useful for MBA and other types of students

1. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Strategic and Innovation Management
Course Code: MBA-441
semester – IV
Paper- Core
Mr. Ashesh Anand
University Department Of Management
Vinoba Bhave University
Hazaribagh

2. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
UNIT 1
UNDERSTANDING
 Strategy
 Defining Strategy
 Importance Of Strategy
 Levels At Which Strategy Operates
 Strategic Intent
STRATEGIC INTENT
 Vision
 Mission
 Goals
 Objective

3. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
What is Strategic
Management?
Strategic management is the set of managerial decision and action that determines the
long-run performance of a corporation. It includes
1. Environmental Scanning (Both External And Internal),
2. Strategy Formulation (Strategic Or Long Range Planning),
3. Strategy Implementation,
4. Evaluation And Control.
The study of strategic management therefore emphasizes the monitoring and evaluating
of external opportunities and threats in lights of a corporation’s strengths and
weaknesses.

4. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Strategic management is defined as dynamic process of formulation implication and
control of strategies to realize the organization strategic intent.
Dynamic- Means changing process which is not static or mechanistic process .Strategic
management is continual evolving iterative process which is repeated over the time as
situation demands.
Importance of Strategic Management:
1. To The Shape The Future Of Business
2. Effective Strategic Idea
3. Mangers And Employer Are Innovative And Creative
4. Its Decentralized The Management
5. Its Helps To Increase The Productivity
6. To Makes Discipline
7. To Make Control

5. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
strategic Intent
Strategic Intent can be understood as the
philosophical base of the strategic management process.
It implies the purpose, which an organization endeavor of achieving.
It is a statement, that provides a perspective of the means, which will lead the
organization, reach the vision in the long run.
Strategic intent gives an idea of what the organization desires to attain in future.
It answers the question what the organization strives or stands for? It indicates the
long-term market position, which the organization desires to create or occupy and the
opportunity for exploring new possibilities.

6. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Strategic Intent
In the field of management and organizational development, strategic intent is defined as a
compelling statement about where an organization is going that succinctly conveys a sense of
what that organization wants to achieve in the long term. Strategic intent answers the question:
“What exactly are we trying to accomplish?”
•Strategic intent can provide a sense of direction, a particular point of view about the long-
term market or competitive position the organization hopes to develop and occupy.
•Strategic intent can provide a sense of discovery in that it holds out to the organization’s
members the promise of learning about other organizations that operate in the same market,
adopting their best practices and avoiding pitfalls.
•Strategic intent can provide a sense of destiny, a worthwhile goal around which energies can be
focused across the organization.

7. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Vision
Mission
Goals
Objectives
Plan
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N Plan to fail ……FAIL
TO PLAN

8. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
MISSION
STATMENT A mission statement is a short statement of
why an organization exists, what its overall
goal is, identifying the goal of its
operations: what kind of product or service
it provides, its primary customers
or market, and its geographical region of
operation. It may include a short statement
of such fundamental matters as the
organization's values or philosophies, a
business's main competitive advantages, or
a desired future state

9. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
VISION
STATMENT
Facebook - To give people the power to share and make the world more open and connected .”
•Tesla: To accelerate the world’s transition to sustainable energy.
•Nike: Bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.
•MVMT: Style shouldn’t break the bank.
•Warby Parker: To offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses.
•Shopify: Make commerce better for everyone, so businesses can focus on what they do best: building and selling their
products.
•Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the
environmental crisis.
•IKEA: To create a better everyday life for the many people.
•TED: Spread ideas.
•Amazon: To be Earth’s most customer-centric company, where customers can find and discover anything they might want to
buy online.
•Southwest Airlines: To become the world’s most loved, most flown, and most profitable airline.
•Google: To organize the world’s information and make it universally accessible and useful.
•Asos: Become the world’s number-one destination for fashion-loving 20-somethings.
•Loreal: To provide the best in cosmetics innovation to women and men around the world with respect for their diversity.
•Bulletproof: Help people perform better, think faster, and live better.
•Honest Tea: Create and promote great-tasting, healthy, organic beverages.

10. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Key Elements of a Good Vision Statement
companies should not be too ambitious in defining their long-term goals, it is
critical to set a bigger and further target in a vision statement that
communicates a company’s aspirations and motivates the audience. Below are
the main elements of an effective vision statement:
•Forward-looking
•Motivating and inspirational
•Reflective of a company’s culture and core values
•Aimed at bringing benefits and improvements to the organization in the
future
•Defines a company’s reason for existence and where it is heading

11. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
DIFFERENCE BETWEEN VISION AND MISSION
mission statement is what your company is doing right now, while vision statement is
what you hope to achieve in the future – where you are in this moment versus where
you’re going.
The vision statement specifies the company’s future goals and values. It does not
change with the passage of time i.e. it remains same. The statement must have clarity,
concreteness, conciseness, completeness, correctness and courtesy. , “A man without
eyes is blind, but a man without a vision is dead.” This statement defines that a
company without having a vision will not survive for a long time.
VISION STATEMENT
LinkedIn-“Connect the world’s professionals to make them more productive and
successful.”

12. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
KEY DIFFERENCES BETWEEN
MISSION STATEMENT AND VISION STATEMENT
A. The vision statement discusses the desired position of the company in future.
On the contrary mission statement talks about the company’s business,
purpose and the approach to pursue them.
B. The Vision Statement remains same till the company survives. Conversely, the
Mission Statement may change if required by the company.
C. The Vision Statement is made to inspire. On the other hand, the Mission
Statement is made to inform.
D. The Vision Statement shows the company’s future aspirations whereas the
Mission Statement explains the company’s core purpose.
E. The Vision Statement is shorter than Mission Statement

13. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
EXAMPLE
Vision Statement
•Facebook – “People use Facebook to stay connected with friends and family, to
discover what’s going on in the world, and to share and express what matters to them.”
•Google – “to provide access to the world’s information in one click.”
Mission statement
•Facebook – “to give people the power to share and make the world more open and
connected.”
•Google – “to organize the world’s information and make it universally accessible and
useful.”

14. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Goals & Objectives
A company’s goals and objectives are the foundation, which
measures how much distance it has covered to attain its
vision. Goals are defined as the lifelong aims, which an
individual or entity endeavor to achieve something. It
determines what the company is attempting to accomplish.
On the other hand, objectives are the specific milestones
which a person plans to achieve in a limited period. These are
precise, measurable, time-based, actions that assist in the
achievement of goal.
Every company sets out is goals and objectives, in order to
reach its mission and vision. These are specific outcome
which an enterprise aims to accomplish within the particular
timeframe, that too with available resources. Take a read of
the given article to understand the difference between goals
and objectives.

15. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
Definition of Goals
Goals are defined as the target or purpose that a person imagines or
plans to accomplish or to reach or to achieve in future. They are the
driving force that directs a person to make efforts to achieve it.
Definition of Objectives
The aim or target which you want to achieve within a limited period is known as the
objective. They are the milestones that help you to reach your goal. That is why they are
also termed as subgoals. It is a step to reach a particular point.

16. Mr. Ashesh Anand, Department of Management, vinoba Bhave University

17. Mr. Ashesh Anand, Department of Management, vinoba Bhave University
KEY DIFFERENCES BETWEEN
GOALS AND OBJECTIVES
A. The goals are the broad targets, which can be achieved through continuous
actions taken in the particular direction. Objectives are the aims that you
want to achieve in a short span of time.
B. The goals are the result i.e. a primary outcome, but if we talk about objective,
it is a stepping stone for achieving the goal.
C. The goals are based on ideas, whereas objectives are facts based.
D. When it is about the time limit, it is difficult to determine correctly that in how
much time it can be achieved, but objectives can be time bound, in essence,
they can be attained in a given period.
E. It is hard to measure goals, i.e. how much distance you have covered till
now, while chasing your goal and how much is left to be achieved. On
the other hand, objectives are easy to measure.
F. The goals are abstract, while objectives are concrete.
G. The goals require general actions to attain it. As opposed to objectives, that
needs specific actions.