Winning Business Strategies- a guest lecture
Indian Institute of Cost and Management Studies & Research (IndSearch) had organized guest lecture for MBA-1st and 2nd students in the auditorium at 11 am on 8th August 2018. The speaker for guest lecture was Dr. Ravindra Utgikar who is working as Vice President Corporate Strategy and Marketing at Praj Industries Ltd. and Miss Dipali Abhyankar who is head of Logistics and Exim Function at Praj Industries Ltd.
Dr. Aparna Tembulkar, Director, IndSearch felicitated Dr. Utgikar for the guest lecture. Samikshya Borse, the student of MBA 2nd year (Marketing) introduced the speaker. In this lecture Dr. Utgikar and Miss. Dipali discussed about Business strategies concept, explained business strategy from Jack Welch definition also introduced the pillars of Business strategies those were pricing, technology, service and Niche market. He explained how a business strategy can be developed considering the Vision, Mission, Values and Goals of organization. Ms. Dipali explained about the objectives of developing a business strategy and also a strategy in 7 P’s ways. In detail explained about the ‘SWOT Analysis’, strengths and weaknesses as internal factors and opportunities and threats as external factors with examples. They also explained about the ‘Competitive Analysis framework’ as map competitors, doing SWOT analysis of competitors and own organization, stress over our strengths and competitors weaknesses.
Dr. Utgikar explained a strategy formulating tool named ‘Porter’s 5 Forces’; this tool highlighted these forces which an organization has to take care while strategy development and sustaining in market. These forces were new entrant threat, Competitive Rivalry Intensity, Substitute product threat, Customer bargaining power, supplier’s bargaining power. Followed by this Ms. Dipali explained Business strategy levels with the examples of companies using respective level. The session concluded with case study about strategy of value proposition.
Dr. Utgikar and Ms. Dipali made this session more interactive by asking different questions and examples of respective topic. The guest session will surely help the students in having successful career path and achieving professional growth.