtained only through legally permitted sources and means.

3. Equal ------------------------- Employer A Tata company shall provide -------------------------------------------------------------------------------------------------------------------------------------------------------------------, marital status, sex, age, nationality, disability and veteran status. Employees of a Tata company shall be treated with dignity and in accordance with the Tata policy to maintain a work environment free of sexual harassment, -------------------------------------------------------------------------------------------------------------------------------------------------------------------opportunity is provided to those eligible and the decisions are merit-based.

4. Planning ------------------------------ and Donations

A Tata company and its -------------------------------------------------------------------------------------------------------------------------------------------------------------------benefits that are intended to, or perceived to obtain business or uncompetitive -------------------------------------------------------------------------------------------------------------------------------------------------------------------commemorative nature for special events.

5. Planning for Government Agencies A Tata company and its employees shall not off er or give any company funds or property as donation to any government agencies or their representatives, directly or through intermediaries, in order to obtain any favourable performance of official duties.

6. Planning -------------------------- and Environment

A Tata company shall strive to -------------------------------------------------------------------------------------------------------------------------------------------------------------------of the territory it operates in. A Tata company shall be committed to prevent the wasteful use of natural resources and minimise any hazardous impact of the development, production, use and disposal of any of its products and services on the ecological environment.

7. Public --------------------------------- and the Group A Tata company honours the -------------------------------------------------------------------------------------------------------------------------------------------------------------------constituencies such as the media, the financial community, employees and shareholders, a Tata -------------------------------------------------------------------------------------------------------------------------------------------------------------------to disclose information on the company.

8. Planning for Shareholders A Tata company shall be -------------------------------------------------------------------------------------------------------------------------------------------------------------company shall duly and fairly inform its shareholders about all relevant aspects of the company’s business and ------------------------------------------------- regulations and agreements.

9. Planning ---------------------------- Compliance

Every employee of a Tata -------------------------------------------------------------------------------------------------------------------------------------------------------------ethical and professional standards set out in the applicable laws and regulations are below that ----------------------------------------- the code shall prevail.

10. Planning -------------------------------- Employment An employee of a Tata -------------------------------------------------------------------------------------------------------------------------------------------------------------or a director) with any other company, nor provide “freelance” services to anyone. In the case of a whole-time ------------------------------------------- the board of directors of the company.

11. Conflict ---------------------------- An employee of a Tata -------------------------------------------------------------------------------------------------------------------------------------------------------------of interest, actual or potential, may arise where, directly or indirectly, (a) An employee of a Tata ------------------------------------------------ to a transaction with his company, (b) An ------------------------------------------------- by making or influencing decisions relating to any transaction, and (c) An independent judgement of the ---------------------------------------------------------- exercised.

12. Securities --------------------------------------- Information An employee of a Tata company and his immediate family shall not derive any benefit or assist others to derive any benefit from the access to and possession of -------------------------------------------------------------------------------------------------------------------------------------------------------------not use or proliferate information which is not available to the investing public and which therefore ----------------------------------------------------------------------------------- on the securities of the respective Tata company on which such insider information has been obtained.

2. Discuss the issues which result in bad Corporate Governance citing examples. What measures should be taken to correct such failures. Corporate governance broadly refers to the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures -------------------------------------------------------------------------------------------------------------------------------------------------------------, creditors, auditors, regulators, and other stakeholders) and include the rules and procedures for making decisions in corporate affairs. Corporate governance includes the processes through which corporations' objectives are set -------------------------------------------------------------------------------------------------------------------------------------------------------------of corporations, their agents, and affected stakeholders. Corporate governance practices are affected by attempts to align the interests of stakeholders.

Factors ------------------------------------------ governance 1. The ownership structure- The structure -------------------------------------------------------------------------------------------------------------------------------------------------------among individual and institutional shareholders as in the US and UK or can be concentrated in the hands of a few -------------------------------------------------------------------------------------------------------------------------------------------------------. Our corporate sector is characterized by the co-existence of state owned, private and -------------------------------------------------------------------------------------------------------------------------------------------------------, the shares are held by

(1) The ------------------------------------------------- institutions (2) Institutional investors, comprising ----------------------------------------------------------------------------corporations (3) Corporate ------------------------------------------------------ (4) ----------------------------------------------------------------- their relatives and (5) Foreign investors. Apart from these ------------------------------------------------------------- by small investors. 2. The ----------------------------- boards- Along with the structure of ownership, the structure of company boards has considerable influence on the way the companies are --------------------------------------------------------------------------------------------------------------------------------------------------------------------level executives to carry out those objectives and policies.

