Question 1

1. Identify and discuss the THREE (3) steps in the strategic management process.

(15 marks)

1. Explain THREE (3) benefits and THREE (3) pitfalls of strategic management (6 marks)
2. Expand on what is meant by SWOT analysis. (4 marks)

(Total 25 marks)

Question 2

1. Discuss the importance of conducting an external audit. (2 marks)
2. List and explain the FOUR (4) steps that take place in an external audit. (8 marks)
3. Explain the FIVE (5) functions of management and identify at which stage in the Strategic Management Process they are most relevant. (5 marks)