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business
strategic management

Questions and Answers of Strategic Management

=+1. What is the difference between planned strategy, visionary strategy and emergent strategy?Distinguish between adaptive and incremental change.
=+■ The physical aspects – having or acquiring the resources that are going to be required. Only if you have them can you plan how you are going to deploy them to achieve the outcomes.
=+■ The broad concept – people’s ability to grasp the issues and significance. It often relies significantly upon communication from the top
=+■ The moral case for what you are doing – this affects people’s will as it is, in effect, the quality of the case or cause
=+7. What control measures need to be put in place?The Military would see 1, 2 and 3 as Strategic Planning.4 and 5 are Operational Planning.6 and 7 are then Tactical Planning.The seven stages are
=+6. When and where should the actions take place. This is clearly tactical and it implies sequencing and appreciating dependencies. It is (in part) about project planning.Contingencies are required
=+5. What resources are required for each of these actions and deliverables? Typically the view will always be that they are inadequate and more would be desirable.
=+4. Where and how should we act to fulfil these ambitions? Generally these will be based on a series of verbs – military examples might include find (the enemy); deny(something); destroy (either
=+How will we know when we have achieved what we are hoping to achieve?
=+ Basically dealing with measures of performance and success.
=+3. What specific outcomes are we trying to deliver? What impact do we want to have on our enemy (rivals)?
=+2. In response to this, what are we trying to achieve? What are our desired outcomes –at a broad level. Depending upon the level of management dealing with a problem or issue, this might be
=+1. What are the enemy (our competitors) doing and why? The answer to this will broadly explain why you have a problem or an issue to deal with.
=+2. Use the Internet to determine what has happened with the venture.
=+1. Eclipse has been described as ‘the last great dream in aviation’ … but does this imply a‘half full’ or a ‘half empty’ perspective? Is it a good dream or a bad dream?
=+4. If it was your decision, would you persist and expand the cinema chain, close the one in Milton Keynes or adopt a different business model?
=+3. Is too much left to chance?
=+Is there sufficient planning of the right type?
=+2. How much is Stelios an entrepreneurial visionary?
=+1. Picking up on the earlier comment, does Stelios generally ‘get the business model right in the beginning’?
=+■ appreciate the relevance of military planning for understanding business strategy creation.
=+■ show how an overreliance on formal planning systems can bring about a strategic crisis
=+■ describe how emergent strategy includes adapting to new opportunities and changing intended strategies incrementally as they are implemented
=+■ distinguish between three broad modes of strategy creation – the planning, visionary and emergent approaches
=+■ Financial status: Is the company solvent and liquid? Is it financially sound?
=+■ Performance: How successfully is the business being run as a trading concern? Here we are concerned not so much with profit as with profitability. How well is the company using the capital it
=+■ Investment: How do the results relate to shareholders and the funds they have provided, and to the company’s share price?
=+■ discuss how profitability might be improved.
=+■ calculate and evaluate a number of ratios relating to investment, performance and financial status
=+■ describe the key parts of a balance sheet, profit and loss account and cash flow statement
Which stakeholder groups are likely to be the most influential and why? P-968
Identify the principal stakeholder groups in this case. P-968
Explain how the power–interest map helps to identify the most influential stakeholders. P-968
What is a stakeholder and in what ways might stakeholders affect objective setting? P-968
In what ways might a mission statement help in achieving strategic objectives? P-968
What is a mission statement? P-968
How effective is each statement in your judgement and why? P-968
Assess who you think the primary audiences for the statements might be in each case? P-968
What sort of behaviour do you think Southwest Airlines is trying to encourage by employees? P-968
Why do you think the Southwest Aitrlines mision statement has remain unchanged for so long? P-968
Why is service delivery likely to be so important to all managers at every level in this case? P-968
Explain why the hierarchy of decision making might be differnt in some service based companies such as those in THE. P-968
Why is hierarchical congruence important in successful strategy? P-968
Explain the meaning and significance of the term ‘hierarchical congruence’ for an organization. P-968
Explain what is meant by the term overtrading. P-968
Distinguish between strategic, tactical and operational level decisions in the TES example. P-968
What are the three components of strategy as described by Chandler? P-968
Define and distinguish between deliberate and emergent strategy. P-968
What are Mintzberg’s five Ps of strategy? P-968
However, the actions could not be achieved if they could not be resourced. You need the resources of a plane with a suitably qualified pilot, an airport, money to pay for your flight and other such
In order to achieve this objective certain actions are necessary which are chosen from a range of alternative options available. If might be decided that flying is the best option. Thus a specified