3. The financial structure- Along -------------------------------------------------------------------------------------------------------------------------------------------------------between debt and equity, has implications for the quality of governance. 4. The i------------------ environment- The legal, regulatory, and political environment within which a company operates determines in large measure the quality of -------------------------------------------------------------------------------------------------------------------------------------------------------. For example, the extent to which shareholders can control the management depends on their voting right as defined in the Company Law, the extent to which creditors will be able to exercise financial claims on a bankrupt unit will depend on bankruptcy laws and procedures etc. Systemic ---------------------------------------------- governance Demand for information: A barrier to -------------------------------------------------------------------------------------------------------------------------------------------------------hypothesis (in finance, the efficient market hypothesis (EMH) asserts that financial markets are efficient), -------------------------------------------------------------- professional investors. Monitoring costs: In order to -------------------------------------------------------------------------------------------------------------------------------------------------------resolutions or appointing directors at a general meeting. Supply of ---------------------------- information: Financial accounts form a crucial link in enabling providers of finance to monitor directors. Imperfections in the -------------------------------------------------------------------------------------------------------------------------------------------------------of the external auditing process. However, the long------------------------------------------------------------------------------ in many corporate failures was:

Poorly ------------------------------------------------------- package

Including ------------------------------------------------------------------------------------------------ towards the short term)

The use of -------------------------------------------------------------------------------------------------------------------------------------------------------share prices)

Trading did not deliver the earnings targets, aggressive or even fraudulent accounting tended to occur. This was very apparent in the cases of Ahold-------------------------------------------------------------------------------------------------------------------------------------------------------appear to meet analysts' expectations. Some of the better known cases of financial irregularities are summarised in following table.

Company Country What went wrong ------- ----- earnings overstated Enron --------- inflated --------------------------------- in SPEs -------- Italy false --------------------------------- Tyco USA looting by ------------------------------------------------------------------ business records -------- --------- -------------------------------------------------------------- expenditure Xerox USA accelerated ----------------------------------- Examples-

1. ---------------------------------------- at Enron- EVERY time you turn -------------------------------------------------------------------------------------------------------------------------------------------------------to wonder if there is anything in our systems and structure of an enterprise that can prevent such a catastrophe.

Enron is an excellent example where those at the top allowed a culture to flourish in which secrecy, rule-breaking and fraudulent behaviour were acceptable. It appears that -------------------------------------------------------------------------------------------------------------------------------------------------------Enron had all the structures and mechanisms for good corporate governance. In addition, it had a corporate social responsibility task force and a code of conduct on security, human rights, social

investment and public engagement. Yet no -------------------------------------------------------------------------------------------------------------------------------------------------------purpose entities (SPEs); the audit committee allowed suspect accounting practices and made no attempt to examine the SPE transactions; the auditors failed to prevent questionable accounting. The use of questionable ------------------------------------------------------------------------------------------------ by the auditors arose from a variety of forces, including:

Pressure to meet ----------------------------------------------------------------------- of the 1990s Executive -------------------------------------------------------------- practices Outdated and rules-based -----------------------------------------------------------------------------------------------

--------------------------------------------------------independence of public accounting firms.

2. Corporate --------------------------------------------------- Wal-Mart- It has co-filed a -------------------------------------------------------------------------------------------------------------------------------------------------------, head of governance and sustainable investment.

Despite -------------------------------------------------------------------------------across its US business.

'Weaknesses in -------------------------------------------------------------------------------employer and are adding fuel to the fires of Wal-Mart's critics.

Its failure to deliver on these policy commitments is inhibiting Wal-Mart's ability to expand into new domestic markets.

Over 'the past -------------------------------------------------------------------------------controls that have led to government investigations and class action lawsuits by employees.

Allegations include -------------------------------------------------------------------------------shifts -- systematic

discrimination against women, and -------------------------------------------------for union representation.

It got off to a ------------------------------------------------------------------------independent directors on the audit committee. But when this simply withered on the vine, ------------------------------------------------------------------------about internal controls, labour ------------------------------------------------------------------------.

Company was not ------------------------------------------------------------------------and supports a compliance

culture and, as a result, they ------------------------------------------------------------------------York City Employees' Retirement System to file a shareholder proposal.

