SECTION B QUESTION TWO Explain the significance of the following in the formulation of strategy: I. Cash flow [5 marks] II. Inventory turnover [5 marks] III. Market share [5 marks] IV. Efficiency [Total=20 marks] QUESTION THREE Explain why it might be argued that the formulation of a company's strategy is the responsibility of a Chief Executive Officer of a company. [20 marks] QUESTION FOUR W.D. Guth and R. Tagiuri, in their article on "Personal Values and Corporate Strategy", published in the Harvard Business Review, Sept-Oct 1965, pp 12332 , argued that the strategic direction of a firm can be influenced by the personal values and aspirations of stakeholders. Required: Discuss and contrast the strategic direction of Zambia National Commercial Bank, a publicly owned bank with the strategic direction of Standard Chartered Bank which is privately owned bank. (20 marks)