Your objective is clearly stated as arriving in Paris at a certain date and time. P-968
understand how the strategy concepts introduced in the chapter can be applied to relevant tourism, hospitality and events (THE) contexts P-968
explain the most typical types of objective that are sought through strategic management and how they might be written; and P-968
employ the stakeholder model to explain how strategic decisions are arrived at; P-968
explain what is meant by hierarchical congruence and why is it important; P-968
analyse examples of mission and vision statements from relevant tourism, hospitality and events (THE)contexts; P-968
explain the meaning of mission, vision and values and describe the typical contents of these statements; P-968
distinguish between strategic, tactical and operational decisions; P-968
explain what strategy often contains in practice; P-968
distinguish between deliberate (prescriptive) and emergent strategy P-968
appreciate the importance and organizational context of strategic decision making; P-968
explain Mintzberg’s Five Ps framework of strategy; P-968
What methods will be utilised by the organization? P-968
What is the strategic direction that the organization will take? P-968
How will the organization compete? P-968
Do you agree that the Application Programming Interface (API) business model is a promising venue for Uber and other companies to pursue?
What role do you think the Uber IPO played in the decision to discontinue the UberRUSH business?
How would you respond if someone you used to be close with reached out to you for advice or help?
Would you feel comfortable reaching out to a former friend or colleague to ask for advice or to help in another way? Why or why not?
What can Mazda do to have the best chance of succeeding with their more efficient gasoline engine vehicles?
If you were choosing between a Mazda with their more efficient engine or a similar-sized electric car, which would you select? Why?
Was Mazda’s strategy to innovate to improve on internal combustion engine vehicles a valuable direction to go?
What is the difference between focused and dispersed approaches to corporate entrepreneurship?
Select a company that is listed on the NASDAQ or New York Stock Exchange. Research the extent to which the company has an entrepreneurial culture. Does the company use product champions?Does it have
Select two different major corporations from two different industries (you might use Fortune 500 companies to make your selection). Compare and contrast these organizations in terms of their
Create a diagram illustrating how to gain and sustain competitive advantages.
What is the most important activity in the strategicmanagement process?
What two factors most often are associated with companies hiring a Chief Strategy Officer?
Discuss the extent to which strategic-planning concepts would be applicable to individuals managing their own lives.
According to Sun Tzu, warfare is based on deception.Should strategic planning be based on deception?Explain.
Briefly explain whether strategic planning should be more of a people-oriented process than a paper process.
List six characteristics of objectives and give an example of each.
List four strategists whom you know personally. Rank them on their effectiveness as a leader in their organization.
Identify and give an overview of three social networking sites that firms use to gain competitive advantage.
Compare strategic planning with long-range planning.
Compare and contrast the extent to which strategicplanning concepts are used by companies in your country versus companies in the United States.
Go to the author website (www.strategyclub.com) and describe the strategic-planning products offered.
Determine the ways and means by which strategic planning is conducted at your college or university. Report your findings to your class.
Strategic management is not a panacea for success and can be dysfunctional if conducted haphazardly. In this context, give five examples of potential “haphazard”aspects of the planning process.
Would the collapse of the euro be a major threat, or opportunity, for your college or university? Why or why not? In your opinion, what is the probability of such a collapse?
Based on the chapter’s definition of strategists, identify the top three strategists you have personally spoken to, and interacted with.
Strategic management is all about gaining and maintaining competitive advantage. Explain whether you agree or disagree with the help of examples.
As cited in the chapter, Dale McConkey says, “plans are less important than planning.” In terms of strategic management and its benefits, what does McConkey mean?
Avoid being merely descriptive in your written or oral case analysis; rather, be prescriptive, insightful, and forward-looking throughout your project. Explain the statement and discuss its
Given the political and economic collapse of various Middle Eastern countries, identify a list of companies for which gaining and sustaining competitive advantage has permanently changed.
Compare and contrast the activities involved in strategy formulation and those in strategy implementation.
Discount airlines are competing more aggressively with Singapore Airline. How could Singapore Airline best compete with these rivals?
What is meant by a hierarchy of goals? What are the main components of this hierarchy, and why must consistency be achieved among these goals?
Look up the vision statements and/or mission statements for a few companies. Do you feel that they are constructive and useful as a means of motivating employees and providing a strong strategic

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