Top Ten ----------------------------------------------- Governance

1-------------------------------- is not just about compliance- Boards need to balance conformance (i.e. compliance with legislation,

regulation and codes of practice) ------------------------------------------------------------------------of the

organisation through strategy ------------------------------------------------------------------------to elaborate its position and understanding of the major ------------------------------------------------------- These specifics will vary from board to board. Knowing the role of the ------------------------ maintaining a good relationship between the board and management. 2. Clarify the ---------------------strategy- It is generally accepted today that the board has a significant role to play in the

formulation and adoption of the organisation’s -------------------------------------------------------------------------------------------------------------------------------------------------for it to undertake and clarify this understanding with management. 3. Monitor ----------------------- performance- Monitoring organisational performance is an essential board function and ensuring legal compliance is a major aspect of the board’s monitoring role. It ensures that corporate decision making is consistent

with the strategy of the organisation and with owners’ -------------------------------------------------------------------------------------------------------------------------------------------------, the directors should establish an agreed format for the reports they monitor to ensure that all matters that should be reported are in fact reported. 4. Understand --------------------- the CEO- In most cases, one of the major functions of the board is to appoint, review, work

through, and replace (when necessary), the CEO--------------------------------------------------------------------------------------------------------------------------and management’s role in achieving corporate objectives. 5. Recognise that the ------------------- responsibility- Establishing ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- supports better decision making because it develops a deeper insight into the risk-reward trade-offs that all organisations face. 6. Ensure the ------------------------ they need- Better information means ------------------------------------------------------------------------------------------------------------------------------------------------------------------------do not all have the same informational requirements, since they differ in their knowledge, skills, and experience. Briefings, presentations, site visits, individual director development programs, and so on can ------------------------------------------------------------------------------------------------------------------------------------------------------------------------policy is recommended. 7. Build and maintain ----------------- infrastructure- Since the board is ultimately responsible for all the actions and decisions of an organisation, it will need to have in ------------------------------------------------------------------------------------------------------------------------------------------------------------------------important for the board to develop policies in relation to delegations. Also, under this topic are processes and procedures. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------in a high level of dissatisfaction among directors. Enhancements to board meeting processes, ------------------------------------------------------------------------------------------------------------------------------------------------------------------------board. 8. Appoint ----------------- chairperson- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------the culture and trust created by the chairperson. As the “leader” of the board, the chairperson should demonstrate strong and acknowledged ------------------------------------------------------------------------------------------------------------------------------------------------------------------------decision-making processes. 9. Build a skills-based board- What is important for a board is that it has a good understanding of what skills it has and those skills it requires. Where possible, a board should ------------------------------------------------------------------------------------------------------------------------------------------------------------------------with specialist expertise or fresh perspective. Directors should also be considered on the additional qualities they possess, their “------------------------------------------------------------------------------------------------------------------------------------------------------------------------, and between directors and key stakeholders. 10. Evaluate board and ------------------------------ for improvement- Boards must be aware of their own strengths and weaknesses, if they are to govern effectively. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------director evaluation can include areas as diverse as board processes, director skills, competencies and motivation, or even boardroom ------------------------------------------------------------------------------------------------------------------------------------------------------------------------weaknesses uncovered in board evaluations through director development programs and enhancing their governance processes.

3. Discuss different market structures and their impact on competition. Market structure is best ------------------------------------------------------------------------------------------------------------------------------------------------------------------------not to place too much emphasis simply on the market share of the existing firms in an industry.

Market structures are distinguished ------------------------------------------------------------------ in the market.

As well as ----------------------------------------------------------------------------------------------------------------------- in the market.

A market might have an ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- with the supermarket sector.

According to Jevons, “The ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in any commodity.”

In the words of Benham” Market is an -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------market affects the prices paid in other parts.”

Classification of Market Structure

As there are lot many factors deciding ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------not crystallize our concept.

Thus, let’s look at the following ------------------------------------------------ structures –

From the above chart now it’s clear that ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to maximum, we will come up to the following conclusions –

Types of Market Structures- The term market structure ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and the amount of information available concerning that industry.

Monopoly - A monopoly exists ----------------------------------------------- good or service. Examples of monopoly in Caribbean countries are a single electricity and water ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------controls the market because it is difficult for other firms to enter such industries. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------set the price of products sold in the market. Oligopoly - Oligopoly describes ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------dominance. Examples of firms in this market structure are telecommunications and ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- and information is not easily available.

