Strategic Management Workshop
Knowing the answers to all of these questions (seventy-six in total) will guarantee you outstanding marks in the final examination as they represent the Strategic Management course (up to chapter six) in its entirety. Therefore virtually every question that can be associated with the course material thus far has been covered. Please therefore answer all of them in your own time in order to prepare yourself for the pending examination. Once you have done so tackle the pilot examination (closed book) that is attached hereto. This should more than adequately prepare you for the final assessment! NB: Also complete the attached October/November 2006 examination.
1. Define strategic management(2)
2. What is meant by the term “a competitive advantage?” Provide an example(2) 3. Define the term “stakeholder” and name eight stakeholders that are associated with most firms(10) 4. Who are the most important stakeholders in an organization; the employees or the shareholders? Why?(2) 5. Differentiate between quantitative and qualitative decisions(2) 6. Briefly discuss the four key elements of the strategic management process(8) 7. Discuss five benefits and five risks associated with strategic management(10) 8. What is meant by the hierarchy of strategic management? Discuss the four elements.(10) 9. It is said that there is a stronger argument for strategic management in non-profit organizations. Discuss.(2)
1. What is meant by corporate governance and what does it deal with?(2) 2. The King11 report identified seven characteristics of good corporate governance. Name them(7) 3. From a governance point of view an organization’s Board of Directors has a number of responsibilities. Name five of these responsibilities(5) 4. What is meant by the following terms from a corporate governance perspective: • Risk management(1)
• Sustainability reporting(1)
• Relationship and communication with shareholders(1) 5. What is corporate citizenship?(2)
6. Discuss the term corporate social responsibility and the three reasons why strategists should take social responsibility into account when formulating corporate strategy(5) 7. Differentiate between environmental responsibility and sustainable development(4) 8. Enlarge upon the term “triple line approach”(4) 9. Freemantle and Rockey provide a number of guidelines for engaging with stakeholders. Discuss any four of these guidelines(4) 10. Stakeholders have differing claims and expectations from an organization. List these claims from the following perspectives: • Shareholder(1)
• General community(1)
11. Discuss the link between corporate governance and corporate citizenship(2) 12. Why is corporate governance and citizenship important from a national (country) point of view?(2) 13. What is an organizational vision statement and what questions does it answer?(4) 14. Name four purposes of an organizational vision(4) 15. What is an organizational mission and what are the four focal points associated thereto? (5) 16. Discuss the six components of a mission (6)
17. Name the six factors that should be taken into account when formulating a mission(6)
1. Explain the relationship between an organization’s resources and an organization’s capabilities(2) 2. Why is it important to perform an internal (micro) analysis?(2) 3. What is the relationship between the components of an internal analysis and strategic...