Attempt ANY
[14 marks]Define Strategic Management.
[ marks]What is a mission statement?
[ marks]Explain any two types of Integration strategies.
[ marks]What are annual objectives in strategic management?
[ marks]Explain SWOT analysis in brief.
[ marks]State two characteristics of a good strategy evaluation system.
[ marks]What are the key functions of R&Din strategy implementation?
[ marks]What is the relevance of Porter’s Five Forces model?
[ marks]Multiple Choice Questions ( All Compulsory ) (1) Which of the following is the first step in the strategic management process? A. Strategy Evaluation B. Strategy Implementation C. Strategy Formulation D. Environmental Scanning (2) What is a key benefit of having a clear mission statement? A. Provides direction for strategic decision making B. Limits employee creativity C. Increases organizational costs D. Replaces the need for vision (3) Porter's Five Forces Model is used for: A. Internal assessment B. External assessment C. Financial forecasting D. HR planning Page 1 of (4) Which of the following is NOT an intensive growth strategy? A. Market Penetration B. Product Development C. Horizontal Integration D. Market Development (5) What type of organizational structure is most suitable for a diversified company? A. Simple structure B. Functional structure C. Divisional structure D. Flat structure (6) SWOT analysis involves: A. Strengths, Weaknesses, Opportunities, Threats B. Strategy, Workload, Optimization, Tactics C. Sustainability, Workforce, Operations, Targets D. Systems, Ways, Objectives, Techniques (7) Which of the following is a defensive strategy? A. Product Development B. Divestiture C. Forward Integration D. Market Development (8) Contingency planning is most closely associated with: A. Strategy Formulation B. Strategy Implementation C. Strategy Evaluation D. Vision and Mission development (9) Which function is directly related to managing people in strategy implementation? A. Finance B. Production C. Human Resources D. R&D (10)What is the main objective of strategic evaluation? A. To allocate financial resources B. To determine the effectiveness of strategy C. To create organizational hierarchy D. To identify competitors (11)Agood mission statement should be: A. Broad and vague B. Clear and inspiring C. Confusing and complex D. Highly technical (12)The purpose of internal assessment in strategy formulation is to evaluate: A. Legal environment B. Resources and capabilities C. Customer satisfaction D. Political stability Page 2 of (13)Annual objectives in strategy implementation serve to: A. Guide short-term activities B. Replace corporate strategy C. Evaluate employee performance only D. Define external threats (14)In 21st century strategic management, VUCA stands for: A. Vision, Understanding, Capability, Action B. Variety, Unity, Control, Accuracy C. Volatility, Uncertainty, Complexity, Ambiguity D. Value, Uniqueness, Clarity, Agreement
Describe the strategic management process and its stages.
[7 marks]Analyze the benefits of a well-defined vision and mission in an organization
[7 marks]Explain the characteristics of a good mission statement with examples.
[7 marks]Discuss the benefits of engaging in the strategic management process.
[7 marks]Explain the importance of external and internal assessment in strategy formulation.
[7 marks]Describe the role of finance and marketing functions in strategy formulation.
[7 marks]What is Porter’s Five Forces Model? Explain its relevance with an example.
[7 marks]Describe the role of MIS in strategic management.
[7 marks]What are the criteria for an effective strategy evaluation system
[7 marks]Discuss the 21st-century challenges in strategic management.
[7 marks]What is contingency planning in strategy evaluation? How is it implemented?
[7 marks]How does ethics impact strategic management in today’s business environment? Page 3 of
[3 marks]