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Strategy Project

Transcript of SM1 Project

Strategic Management

Strategic ManagementGroup-9, Section-DPresented By:15P189 Arijit Nayak15P192 Aviral Jain15P198 Devesh Aggarwal15P202 Harsharan Singh15P208 Kashish Narula15P211 Ankita SharanGenre: Epic/MythologyChakravyuh: The Military Strategy JuggernautFormation created by Drona appeared on the Battlefield on the 13th day of the battle of KurukshetraFormation was designed as a spinning wheel and a puzzle in a constantstate of rotationOnly 4 people knew the art of breaching the vyuh including Krishna and Arjun. This was meant to capture YudhisthiraAbhimanyu entered the maze but was killed unethically. This led to war of mini vengeance between Arjuna and Kauravas

Lesson In Strategy Learnt:Have a clear goal and vision to pursue: Dronas Goal was to capture YudhisthiraAnalyze industry landscape and forces:Chakravyuh was tactically chosen after analayzing the strength and weaknesses of PandavasLeverage and Diversify your Core Competencies: Chakravyuh had all kinds of warriors to ensure no enemy can leave the Vyuh Know your competitor and their Strategy: Drona knew only Arjuna &Krishna knew how to breach the Vuyh and hence they were kept away

2Genre: Epic/MythologyMahabharatha: Circumstances shaping strategic intent & focusLesson In Strategy Learnt:Dont fall victim to Circumstances: In his anger, Bhishma Pitamah took a decision which led to downfall of KauravasDo Not underestimate your rivals: Saubala strategized to save the life of his son and gave him Dice made from his bones to avenge Kauravas

3He also ensured that strength of each player is utilized at the right time and this led to Indias Victory in the World ChampionshipGenre: Movie/TV SeriesChak De IndiaLessons In Strategy Learnt:It is important to study internal environment and identify strengths to develop core competenciesStudying the external environment is necessary for developing a competitive advantage against rivals

With his resilience and strict discipline he helps each player identify their strength and develop a team spiritHe faces huge resistance from the players who are fixated on playing the same positions as in their state teamsKabir Khan, ex-Captain of National Mens Hockey team is appointed the coach of Womens Hockey Team4Genre: Movie/TV SeriesSeinField- The RyeGeorge Costanza goes to meet his prospective in laws with his parents who take along a marble rye bread as a giftHis in-laws forget to serve the bread at dinner. This angers his father who steals the bread while leavingIn order to save his face, George concocts a plan with his friends to replace the stolen bread What follows is series of chaotic incidents, ending in an embarrassing situation for George in front of his in lawsLesson In Strategy Learnt:A goods strategy also needs a proper implementationStudying the external environment is necessary for developing a competitive advantage against rivals

5Genre: SportsOakland AtheticsOakland Athletics is an American Baseball team, who lost 3 of its key players during 2001-02 to bigger teamsBilly Beane was appointed the manager of the team and he challenged the norms followed earlierHe used data analytics to select players who were undervalued by other teamsHis strategy worked and he was able to build a formidable team which won 20 games straightLesson In Strategy Learnt:Strategy is also about bold leadership and taking chance to do something uniqueStrategy requires that you keep challenging the status quo and rediscovering yourself

6Genre: MusicN.W.A- Revolution in the hip-hop industryN.W.A was an American hip hop group- early popularizers of Gangsta Rap and West Coast Hip Hop Sub-genresThey faced controversy due to their lyrics that were viewed as disrespectful of women and glorification of drugs and crimeDespite being banned from all mainstream Radio Stations, they sold over 10 million copies in USATheir strategy was to use the anger of black community due to oppression and thus appeal to themLesson In Strategy Learnt:Strategy is about doing right things at right timeInnovating constantly and being ahead of competitors is an important lesson in strategy

