Problem 1

Explain the key elements, which contribute to a sound and effective strategy.

>>Explanation of following elements

• Market
• Consumers
• Competition
• Skill
• Technology
• Knowledge
• Goals
• Scope
• Competitive advantage
• Logic

Problem 2

Growth or expansion strategy is normally adopted by organizations which want to explore new products, markets or operations. When growth becomes the primary objective of the company, it becomes important for the company to expand its horizons and venture into new areas. Discuss the conditions under which an organization adopts a growth or expansion strategy.

1. Survival
2. Environmental Demands
3. Talent Spotting
4. Market leadership
5. conclusion