IGNOU MMPC 012 Free Solved Assignment 2022-23

IGNOU MMPC 012 Free Solved Assignment 2022-23 , IGNOU MMPC 012 Strategic Management Free Solved Assignment 2022-23 If you are interested in pursuing a course in radio production and direction, IGNOU MMPC 012 can be an excellent choice. In this article, we will take a closer look at what IGNOU MMPC 012 is all about and what you can expect to learn from this course.

IGNOU MMPC 012 is a course offered by the Indira Gandhi National Open University (IGNOU) under the School of Journalism and New Media Studies. As the name suggests, it is a course on “Production and Direction for Radio.” The course is designed to provide students with a comprehensive understanding of radio production and direction and covers various topics related to this field.

IGNOU MMPC 012 Free Solved Assignment 2022-23

Q1. What is the process of strategic management? Explain.

Strategic management is the process of identifying an organization’s objectives, developing strategies to achieve those objectives, and allocating resources to implement the strategies. Here are the key steps in the strategic management process:

  • Setting goals and objectives: The first step in strategic management is to define the organization’s mission and establish clear and specific goals and objectives.
  • Analysis of the external and internal environment: The next step is to analyze the external environment, including competitors, market trends, and economic conditions, as well as the internal environment, including the organization’s strengths and weaknesses, to identify opportunities and threats.
  • Formulating a strategy: Based on the analysis of the environment, the organization’s strengths and weaknesses, and its goals and objectives, a strategy is developed. This involves choosing the best course of action to achieve the organization’s objectives.
  • Implementation: The strategy is then implemented by allocating resources and creating action plans. This step involves identifying the resources needed and developing a plan for putting the strategy into action.
  • Evaluation and control: The final step in the strategic management process is to evaluate the success of the strategy and make any necessary adjustments to ensure that it is achieving its objectives. This step involves monitoring the progress of the strategy, identifying any problems or obstacles, and taking corrective action as necessary.

Overall, the strategic management process is an ongoing cycle of analysis, planning, implementation, and evaluation, which helps organizations achieve their goals and remain competitive in their respective industries.

Q2. Describe the process for analyzing the external environment.

Analyzing the external environment involves examining the various factors outside of an organization that can impact its operations and success. This process can be broken down into several steps:

  • Identify the relevant factors: Begin by identifying the key external factors that could impact the organization. These may include economic, social, political, technological, legal, and environmental factors.
  • Gather information: Collect information on each of the identified factors. This may involve reviewing industry reports, analyzing market trends, conducting surveys, or using other research methods.
  • Evaluate the information: Once the information has been gathered, analyze it to identify any patterns or trends that could impact the organization. This may involve using tools such as SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), PESTEL analysis (Political, Economic, Sociocultural, Technological, Environmental, Legal), or Porter’s Five Forces analysis (competitive rivalry, threat of new entrants, threat of substitutes, bargaining power of buyers, and bargaining power of suppliers).
  • Prioritize factors: Based on the analysis, prioritize the external factors that are most likely to impact the organization. This may involve ranking them by importance, urgency, or likelihood of occurrence.
  • Develop strategies: Finally, use the information gathered and analyzed to develop strategies that can help the organization mitigate the risks and take advantage of opportunities presented by the external environment. This may involve adjusting product offerings, changing marketing strategies, or altering organizational structures and processes.

Q3. Explain the Resource Based View Model in light of the resources being the key to support the organizational performances. 

The Resource-Based View (RBV) is a model used to analyze the internal resources and capabilities of an organization in order to identify its strengths and weaknesses. According to RBV, the resources and capabilities of an organization are the key determinants of its performance and competitive advantage.

RBV suggests that organizations should focus on developing and leveraging their unique resources and capabilities to achieve sustained competitive advantage. Resources can be both tangible and intangible, and can include things like physical assets, financial resources, human capital, intellectual property, and organizational culture.

In order to gain a sustained competitive advantage, organizations must have resources that are valuable, rare, inimitable, and non-substitutable. Valuable resources are those that enable an organization to exploit opportunities and/or neutralize threats in its external environment. Rare resources are those that are not widely available to competitors. Inimitable resources are those that are difficult or costly to imitate or replicate. Non-substitutable resources are those that have no viable alternatives.

