Strategy Designing- The makeover of the Corporate Houses

The emergence of strategy making as an integral field of management is altogether a new phenomena but has gained a vital importance at a very rapid pace which is visible through an outstanding consumer market as well as the technologies used in business and the corporate world. With the advent of new technologies and increased globalization, companies are finding it harder to sustain and create an impact on their environment. The companies have witnessed a major shift in the corporate scenario and thus managing strategies has become an integral part of business dynamics for any corporate house to achieve an edge over its competitors. Firms are firmly determined to create strategic assets through their intent to emerge as leaders in the race. Another major shift seen in the current corporate business houses is creation of intellectual assets. The Indian markets have seen heavy investments in physical assets by various international companies. Some examples of distinctively strategically focused companies can be Dr. Reddy’s Lab , Indian Oil Corporation Ltd., Wipro, Ranbaxy, Infosys, BHEL, the major attributes of strategic management are also worth discussing here as majorly all of them focuses on organizational goals and objectives followed by decentralization as it encourages middle management in decision making process. The strategic soundness requires incorporating both short term as well as long term perspectives. It also focuses on trade-offs between effectiveness and efficiency.

Thus STRATEGY is said to be the life blood of any Business or Corporate house as it is inevitable for their survival.

By:- Megha Mathur (Faculty of Marketing)