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business
strategic management and business policy

Questions and Answers of Strategic Management And Business Policy

Identifying different types of competition to a business
Understanding the dif- ferent dimensions of the external business environ- ment and how to assess it
5. Organize a debate on whether learning curve or innovativeness gives more or better competitive advantage to a firm using the examples of products from firms.
4. Which of the mobile phone companies in Exercise Question 3 has benefited most from the learning curve? Assess the relevance and role of learning curve and innovativeness in the growth of the
3. Make a list in a tabular format of the competitive advantages of three reputed firms selling mobile phone brands in your town and assess which of the three companies will grow better in future.
2. Form two- or three-member teams, and each team should make a two-page note on the significant contributions of strategy forerunners through web search.
1. Locate any two retail shops selling readymade garments or clothes in the town and identify whether the shops have a strategy. Explain how you observed their strategy and describe it.
8. What are the different types of growth and expansion strategies?
7. What is sustainable competitive advantage? How a firm can acquire competitive advantages?
6. Why there are different dimensions to strategy and which of the dimensions appeal to you the most?
5. Describe the relevance of strategy to an educational institution you are familiar with.
4. Name three decision tools used in strategic management and their uses?
3. Assess the application of three theories used in the strategic management of a firm you are familiar with.
2. What are the symptoms of strategy absence in a firm?
1. Why the name of a discipline changed from business policy to strategic management? #!#
Identify the various tools that can be employed in different stages of the stra- tegic management process
Understand various theo- ries adopted from various disciplines that are useful in understanding and for- mulating strategy
Identify the role of stra- tegic management pro- fessionals and the role of strategy in the manage- ment of a firm
Appreciate different con- cepts and dimensions of strategy
Understand what is strategy, strategic man- agement process, and 'strategy absence' in a firm
Justify your recommendation and why you think it will work.
Specify how your recommendations can be implemented.
Determine the strategy you would use if you were CEO of this company. Recommend specific strategies and long-term objectives.
Discuss how this company serves its community and its employees.
Determine what steps this company should take to improve its competitive position in today’s marketplace.
Discuss the current problems facing this company
Define and discuss this company’s major competitors.
Identify the company’s strengths, weaknesses, opportunities, and threats.
Develop a mission statement for the organization.
Identify the company’s existing missions, visions, goals, objectives, and strategies.
Explore the history of this company from its origins to the present.
Compare and contrast the control function in profit and not-for-profit organizations.
List and describe the three stages of the evaluation and control process.
List four requirements of a good evaluation and control system.
List and describe the four major classifications of organizations. What are third-sector organizations? List the eight major types of private organizations.
What are the five fundamental approaches used when implementing strategies?
What are the issues involved in exerting strategic leadership?
During strategy implementation, the formal system of reporting must have certain characteristics to have value. What are these characteristics and how are they of value?
What are some of the techniques used by companies to develop an effective corporate culture?
What is the cultural implementation approach?
In what ways do strategy-related policies help enforce strategy implementation?
Provide an example of a company whose culture has helped or hindered its strategy.
What is the relationship between strategy implementation and the reward system?
Why must information be timely, accurate, relevant, and reliable?
How do leaders shape culture?
What is corporate culture?
Discuss the traps faced during the process of implementing strategy.
Why is an effective implementation of strategy important?
How is the matrix structure different from other types of structures?
When does an organization use the strategic business unit structure, and why?
When does an organization use the geographical structure, and why?
When does an organization use the product/division structure, and why?
Discuss the major types of organizational structure.
What is meant by organizational structure?
What is the position of the United States in the global competitive market?
What are the conflicts that arise between MNCs and the local environment? How can relations be harmonized?
What are the different ways to enter a foreign market?
What are the four basic international corporate strategies formulated by Leontiades?
What are the three modes of internationalization?
What are the factors affecting foreign environments?
What is international strategic management? Describe the importance of planning in internationalization.
What are the advantages of internationalization?
Discuss the use of descriptive characteristics in strategy formulation.What are some of the descriptive characteristics of successful organizations as identified by Peters and Waterman?
What are the criticisms of the three generic strategies offered by Porter?
According to Porter, what are the three generic strategies available to firms to achieve sustainable competitive advantage? Discuss the strengths of each strategy.
What are the most common tactics of differentiation? Under what conditions are differentiation strategies most suitable?
Define the generic approach to strategy formulation. What are the strengths and weaknesses of that approach?
Define the contingency approach to strategy formulation.
What is the initial step in the analysis and evaluation of a business strategy? What are the external and internal factors that should be considered by managers during the strategy analysis and
What are the major factors that a manager should take into consideration in selecting a business strategy? Which are most suitable for achieving the company’s goals?
Define and differentiate business strategy and functional strategy.Discuss the interrelation of the business and functional strategies of a company in the process of serving the company’s long-term
What are the principle tasks of corporate strategists in multiple SBU firms?
What are the disadvantages of vertical integration?
What advantages does the GE matrix model have over the BCG matrix?
What are the strengths of the BCG approach?
What are the two phases of the turnaround strategy?
An organization chooses forward or backward vertical integration based on what factors?
What are the major risks in choosing a specialization strategy?
What are the reasons for a focus or specialized strategy?
What key areas does corporate strategy focus on?
List the major pressure groups that influence organizational strategies. What questions should be asked to assess the influence of each?
Describe the four modes of external scanning for threats and opportunities.
Distinguish between internal and external information and between primary and secondary information.
List the problems and costs associated with obtaining information.
List the ways in which scanning the external environment supports strategic planning.
How does each of these external forces affect an organization’s strategies and management?
Name the four major forces of the macroenvironment.
Describe what an organization’s external environment is.
Describe the importance of operational planning and control.
Distinguish between managerial functions and roles.
Why is information important to the strategic process?
State and define the key internal variables that affect strategy formulation.
Name and describe three internal variables that affect strategy formulation.
What is a dynamic environment? How does it affect larger companies versus smaller companies? What is critical to an organization’s survival in a dynamic environment?
What are the key areas of strategy implementation?
What is organizational policy?
List and explain the five categories of strategy formulation.
What are the components of strategic objectives?
Name and describe the five key elements of the mission statement.
What is the importance of information and forecasting techniques?

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