By identifying and leveraging its unique resources and capabilities, an organization can create a competitive advantage that is difficult for competitors to replicate. This advantage can lead to higher profits, increased market share, and improved organizational performance.

Overall, the RBV model suggests that resources are key to supporting organizational performance, and that organizations must focus on developing and leveraging their unique resources and capabilities to achieve sustained competitive advantage.

Q4. Describe the various factors involved in formulating the competitive strategy.

Formulating a competitive strategy involves analyzing various factors that can influence the company’s position in the market and its ability to compete effectively. Some of the key factors involved in formulating a competitive strategy include:

  • Market analysis: This involves assessing the size and growth potential of the market, identifying the main competitors, and understanding the customers’ needs and preferences.
  • Competitive advantage: A company’s competitive advantage is what sets it apart from its competitors. This can be achieved through cost leadership, product differentiation, or focus strategy.
  • SWOT analysis: A SWOT analysis involves analyzing the company’s strengths, weaknesses, opportunities, and threats. This helps the company identify areas where it can leverage its strengths and mitigate its weaknesses.
  • Resource allocation: Allocating resources efficiently is crucial for a company’s success. This involves determining how much resources should be allocated to each business unit, product line, or market segment.
  • Innovation: Innovation is important for staying competitive. Companies need to continually innovate and improve their products and services to meet customers’ changing needs.
  • Marketing strategy: A company’s marketing strategy should be aligned with its overall competitive strategy. This includes identifying the target market, positioning the product or service, and developing effective marketing messages.
  • Organizational structure: A company’s organizational structure should support its competitive strategy. This involves aligning the company’s structure, processes, and culture with its goals and objectives.
  • Legal and regulatory environment: Companies need to be aware of the legal and regulatory environment in which they operate. This includes understanding laws and regulations related to intellectual property, consumer protection, and competition.
  • Financial performance: A company’s financial performance is an important factor in formulating its competitive strategy. This includes assessing profitability, cash flow, and return on investment.

Overall, formulating a competitive strategy involves analyzing various internal and external factors and developing a plan that will enable the company to compete effectively and achieve its goals and objectives.

Q5. Discuss different types of strategic controls with respect to the strategy of an

Strategic controls are essential to the success of any organization as they help to ensure that the organization is on track to achieve its objectives and goals. There are different types of strategic controls that organizations can use to monitor and evaluate their strategy. In this response, I will discuss some of the types of strategic controls with respect to the strategy of an organization.

  • Premise Control: Premise control involves checking the basic assumptions and premises underlying the organization’s strategy. It aims to ensure that the underlying assumptions of the strategy are still valid and relevant. This type of control is critical in industries where there are significant changes and uncertainty, and assumptions need to be continually monitored and updated to reflect the changing market conditions.
  • Implementation Control: Implementation control involves monitoring the implementation of the strategy. This type of control is focused on ensuring that the organization is executing its strategy correctly and that the resources allocated to the implementation of the strategy are being used effectively. This type of control helps to identify any deviations from the planned strategy and provides an opportunity to take corrective action.
  • Strategic Surveillance Control: Strategic surveillance control involves monitoring the internal and external environment for changes that may affect the organization’s strategy. This type of control helps to identify any threats or opportunities in the market and enables the organization to adjust its strategy accordingly. This type of control is particularly relevant for organizations operating in dynamic and rapidly changing industries.
  • Special Alert Control: Special alert control involves monitoring specific events or issues that could have a significant impact on the organization’s strategy. This type of control enables the organization to respond quickly to unexpected events, such as changes in legislation or a sudden shift in consumer preferences.
  • Performance Control: Performance control involves monitoring the performance of the organization against its strategic objectives and goals. This type of control is essential to ensure that the organization is on track to achieve its goals and enables it to take corrective action if necessary. Performance control includes monitoring financial performance, customer satisfaction, and employee engagement.

In conclusion, there are different types of strategic controls that organizations can use to monitor and evaluate their strategy. Premise control, implementation control, strategic surveillance control, special alert control, and performance control are some of the most common types of strategic controls. Organizations should use a combination of these controls to ensure that their strategy is effective and that they are on track to achieve their objectives and goals.

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