A STUDY ON STRATEGIC PLANNING AND IMPLEMENTATION
Strategic Management:
According to Chandler, “Strategy can be defined as the determination of basic long term goals and objectives of an enterprise and the adoption of the courses of action and the allocation of resources for carrying out these goals”. In simple words, Strategic management is the tactical action in various functional areas of the company to attract the market towards its product and business units.
Company Profile:
AAA limited, which is originated in the late 1960’s is said to be one of the most well known financial lending company having its branches to the total of 23 with in the country. The business is all about financial lending for heavy commercial vehicles as well as medium commercial vehicles. Taking in account the departments that operate in this company each department has its own reason for existence and play a major role in the business as interdependency is highly present. The following departments have a direct contribution to the business and thus shortly discussed.
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CARE – Customer Acquisition & Retention Dept:
This department is wholly responsible for generating lead for finding out potential customers in the market and also to sell the products of the company. Marketing information systems are used up to a greater extent as the study is confined to human resource information systems the discussion further is thus limited.
CAP – Customer Appraisal Process: This department is wholly responsible for appraising the potential customers demand for the loan and hence contributes for further business.
CAMP – Customer Asset Management Process: This department is responsible for collecting the lended funds and ensures atmost retention of existing customers and proper receivables management on time.
HRD – Human Resource Management Department
Attracting, Training, developing, retaining competent and productive people is the basic...