Perfect Competition - This market ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------structure are price takers as they cannot sell above the price of their competitors-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of strategic raw materials. Monopolistic Competition - Similar to perfect -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. Firms in this market structure are a monopolist for their brand. There is ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- of information. The importance of market structure in an -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the economy need to understand the value of this concept while dealing ----------------------------------------------------------------------------------------win situation for all of us. MARKET ----------------------------------------------------------------- ON COMPETITION- The different market structures have -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, technology, etc. In case of monopolistic competition, all the firms try to achieve this advantage so that -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------advantage to survive in the market.

In the short run, a firm’s competitiveness -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and at a faster pace than its competitors. The most important point about competitive advantage is that -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------quickly to the ever changing opportunities.

Core competence has been regarded as an -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and dynamic environment. In all the market structures, price determination is an -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, a monopolist would always like to remain a monopolist by continuously improving and enhancing the product or service because of which it has hold over the market. On the other hand, in monopolistic -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------provide the following key issues:

A core competence is -------------------------------------------- markets. For example, a firm can operate as a monopolist in one business and can operate in a --------------------------------------------------------------- in other business.

A core competence should make a --------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------instance, a firm entering a monopoly market may acquire some of the processes that --------------------------------- monopolist’s pattern of internal coordination.

In a perfect competition market structure, -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------takers. Examples include Financial markets and Agricultural markets.

Advantages-

There is ----------------------------------------------- of competition The ------------------------------------------------------------- Price is ------------------------------------------------- cost Normal -------------------------------------------------------- run (i.e. over time) Firms ---------------------------------------- efficiency.

The law of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------over supply.

Each company tries to ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- market quickly work to offer the same sales points. Demand is stable in the roofing market, and if competition were not so overwhelming, the ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- away from the supplier.

In any market, sustainable ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the right opportunity at the right time.

4. What are the characteristics of innovative organizations? Giving the example of an organization, explain how creativity contributes to the success of the organization. The concepts of creativity and ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------creativity focus on the nature of thought processes and intellectual activity used to generate new insights or solutions to problems. Other ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the different qualities and outcomes of creative attempts.

Creativity as a context-specific evaluation can vary from one group, one organization and one culture to another and it can also change over time. Evaluating creativity ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the level of the organization and hence, the concept of creativity can be defined as the generation of new and ----------------------------------------------------------------------------------------------------------------------------------------------------------------- or groups in a specific organizational context.

The ------------------------------------------------------------ organizations

In my years of observing many ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------organizations that are always coming up with new ideas, new products, new ways to serve customers and ------------------------------------------------------------------- just a few characteristics.

Celebrate failure: OK, that’s not ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------that does not end up as a rousing success as “career ending”. And they always seek to learn from ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------doing it better.

Supportive atmosphere: Innovative ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------have white boards, flipcharts, markers, conference tables everywhere to encourage on-the-spot ---------------------------------------- as crazy ideas are discussed and debated.

Open culture: These organizations encourage ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------will bring a great new idea to market. It’s a cross-disciplinary team working together.

Openness with customers: And I ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and provide ideas and input into developing new products and services. Ask them to participate in product and service design, development, and testing.

Market knowledge: In innovative ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------organization’s products and services and how they compare to those of their ---------------------------------------------- actively helps them stay up to date.

Clear mission/vision: Employees of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------a result of a culture that involves them in strategic thinking. New ideas are “-------------------------------------------------------------------------------- closer to that vision.

Set employee expectations: Innovative ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ways to identify prospective employees who are not just experienced and technically competent in what they do, but also demonstrate a spark of creativity, a willingness to take risks, to offer ideas, and are comfortable ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------who may begin a sentence with “This may sound crazy but what if we….”. Employees are encouraged to help recruit like-minded people.

Broad-perspective employees: Employees ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------disciplines, even different industries. They are open to exploring and adapting new ideas ---------------------------------------------------- has been tried before.

I believe that an ------------------------------------------------------------ success and lead their industry.

Example- Apple's ------------------------------------------- -

How does Apple, the #----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------innovation success?

Apple innovates through:

o --------------------------------------------------- o --------------------------- Process o Innovation in ---------------------------- o Innovation ---------------------------------- Model o Innovation ----------------------- Experience o Innovation ----------------------------------- o Steve Jobs

Apple's Innovation Strategy has ------------------------------------------------------------ Jobs interview and much more!

