Strategic Management and Sample Test Semester

Topics: Strategic management, Management, Firm Pages: 3 (251 words) Published: September 22, 2013
BUMGT 3702
STRATEGIC MANAGEMENT
SAMPLE TEST
Semester X, 201X

Read the instructions given below carefully:
 Duration:

90 minutes

 Condition:

Closed book examination

 Value:

20%

 Choice:

Answer any FIVE (5) questions.
Each question is worth 4 marks.

 Length of each answer:

½ to 2/3rd of one A4 page.
Write each answer in a new page.

****************

1.

What does the resource-based model suggest a firm to do to earn above-average returns?

2.

What are vision and mission? What is their value for the strategic management process?

3.

Who are stakeholders? How do (any one of the three) primary
stakeholder groups influence organisations?

4.

How would you describe the work of strategic leaders?

5.

Why is it important for a firm to study and understand the external environment?

6.

Identify two major differences between the general environment and the industry environment? Why are these differences important?

7.

How do the five forces of competition in an industry affect its profit potential? Explain briefly.

8.

What is a strategic group? Of what value is knowledge of the firm’s strategic group in formulating that firm’s strategy?

9.

What is value? Why is it critical for the firm to create value? How does it do so?

10.

What are the capabilities? What must firms do to create capabilities? Page 1 of 2

11.

What four criteria are used to determine which of a firm’s capabilities are core competencies? Why is it important for these criteria to be used?

12.

How do firms identify internal strengths and weaknesses? Why is it vital for firms to base their strategies on such strengths and weaknesses?

Page 2 of 2

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