7Genre: PoliticsNarendra Modis Digital Success StoryModis success in 2014 elections was a result of a long time vision of Developed India and a mission statement of Collaborative GrowthHe created the domain early in 2005 and joined Twitter and Facebook in 2009 to increase his reach in massHe also launched his campaign Narendra Modi for PM in January 2010 for a competitive edge over his rivalsHis campaign revolved around 3 key strategies- leveraging his popularity, highlighting the negatives of UPA and sowing the seeds of hope among peopleLesson In Strategy Learnt:Communicating vision and mission statement clearly is imperative for successStrategy involves proper planning and adapting according to changing trends to stay ahead of competitors

8Genre: PoliticsDonald Trumps Presidential CampaignLesson In Strategy Learnt:There needs to be one key factor on which the strategy needs to be based onAlways have a strong backup plan to fall back on in case one plan doesnt work

9Genre: FolkloreBaital PachisiLesson In Strategy Learnt:One should know his weaknesses and rivals strengths during any transaction

10Genre: ParablesDavid and GoliathLesson In Strategy Learnt:Agility and Speed are important factors in success of a strategy and for beating the rivalsChallenging the status quo and Innovative Disruption helps ensure victory

11Genre: Work ExperienceProfessionalLesson In Strategy Learnt:Proper understanding of the environment helps strategize betterInvolving strong channel partners goes a long way in ensuring success of the strategyBeing the biggest branch in the region, brunt of implementing govt.initiatives fell on our branchOne such inititive was giving loans to Womens SHGs with which we had a very bad experienceTo solve the problem we came up with the plan to enlist a local NGO to help educate the SHGs and concept of loan was made clear to themNGO also helped educate and train women to run their business, thus helping ensure that they could pay back the loan

12Genre: Personal ExperienceLesson In Strategy Learnt:A good strategy requires clarity of short term and long terms goalsThere should always be a Plan B to fall back onWith a clarity of short term and long term goal, I made a strategy to prepare for management entrance examsMeanwhile, I also prepared well for placements and succeeded in getting placed at L&T as Plan BThis plan B helped me decide to drop a year and not compromise on the B-school selection

13Our LearningsHaving a clear vision and mission is the first step towards formulating a strategyIt is good to recognize your strengths and weaknesses, but it is better to know the strengths and weaknesses of your rivalsBuilding on your core competencies is imperative in order to beat the competitionAnalyzing both internal and external environments is important as it provides a picture of where we stand Think twice before formulating any strategy as it can have serious repercussions in futureIt is not enough to have a good strategy- you also need smart partners and proper planning to implement the strategy successfullyA good strategy is the one which is implemented at the right time and takes into consideration the needs of the stakeholdersIt is not necessary to follow the status quo- focus on being innovative and creating a place for yourselfBeing quick to learn from failures and adapting your strategy according to changing circumstances is the key to successAlways have a Plan B while formulating s strategy so that you have something to fall back on in case one plan failsTo be successful, a business needs to update its fundamental assumptionsApplication of These LearningsConcept of core competencies is applicable in case competitionsThe group can have good marks in the term if they understand each other and also work out smartlyIf we loose in competitions, its important we learn for the next rather than repent on that oneNot all the professors are same, so we need a different strategy for each subjectWe might keep focusing on live projects but we must have a Plan B in case live projects arent interesting to the interviewer and he wants something elseWhat classmates can learnThere is a strategy in everything around us- be it the movies, politics, music/dance or folktalesIt is important to notice and adopt the learnings we can derive from these in our life as they help us in developing strategies for our businessAlso, we come across many incidents in our personal and professional life which teach us lessons in strategies, we should be cognitive of such incidents and try to learn from themIt is important that we try to apply the fundamentals and frameworks of strategy learnt in class in daily lifeThis will also makes us more aware as a professional when we enter the industry- we would be able to understand the need of the people and formulate right strategies at right timeAnd yet, if nothing works out at the end, we now know that there needs to be a Plan B, and that makes us better prepared to face the challenges that lays ahead