Apple has built an Innovation Factory ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------leverages its diverse ecosystem of employees, customers, suppliers, partners & global networks, proven innovation ----------------------------------------------------------------------------------------------------------------------- place - to seize the new opportunities in the marketplace and grow its business.

How did Apple do it? • Increase ------------------------------------ 1,200% since 2000 • Increase net profit more than ---------------------------------------- • Increase market cap ---------------------------------------------- billion and counting.

How --------------------------------?

------------------------------------ Strategy Innovation ----------------------------------- Innovation ------------------------------ Model

Innovation -------------------------- Model Innovation in Customer Experience ------------------------------- Leadership

Apple iPod

iPod ---------------------------- ---------------------------------------- Innovation iPod ------------------------------------- Revenue iPod Growth ------------------------------------- iPod ------------------------------------ / Unit iPod touch iPod -----------------------------------

Can Apple --------------------------------------?

------------------------------iTunes iTunes -------------------------------- iTunes -------------------------------

Apple ---------------------------- Shifts

-------------------------------- Apple iPhone Juggernaut -------------------------------- -----------------------------

Innovation

Thus you saw that how Apple ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------third of Apple's revenue.

"Apple announced the iPhone on January 9, 2007, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------faster 3G data speeds and assisted GPS. Apple released version 3.0 of the iPhone OS for the iPhone (and iPod Touch) on June 17, 2009. The iPhone 3GS has improved performance, a camera with higher resolution and video -------------------------------------------------------------------------------------------------------------------------------------------------in July and August 2009. Apple introduced the iPhone 4 in 2010 - the best iPhone to date!"

Apple iPhone is a real example of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------third of Apple's revenue today, and made Apple a formidable cell phone company within 1.5 years of launch.

5. What are the various types of Social Audit? Illustrate and emphasize the need for social audit. A social audit is an --------------------------------------------------------------------------------------------. For example, a local family store makes a clothing donation to a local church that has a ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------examined by a social audit include records of charitable contributions, volunteer events, and efficient -------------------------------------------------------- wages. Social audits have several aims. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------between the needs of the community and the assets that are available for the development of the local society. Another aim of social ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the effectiveness of programs designed to enhance community development. The various -------------------------------------------------------- as below: 1) Social Process Audit- It tries to ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------what they are doing and how they are doing. The method involves four steps: i) Find ------------------------------------------------------ the social audit programme ii) List out ------------------------------------------------ programme iii) State how the ---------------------------------------------- meet such goals iv) Qualitatively ---------------------------------------------- what has been planned 2) Financial --------------------------- Social Audit- In this type, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------proposed that the balance sheet should show a list of social assets on one side and social commitments----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------community, general public and clients. This approach has been criticized as many feel ------------------------------------------------------------- easy understanding. 3) Macro-------------------- Indicator Audit- This type ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------factors include the social goals expected by society in terms of health, safety, education, housing, accidents, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------social indicators. One of the important problems with this ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------it is not easy to specify whether the individual actions initiated by a company have actually improved the quality of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------In any case this approach helps all companies to evaluate their contributions in improving social life on a rational basis. 4) Social Performance Audit- In developed countries, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------companies on the basis of their social performance. Regular opinion polls are carried out to ------------------------------------------------------------- of the general public. 5) Partial Social Audit- In this case, ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------be very important or because its social efforts for the time being are confined to the area:

Environmental Audit: In developed ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------explore opportunities to recycle wastes into useful products. An internal group constituted by the unit concerned prepares are port about the way the environmental issues of

importance are being taken ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------have been complied with or not.

Energy Audit: to conserve -------------------------------------------------- is obtained, consumed and preserved.

Human Resource Accounting (HRA): The ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------be accounted for as an asset. Conventional accounting methods write off investments in human capabilities and values as operating expenses and thereby understate the profit. The current value of a company’s ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the company’s state of affairs.

6) Comprehensive Audit- It tries to ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------rather than on the actions or events which are not so important. It aims at evaluating the quality of processes and the information on which organizational decisions are taken. Need for social audit-

Each business enterprise is not ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------not be used indifferently, irresponsibly or in an antisocial way. Its activities can create much impact on the society. As such its impact ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------audit has become the need of the day.

“This is a matter not -------------------------------------------------------- “but of necessity”.

