Strategic Management anticipates about the future in a rational and logical manner. Strategic Management follows a procedure that adds to the reputation of the organization. Strategic management analyzes the threats present in the external environment so that companies can foresee the events in the future and remain stable in the market. Strategic Management enable companies to grab every opportunity available in the marketplace.
Here we present Strategic Performance Plan of Smart Adhesives Pvt. Ltd.:
Fast Bonding Ltd., was a medium sized company which has followed the policy of growth through acquisitions. Five years ago the company acquired Smart Adhesives Pvt. Ltd., which was the main competitor. At the time of acquisition, Smart Adhesives Pvt. Ltd., was in bad financial condition with huge accumulated losses. Therefore, the board of Fast Bonding Ltd., felt that it was a good buy, and was confident of turning it around.
The General Manager of Fast Bonding Ltd., accepted and challenging task of turning that made a comprehensive plan and tried to implement certain measures to improve the productivity but met with a little success. Infact, last year, the workers almost rebelled against the management.
1) Identify the problems involved in the above case. – 8 marks
2) How would you solve the problem and improve the performance of Smart Adhesives Pvt. Ltd. – 7 marks