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business
essentials of strategic management

Questions and Answers of Essentials Of Strategic Management

describe different intensive growth strategies
explain the concept of transnational strategies and how to execute them
explain the four strategy postures in multinational corporations
explain drivers for going international and analyze international market potentials
describe corporate strategy in terms of corporate parenting and business scope
explain vision, mission and purpose, values, and strategy as well as their interrelation
understand the relevance of strategic guideposts for strategy formulation
How did you move through the stages from the AIDASLA Model? At what stage would you consider yourself to be now? Please explain your answer.
3. Think about the very last product that you purchased. Using the AIDASLA Model, track your purchasing journey back to the frst time that you learned about the product.
2. Using the steps outlined in this chapter, pick your favourite brand and conduct a competitor analysis on their social media presence. Explain the key fndings that you have learned from this
1. Using the steps outlined in this chapter, conduct a social media audit on your own social media presence. What does it tell you about the way that you present yourself on social media?What are
6. Explain the customer journey and why Social Media Managers need to understand it when developing a social media strategy and content?
5. What is a Customer Persona and why are they useful when creating strategic social media content?
4. What are the risks of developing a social media strategy without frst conducting an audit of your client’s social media presence?
3. Why is it important to research your client and their competitors as part of the audience research process?
2. What are the differences between quantitative and qualitative research methods and what are the benefts of using them together?
1. Why is it important to use a range of research approaches and methods when researching audiences?
36. What has been the best piece of advice that you have been given?
35. What advice would you give to someone who is trying to begin a career in social media?
34. Where do you think the profession and social media is heading in the future?
33. What do you think of the current landscape of social media management as a profession?
32. What are your favourite tools, methods and approaches to conduct audience research and why?
31. How does thoroughly researching your audience help the people that you are trying to connect with on social media?
30. What are the challenges of audience research?
29. What do you think are the benefts of audience research?
28. What do you think are the three most important things for Social Media Managers to consider about audience research when developing a social media strategy?
27. How did you come to work in social media? Please tell me your career story?
26. What are the greatest challenges?
25. What do you enjoy most about working with social media?
24. What text is missing from social media profles that could help the target audience learn more about a client’s business?
23. This will come more apparent the further you work through the audience research process, so be sure to revisit this part of the social media audit when you have greater knowledge regarding the
22. Has the bio been written with the target audience in mind? For example, does it use language and terms that will resonate with the people a client is trying to reach?
21. Does the text truly capture the organisation’s brand voice?
20. Is the current text free from errors in spelling, grammar and punctuation?
19. Does the company info leverage the features of the platform? For example, does it include a link to the company website, or relevant hashtags etc.?
18. If so, is the company information up to date?
17. Are the bio sections on each profle populated?
5 Visual imagery that looks professional and is clearly identifable as their brand?
5 Using copyright free and royalty free images?
16. How is a client visually representing their brand on each of their social media profles?Individually are they using:5 The correct logo?5 The correct brand colours?5 Images that adhere to the size
15. What do you want social media to do for your business?
14. What has been successful and unsuccessful for you on social media?
13. What are your current social media activities?
12. Do you have branding guidelines? If so, may I please have a copy?
11. Who are your direct competitors?
10. What are some of your customers’ common questions?
9. What are some of your common customer complaints?
8. How would (and have) your customers rated their experience with your business?
7. How would you rate the customer experience and service that you currently offer?
6. Who are your customers? Who would you like them to be?
5. What are the best and most challenging things about your industry?
4. What is your greatest challenge in achieving those goals?
3. What are your business goals?
2. What are your products and services?
1. When and why did you start your business?
Geographies: In which regions are companies competing?
Technologies: Based on which technologies are companies competing?
Customer groups/market segments: Which customer groups are companies competing for?
Customer needs/wants: For the fulfillment of which customer needs/wants are companies competing?
Products/services: On what products or services are companies competing?
identify focal points for strategy formulation with the TOWS matrix
describe the portfolio-based situation assessment
apply the VRIO model to assess competitive implications of a firm’s competencies
distinguish between a firm’s resources, capabilities, and core competencies
outline the key rationale and premises of the resourcebased view of strategy
distinguish and analyze customer needs, wants, demands, and requirements
describe key elements in a firm’s competitive arena and how to analyze them
define a relevant market, apply the five forces model, and understand its dynamics
conduct a macroenvironmental analysis and derive scenarios
describe different layers of strategic analysis and build a firm-specific framework
identify key stakeholders of a company and determine their strategic relevance
understand the relevance of situational awareness and strategic sensemaking
how they reward and punish;how open and flexible they are for strategic change;how they emphasize analytics over intuition or vice versa
what they get upset about;whether they encourage open discourse with dissenting views or reject input and only seek affirmation of their own viewpoints;
how strategically focused or ambiguous they are;whether they are egocentric or inspire others to entrepreneurship and strategic ideation;
how they react to critical incidents or unmet strategic expectations;
what they measure and control regularly;
what strategic matters leaders pay attention to and at which level of detail;
What type of IT support is applied for the different tasks of the strategy process?
How is the organizational change and transformation process managed?
What templates should be used to document and communicate results?
What methods or procedures are followed for the different tasks in the strategy process?
What is the standard of management tools that are used for tasks in the strategy process?
How frequently should certain activities in the strategy process be conducted?
How often does the strategy need to be revised comprehensively?
How frequently is progress in strategy execution reported and reviewed?
What triggers the strategy process activities (e.g., calendar, major events or incidents)?
What is the right level of involvement of the organization in the strategy process? The second WOS component—the middle layer or bearing with its two rings (structure and corporate
Who should be the core management teams elaborating on strategic options? The second WOS component—the middle layer or bearing with its two rings (structure and corporate culture)—supports an
Who should provide information and insights for strategic analysis? The second WOS component—the middle layer or bearing with its two rings (structure and corporate culture)—supports an effective
Who should drive and facilitate the strategy process?(see Strategic Snapshot 1.11) The second WOS component—the middle layer or bearing with its two rings (structure and corporate
What strategy execution system do we need to make our strategies happen? (4.3)
How can we design our organization to put our strategies into practice? (4.2)
How do we perform on key drivers for execution excellence (4.1)?
What are the best strategic options to move forward?(3.6) Strategy formulation: What and where do we want to be and how will we succeed?
Where and how should we engage in business ecosystems? (3.5.4) Strategy formulation: What and where do we want to be and how will we succeed?
What business model(s) do we pursue? (3.5) Strategy formulation: What and where do we want to be and how will we succeed?
Where and how should we compete on a business level?(3.4) Strategy formulation: What and where do we want to be and how will we succeed?
Where and how should we compete from an international perspective? (3.3) Strategy formulation: What and where do we want to be and how will we succeed?
Where and how should we compete from a corporate perspective? (3.2) Strategy formulation: What and where do we want to be and how will we succeed?

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