Many believe that social audits are an imposition on organizations to divulge some information that they want to keep internal. Others believe that social contributions ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------audits include the following:

1. It provides a recognized method for ------------------------------------------------- of management.

2. Person outside the company ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------employees.

3. The social audit report is ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------company.

Besides there are several other benefits which are worth mentioning.

1. It supplies data for ---------------------------------------------------- standards. 2. It encourages ------------------------------------------------- throughout the organization. 3. It provides data for -------------------------------------------------------------------- welfare programmes. 4. It helps the organization ----------------------------------------------------------- minds of the public. 5. The shareholders shall realize the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------development.

Example-

In HDFC ------------------------------------------------------------ to following parts:

The scope of social audits may differ in HDFC bank. They may be used for investigating the work of all government departments over a number of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the following activities and outcomes:

Produce --------------------------------------------------------- and impartial, Create awareness among --------------------------------------------- services, Improve ----------------------------------------------------------------- documents, Be a ------------------------------------------------------- and mismanagement, Permit stakeholders ------------------------------------------------ government, and Monitor -------------------------------------------------------------- by deterrence.

In general, In HDFC bank, a ------------------------------------------------------ steps:

Social Audits use a combination of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, gathering relevant official records and extracting relevant information from existing data of various sources. This is a crucial stage in the process but is often difficult and frustrating since the agencies under investigation may not have kept records ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to provide information if they are included and gain and understanding of the potential benefits of the process.

6. Write short notes on the following:

a) Product Life Cycle

Product Life Cycle concept- The product life cycle is an ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------this final stage. Some continue to grow and others rise and fall. A product life cycle can be divided into several ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------many different shapes.

This idea is demonstrated by ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the stages a product goes through from its introduction, through its growth until it is mature and then finally its decline. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the product’s life cycle can provide valuable insights into ways the product can be managed to enhance sales ------------------------------------------------------------ in the product life cycle.

Product Life cycle concept and approach offers ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and distribution. Hence, Product Lifecycle is still widely used and practices across industries. Example- Fresh fruit juice.

Once a product is created ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------profit objectives and be able to sustain the offering in the marketplace.

Introduction Stage: this stage is the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------highlights his investments, as company needs to incur cost on the advertising and promotion to ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. A common strategy is to give away free samples

Growth Stage: This stage is focused in ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------bringing greater revenue and profit. The company spread its promotion and distribution to newer markets reaping even more profits. Product packaging and features are enhanced based ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------more customers.

Maturity Stage: This stage ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------differentiation is the name of the game. The advertising and promotion expenditure is reduced as the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to display their product for a longer duration then their competitors. Special offers are given for customers switching from competitors product and also incentives for retailer to extend the shelf-life of the product.

Decline Stage: Finally, the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------customers might prefer new product or the technology is outdated. Either ways it does not make any business sense to continue with the product. At this stage company need to make serious decision on whether to ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------/ niche market at a profitable price. In terms of promotions, companies normally reduce price to clear stocks.

============================================================================================ b) Knowledge Management Knowledge management (KM) ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and experiences comprise knowledge, either embodied in individuals or embedded in organizations as processes or practices.

An established discipline since 1991----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------fields have started contributing to KM research; these include information and media, computer science, public health, and public policy.

Many large companies and non-profit organizations have resources dedicated to internal KM efforts, often as a part of their business strategy, information ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------organizations.

Knowledge management efforts typically focus on organizational objectives such as improved performance, competitive advantage, innovation, the sharing of ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------that by a greater focus on the management of knowledge as a strategic asset and a ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------abstract research.

Benefits ---------------------------------- management

Knowledge management prevents staff from constantly reinventing the wheel, provides a baseline for progress measurement, reduces the burden on expert -----------------------------------------------------------------------------------------------------------------------------------------------------------------------better and faster.

Being a fundamental business enabler, knowledge management will help organizations:

Protect --------------------------------------------- capital Focus on ---------------------------------------------- their human capital Re-orient -------------------------------------------------- sharing strategy Link people to ----------------------------------------------- methods Knowledge -------------------------------------------------------- and sharing

Knowledge Management’s (KM) role is to -----------------------------------------------------------------------------------------------------------------------------------------------------------------------can be handled. KM provides a means to capture and store passing knowledge and broker it to the appropriate individuals.

