VU VICKY Virtual University Assignment Solution, Past Papers, Handouts and other material

Mgt503 gdb Sol

a)      Lucky cement has a clearly defined vision, mission, and set of goals that establish a clear direction, purpose, and benchmarks for success. They also assist in aligning organizational structure and programs directly to the stated mission and vision. Lucky cement may use only a mission or a vision statement or a combination of the two. Lucky cement provides more depth and detail about their mission by concrete and measureable objectives to support their goals.

Strategic Management Process of Lucky Cement and it is aligned with organizational vision and mission statement

ü  Clarify his mission and values

ü  Create a meaningful plan

ü  Communicate it

ü  Involve the individual

ü  Monitor and adjust accordingly

ü  Sustain it.

b)       

·         Corporate level Growth strategies look at methods to get more revenues from the sales of products or goods.

·         Quality of product

·         Customer satisfaction

·         Low rate

·         Industry leaders often talk about vertical and horizontal strategies when referring to growth strategies. A vertical strategy seeks growth by taking over various components of the operations path.

·         A horizontal growth strategy refers to a business extending its reach of existing products or services to new geographic areas or new target markets.