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business
essentials of strategic management

Questions and Answers of Essentials Of Strategic Management

11. What are some measures of an effective strategy?
10. What elements help distinguish a strategic decision from one that is tactical?
9. Who uses strategy in a typical company?
8. Why is being better than average in an industry an important strategy concept?
7. How might your understanding of other areas of your business studies (finance, accounting, marketing, management, and information systems) be affected by your ability to apply the concepts of
6. What do you expect to be able to do after you finish this course in strategy?
5. Who are Sun Tzu, Michael Porter, and Frederick Taylor?
4. If you were asked for some advice about how strategy can help a business develop and grow, what are the areas in which you would suggest that strategy could make a difference?
3. How has strategy evolved over the past forty years?
2. How was strategy operationalized during the early part of the 1900s?
1. Imagine that you have arrived back home from your first class in strategy and you receive a call from your parent asking you about your class. How would you explain what strategy is?
5. What is special about strategic decisions?
4. How is strategic performance measured?
3. What is the nature of strategy in a multi-business firm?
2. How are competitive differences sustained?
1. Why are firms different?
9. Who should be involved in setting strategic direction and making key strategic decisions?
8. What are your options when another company comes directly after your customers?
7. Why should a company move internationally? To what country? Should it acquire a local company, do a joint venture, or start up from scratch there?
6. When does it make sense for a company to acquire another company? Why would you acquire a company in a different industry?
5. Is every industry equally attractive to expand into?
4. How do you define your industry? Who is your competition? How do changes in competition and evolving technologies affect strategy?
3. What is the value of a vision and a mission statement?
2. Over what time horizon does strategy play itself out? How does management measure progress toward the accomplishment of outcomes over long periods of time?
1. What elements constitute an effective strategy, and how do you measure its outcome?
5. Describe the process for developing and implementing strategy.
4. Connect the concept of strategy with leadership and ethics.
3. Explain the evolution of the field of strategy and why it is so important today.
2. Define the term "Strategy" and describe the five critical questions encompassing what we study in strategy
1. Identify and discuss the two strategic imperatives facing every company today.
3. Imagine that you are the Social Media Manager for a local charity that helps disadvantaged children. Every year you are responsible using social media to promote the Annual Gala Fundraising Ball.
2. Pretend that you are an entrepreneur conducting research about the viability of opening a new vegan ice-cream parlour in Hong Kong. Complete the Social Listening Plan in Appendix 2 with the
1. Pick one of your favourite brands and visit their social media profle on each channel. Examine the comments on their latest post. How quickly did the brand respond? Did they respond at all? Based
7. What is the overall purpose of social media monitoring, listening and measurement? Please explain your answer.
6. Why is the reporting of social media data to a client or organisational decision maker a powerful tool for a Social Media Manager?
5. What is the analysis of big data useful for in relation to social media management and why?
4. What is the difference between vanity and conversion metrics? Please provide an example of each to demonstrate your answer.
3. Explain when it is important to measure social media performance and why.
2. What is the difference between social media monitoring and listening?How can both assist in the success of a business or organisation?
1. Why is social media monitoring, listening and measurement an essential part of strategic social media management? Please explain your answer.
What has been the best piece of advice that you have been given?
What do you think of the current landscape of social media management as a profession?
What are your favourite tools for social media listening, monitoring and measurement and why?
What are the challenges of social media listening, monitoring and measurement?
What do you think are the benefts of social media listening, monitoring and measurement?
What do you think are the three most important things for Social Media Managers to consider regarding the processes of social media listening, monitoring and measurement?
What are the greatest challenges that you experience in your role?
What do you enjoy most about your current role?
2. How can leveraging social listening data help to strengthen customer relationships?
1. How can social listening be used for more than only issues and crisis management?
5 What does this data say in relation to the strategic goals and SMART Objectives? Does it support their achievement? Why/Why not?
5 What is this data telling you about the target audience, when they are posting, how people are engaging with the content, whether or not they are converting? It is up to you to interpret this data
5 Can you see any trends? Any peaks or dips in followers or engagement? If so, what occurred on this particular day to cause this? Investigate the why.
5 What are three key points that this data is making about a client’s social media performance?
What is this data telling me about my client’s social media performance?What is apparent?
5 What sort of fle format does the reader prefer?
5 Is the reader likely to show this report to other people?
5 Does the reader prefer numbers or graphical representation of data?
5 How much time does the audience have to read this report?
5 How knowledgeable is the reader about social media?
5 What doesn’t the reader need to know?
5 What does the reader need to know?
Who will be reading this report?
5 How people are responding to an issue or crisis?
5 How positively a product/campaign is being received by its target audience
5 The health of brand reputation
5 How to enhance performance
8. 5 How well a client or organisation compares with competitors
7. 5 Audience habits and demographics
6. 5 Trends (time of day, types of content receiving the greatest engagement)
5. What social media activities are working (or not working) to support strategic goals
4. How can we better respond to negative mentions?
3. How can we increase positive mentions and interactions with our target audience?
2. How can we increase positive mentions, decrease negative mentions and convert neutral mentions into positive?
1. What actions must be undertaken to improve the likelihood that strategic goals and SMART Objectives will be achieved?
12. How have the negative and positive mentions been addressed?
11. What tactics were being implemented on the days that generated more neutral mentions?
10. What tactics were being implemented on the days that generated more negative mentions?
9. What tactics were being implemented on the days that generated more positive mentions?
8. What are the audience demographics (age, gender, location) of the people talking about the client or organisation?
7. What are the key themes in the neutral mentions?
6. What are the key themes in the negative mentions?
5. What are the key themes in the positive mentions?
4. Is the conversation mainly positive, negative or neutral?
3. How much conversation is happening in relation to the client or organisation?
2. What does this data show in relation to the SMART Objectives?
1. What does this data show in relation to the strategic goal/s?
3. Provide suggestions regarding how the propinquital loop could be used as a social media tactic to engage with existing customers of an online kitchenware store.
2. You are the Social Media Manager for a local surfng school. Suggest a piece of problem-solving content for each stage of the AIDASLA Model targeted at people who are completely new to surfng.
1. Think of an important turning point in your life. Plot the events of that story onto Freytag’s Pyramid. Consider the social media tactics that you could use to share your story with a target
6. Why should a Social Media Manager test, monitor and refne social
5. What should be considered when devising tactics for a social media strategy and why is each important?
4. What is a propinquital loop and how can it assist your client? Please provide examples.
3. What are the benefts of focusing on helping a target audience instead of constantly trying to sell to them?Please explain your answer.
2. Why is quality storytelling a powerful way to connect with target audiences? Please provide an example.
1. Why shouldn’t tactics be considered as the entire social media strategy?Please explain your answer.
What advice would you give to someone wanting to work in social media?
What has been the best piece of advice that you have been given?
Where do you think the profession and social media is heading in the future?
What do you think of the current landscape of social media management as a profession?

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