Examples where -------------------------------------------- offer greatest benefit KM is beneficial ---------------------------------. Here are too few examples where ------------------------- benefits: Social (Governmental) 1. ----------------------------------- disasters 2. Safety in ---------------------------------- 3. Research ----------------------------------- Business 1. Research and --------------------------------------------------------- of redundant research 2. Design and -----------------------------------------------------------------------------------------------------------------------------------------------------------------------a competitive edge for the organization 3. Operations- problems reported from the field greatly aid in improving manufacturing practices and add to product quality 4. Cultural Change- from striving ---------------------------------------------- in addition to create new ideas and objects. Example- TCS

Knowledge Management has -----------------------------------------------------------------------------------------------------------------------------------------------------------------------Processing, Enterprise Report Management, Digital Asset Management, Records Management etc. Tata -----------------------------------------------------------------------------------------------------------------------------------------------------------------------in the following diagram:

The TCS-KM Practice has executed multiple assignments across verticals and geographies over the years. The gathered expertise has emerged as its multidimensional -----------------------------------------------------------------------------------------------------------------------------------------------------------------------and executing a KM initiative in any organization. c) Corporate Philanthropy Corporate philanthropy is the -----------------------------------------------------------------------------------------------------------------------------------------------------------------------corporate citizenship strategy. Corporate philanthropy can -----------------------------------------------------------------------------------------------------------------------------------------------------------------------gifts, volunteer grants, and any other type of product or service donation that is non-monetary. Corporate philanthropy is a company’s -----------------------------------------------------------------------------------------------------------------------------------------------------------------------and tangible goods like computers, medicine, food and textbooks. Companies can donate to charities and nonprofits -------------------------------------------------- employees and fundraising from others. The term ‘philanthropy’ is generally -----------------------------------------------------------------------------------------------------------------------------------------------------------------------at below market prices. Carroll (1979) speaks of business philanthropic responsibilities. He uses the term ‘philanthropic’ -----------------------------------------------------------------------------------------------------------------------------------------------------------------------corporate citizens”. Burlingame and Frishkoff characterize the ways in which corporate philanthropy is undertaken as–

Altruism – giving ----------------------------------------------------- self- interest Shared-benefit giving, giving ------------------------------------------ but not specific benefit Enlightened self- interest ---------------------------------------------------------- for specific benefit over the long term Charitable investment ------------------------------------------------------------ than that invested Stewardship where ------------------------------------------------------- strategies would be appropriate.

Corporate philanthropy and corporate social responsibility are closely related concepts in that philanthropy is a slice of the bigger corporate social responsibility pie. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------, the company itself and its employees. Some Examples-

Some companies just get it. They ---------------------------------------------------------------------------------------, so they institute corporate giving programs that provide more funds, in more ways, to more organizations. Below are -------------------------------------------------------------------------- for corporate philanthropy.

1. Apple 1

CEO Tim Cook became Apple’s head -----------------------------------------------------------------------------------------------------------------------------------------------------------------------, resulting in more than $50 million for charities around the world. In October 2014, Apple informed -----------------------------------------------------------------------------------------------------------------------------------------------------------------------of organizations in other nations. Apple also announced that its volunteer grant program will give -------------------------------------------- organizations. Silicon Valley companies have -----------------------------------------------------------------------------------------------------------------------------------------------------------------------Apple donates, Facebook CEO Mark Zuckerberg separates his business from his philanthropy. He and -----------------------------------------------------------------------------------------------------------------------------------------------------------------------than to donate through corporate giving. Apple will match employee donations up to $10,--------------------------------------- are eligible to receive matching gifts.

2. Google

Normal companies don’t offer -----------------------------------------------------------------------------------------------------------------------------------------------------------------------om New York, to the U.K., to Germany and more. Google could not give as much as it does -----------------------------------------------------------------------------------------------------------------------------------------------------------------------has matched $21 million in employee donations to over 9,000 organizations worldwide. Google’s community programs include:

1. Bay Area Giving: Proud -----------------------------------------------------------------------------------------------------------------------------------------------------------------------past three years.

2. Code for America: In an effort -----------------------------------------------------------------------------------------------------------------------------------------------------------------------an annual gift of $3 million to develop civic technological solutions.

3. Roberta: Google believes that robots are a fun, ----------------------------------------------------------------------------------------------------------------------------------------------------------------- to help them develop technology to program and control robots using a smartphone app.

4. Programming Education Gathering: -----------------------------------------------------------------------------------------------------------------------------------------------------------------children.

5. Raspberry Pi: A $1 million Google grant -----------------------------------------------------------------------------------------------------------------------------------------------------------------exceptional enthusiasm for computer science.

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